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Marc Hedlund

marc@iheartexit.com +1(701) 730-4440

$1,150,000

Est. payment - /mo

7,535 Sqft Lot

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UPDATED:

Key Details

Property Type Commercial

Listing Status Active

Purchase Type For Sale

Subdivision Stierle, Mcconville &, Seegers

MLS Listing ID 6739015

Year Built 1940

Annual Tax Amount $24,792

Tax Year 2025

Contingent None

Lot Size 7,535 Sqft

Lot Dimensions 50 x 120

Property Description

Charles Place apartments presents a unique value-add investment opportunity right in the heart of Saint Paul within walking distance to the newly built Allianz Stadium where the MN United soccer team plays! This whole Merriam Park neighborhood currently is in an opportunity zone and is getting transformed into a trendy and upscale destination. Take advantage of this opportunity to acquire 15 units, all-brick exterior, built in 1940 with original oak hardwood flooring and original doors and plaster coved ceilings. A newer Lochinvar Knight hot water boiler system was installed in 2012 and newer water heaters in 2010. The whole building received newer Andersen Series 100 windows in 2018. Electrical panels to each unit are on 60-amp breakers. Operations receive additional revenue from on-site coin operated laundry. All units are currently occupied and leased and ready for new owners to take over!! Average studio rent is $777 and average one-bedroom rent is $876 per month with plenty of room to move these rents up to market. Stabilized with zero delinquencies and a current in place 9.23% Cap Rate!!

Location

State MN

County Ramsey

Zoning Residential-Multi-Family

Rooms

Basement Daylight/Lookout Windows, Finished, Full, Concrete, Partially Finished

Interior

Heating Boiler, Hot Water

Cooling Window Unit(s)

Flooring Wood

Inclusions Building, Land, Leases, Rental License

Fireplace No

Appliance Range, Refrigerator

Exterior

Parking Features On-Street Parking Only

Fence None

Pool None

Utilities Available Electric Separate, Heating Common, Hot Water Common

Roof Type Age Over 8 Years,Flat

Present Use Residential

Building

Lot Description Tree Coverage - Light

Story Three Or More

Foundation 3420

Sewer City Sewer/Connected

Water City Water/Connected

Level or Stories Three Or More

Structure Type Brick

New Construction false

Schools

School District St. Paul

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Listed by Nathan Opatz • Apartment Cash Flow, Inc.

Nearby School & Business

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Marc Hedlund

+1(701) 730-4440

Broker | License ID: 40339406

Broker License ID: 40339406

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1631 Charles AVE Saint Paul, MN 55104

Marc Hedlund

Key Details

Location

Rooms

Interior

Exterior

Building

Schools

Nearby School & Business

Get More Information