1179 7Th StSaint Paul, MN 55106

Property Details for 1179 7Th St

Year built

1889

Lot size

0.23 AC

Property size (Sq ft)

11,447 SF

Property type

Apartment buildings

Description

This fully occupied, six-unit apartment building in Saint Paul, Minnesota presents a compelling investment opportunity. Originally constructed in 1889 and extensively renovated in 2022, the property boasts 11,447 square feet across three stories, situated on a 0.23-acre lot. The building features a mix of spacious one to four-bedroom units, each updated with modern amenities including stainless steel appliances, granite countertops, in-unit laundry, and self-controlled HVAC systems. Residents enjoy ample closet space, tall ceilings, and newer windows. Building features include controlled access entry, security cameras, and off-street parking (12 spaces total). The property benefits from a prime location in Saint Paul, offering easy access to Highways 94 and 494, and proximity to downtown Saint Paul, as well as the suburbs of Oakdale, Woodbury, and Maplewood. Numerous shopping, school, and entertainment options are nearby. The property currently generates a net operating income (NOI) of $88,604, representing a 7.09% capitalization rate. The asking price is $1,250,000, or $208,333.33 per unit, and the property is zoned for multi-family use. This stabilized, value-add investment is in turnkey condition and is ideally suited for a 1031 exchange. The property is professionally managed, with the option to retain current management. The APN is 28-29-22-41-0068.

Location Insight

City

Saint Paul

County

Ramsey

State

Minnesota

Latitude

44.9667

Longitude

-93.0508

FAQs

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