1621 St Anthony AveSaint Paul, MN 55104

Property Details for 1621 St Anthony Ave

Year built

1960

Lot size

0.21 AC

Property size (Sq ft)

10,200 SF

Property type

Dormitories

Property subtype

Student housing

Description

This exceptional 11-unit apartment building, located at 1621 St Anthony Ave in Saint Paul, Minnesota, presents a compelling value-add investment opportunity. The property boasts a prime location, just one block from Allianz Field soccer stadium, and features eleven two-bedroom, one-bathroom units, each approximately 750+ square feet. Built in 1960 and renovated in 2000, the three-story, all-brick building is in excellent condition with a newer roof (approximately 11-12 years old) and newer windows. The 10,200 square foot building sits on a 0.21-acre lot and offers residents ample off-street parking, secured entry, lower-level storage lockers, and coin-operated laundry facilities. Currently operating at 100% occupancy, the property generates a substantial net operating income (NOI) of $75,738, representing a 6.31% cap rate. The asking price is $1,199,900, or $109,081.82 per unit, and $117.64 per square foot. The property is zoned for multi-family use and offers significant potential for rental increases, making it an attractive investment for discerning buyers. The property's strong performance, desirable location, and value-add potential make it a rare find in the competitive Saint Paul market. The building is professionally managed. The APN is 33-29-23-41-0059.

Location Insight

City

Saint Paul

County

Ramsey

State

Minnesota

Latitude

44.9522

Longitude

-93.1689

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