For Sale: Saint Paul MLS# 6674058
Active
$895,000
Commercial: Apartments
Built 1890
0.15 acres
St. Paul schools
MLS# 6674058
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Property Description
DOUGLAS STREET FLATS IS A UNIQUE ONE PARCEL TWO BUILDING 8-UNIT INVESTMENT OPPORTUNITY VERY CLOSE TO DOWNTOWN SAINT PAUL, THE MALL OF AMERICA, AND THE MPLS/ST.PAUL INTERNATIONAL AIRPORT. THIS PROPERTY HAS BEEN VERY WELL MANAGED AND CARED FOR OVER THE YEARS. METICULOUSLY CLEAN AND WELL MAINTAINED! ORIGINALLY BUILT AND CONSTRUCTED IN 1890. RESIDENTS ENJOY HOW SPACIOUS THEIR UNITS ARE WITH OVER 800 SQUARE FEET AND HOW THEY FEEL LIKE INDIVIDUAL CONDOS WITH WINDOWS FACING THREE DIRECTIONS. EACH APARTMENT FEATURES A STACKABLE WASHER AND DRYER UNIT, HARDWOOD FLOORS, AND IS A CORNER UNIT. THE LOWER LEVELS HAVE SUPER LARGE STORAGE LOCKERS FOR RESIDENTS. CURRENTLY ALL THE UNITS ARE RENTED AND EACH TENANT PAYS FOR THEIR OWN SEPARATE ELECTRIC WHICH COVERS THE ELECTRIC BASEBOARD HEAT. OWNER PAYS FOR WATER, TRASH, AND GAS FOR WATER HEATERS. A NEW OWNER CAN RAISE RENTS ON LEASE RENEWALS TO CAPTURE A HIGHER RETURN ON THEIR INVESTMENT!
Listing
Listing Status:
Active
Contingency:
None
List Price:
$895,000
Property Type:
Commercial
City:
Saint Paul
Garage Spaces:
0
County:
Ramsey
Year Built:
1890
State:
MN
Property Style:
Apartments
Zip Code:
55102
Neighborhood/Area:
West Seventh
Subdivision Name:
Samuel Leeches Add
Interior
Ceiling Height:
8-10
Ranges:
One Per Unit
Refrigerators:
One Per Unit
Appliances Included:
- Dishwasher
- Range
- Refrigerator
Basement Details:
- Full
- Storage/Locker
Exterior
Stories:
Two
Garage Spaces:
0
Other Parking Spaces:
0
Air Conditioning:
Window Unit(s)
Foundation Size:
3,600 ft2
Handicap Accessible:
None
Heating System:
Baseboard
Parking Features:
None
Exterior Material:
Vinyl Siding
Roof Details:
- Age Over 8 Years
- Flat
Lot & Land
Acres:
0.15
Geolocation:
44.939722, -93.110793
Inclusions:
Building, Land, Leases, Rental License
Lot Dimensions:
40 x 100
Zoning:
Residential-Multi-Family
Lot Description:
Tree Coverage - Light
Farm
Topography:
Level
Schools
School District:
625
District Phone:
651-767-8100
Expenses
Annual Fuel Expense:
$5,876
Annual Insurance Expense:
$5,000
Annual Gross Expense:
$35,728
Annual Trash Expense:
$3,031
Financial & Taxes
Tax Year:
2025
Annual Taxes:
$14,270
Lender-owned:
No
Assessment Pending:
No
Taxes w/ Assessments:
$14,270
Income
Annual Gross Income:
$95,706
Rent
Annual Net Income:
$59,977
Units
Total Units:
8
Miscellaneous
Current Use:
Residential
Fuel System:
Electric
Owner Occupied:
No
Sewer System:
City Sewer/Connected
Available Utilities:
- Electric Separate
- Heating Separate
- Hot Water Common
Water System:
City Water/Connected
Mortgage Calculator
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Local Home Mortgage Professionals
651-253-2144
Jason & Kim Stone
Branch Manager & Co-Branch Manager
Fairway Mortgage NMLS#1018649
Jason Stone joined Fairway Independent Mortgage Corporation in October 2017, as a Producing Branch Manager with over 15 years of experience in the mortgage industry. Throughout his career, Jason has originated over $500,000,000 in residential loan volume and has helped several thousand customers with their home financing needs. Jason was named Minneapolis Magazine: Super Mortgage Professional in 2018-2023, Scotsman Guide: Top Mortgage Originator 2019-2022, and Minnesota Housing: Platinum Leander. He is also a retired volunteer firefighter for the city of Mendota Heights, MN which is one of the reasons he’s a Home for Heroes affiliate lender.
Kim Stone joined Fairway Independent Mortgage Corporation in August 2021, as Co-Branch Manager and Loan Officer. Kim leverages her previous experience as a leader in the non-profit sector to provide care and support throughout each home financing transaction. She has a bachelor’s degree in Communication and Marketing from Minnesota State University, Mankato and a master’s degree in International Business from Nova Southeastern University in Ft Lauderdale, FL.
Leveraging more than 20 years of combined industry experience, the Stone Mortgage Team of Fairway Independent Mortgage Corporation, considers customer service as a way of life. Not only are we dedicated to finding great rates for our customers, but we also offer some of the fastest turn times in the industry. We pride ourselves on being personable, knowledgeable, accessible and reliable. Financing a home is one of the biggest commitments you will ever make - let us help guide you throughout the entire loan process from application to closing and beyond.
Kim Stone joined Fairway Independent Mortgage Corporation in August 2021, as Co-Branch Manager and Loan Officer. Kim leverages her previous experience as a leader in the non-profit sector to provide care and support throughout each home financing transaction. She has a bachelor’s degree in Communication and Marketing from Minnesota State University, Mankato and a master’s degree in International Business from Nova Southeastern University in Ft Lauderdale, FL.
Leveraging more than 20 years of combined industry experience, the Stone Mortgage Team of Fairway Independent Mortgage Corporation, considers customer service as a way of life. Not only are we dedicated to finding great rates for our customers, but we also offer some of the fastest turn times in the industry. We pride ourselves on being personable, knowledgeable, accessible and reliable. Financing a home is one of the biggest commitments you will ever make - let us help guide you throughout the entire loan process from application to closing and beyond.
It would be our pleasure to assist you with your home purchase!
Listing provided by RMLS,
courtesy of Apartment Cash Flow, Inc..
Disclaimer: The information contained in this listing has not been verified by TheMLSonline.com and should be verified by the buyer.
Disclaimer: The information contained in this listing has not been verified by TheMLSonline.com and should be verified by the buyer.