For Sale: Saint Paul MLS# 6678042
Active
$500,000
Commercial: Apartments
Built 1912
0.11 acres
St. Paul schools
MLS# 6678042
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Property Description
Seize this exceptional chance to acquire a low-maintenance, multi-family property boasting an impressive 8.76% cap rate. Built in 1912 and comprehensively updated: including a new roof in 2023, this 2, 808 sq ft building comprises multiple 1-bedroom units. Notably, rents are 90% guaranteed, ensuring a reliable income stream. Situated in the vibrant Dayton's Bluff neighborhood, the property is within walking distance to the historic Indian Mounds Regional Park, offering scenic views of the Mississippi River and the St. Paul skyline. Residents will appreciate proximity to downtown Saint Paul, providing easy access to shopping, dining, and entertainment. Public transportation options are readily available, enhancing tenant convenience. With its strategic location, strong rental history, and recent capital improvements, 222 Frank Street stands out as an ideal investment for discerning investors seeking stable returns and long-term growth potential
Listing
Listing Status:
Active
Contingency:
None
List Price:
$500,000
Property Type:
Commercial
City:
Saint Paul
Garage Spaces:
0
County:
Ramsey
Year Built:
1912
State:
MN
Property Style:
Apartments
Zip Code:
55106
Neighborhood/Area:
Dayton's Bluff
Subdivision Name:
Suburban Hills
Exterior
Stories:
Two
Garage Spaces:
0
Other Parking Spaces:
0
Foundation Size:
988 ft2
Handicap Accessible:
None
Heating System:
Hot Water
Parking Features:
On-Street Parking Only
Exterior Material:
Vinyl Siding
Roof Details:
Age 8 Years or Less
Lot & Land
Acres:
0.11
Geolocation:
44.948071, -93.053476
Inclusions:
Building
Lot Dimensions:
50 x 100
Zoning:
Residential-Multi-Family
Schools
School District:
625
District Phone:
651-767-8100
Expenses
Annual Gross Expense:
$5,040
Tenant Expenses:
Electricity
Financial & Taxes
Tax Year:
2024
Annual Taxes:
$8,672
Lender-owned:
No
Assessment Pending:
No
Taxes w/ Assessments:
$8,672
Income
Annual Gross Income:
$58,500
Rent
Annual Net Income:
$43,788
Units
Total Units:
5
Miscellaneous
Current Use:
Residential
Fuel System:
Natural Gas
Sewer System:
City Sewer/Connected
Available Utilities:
- Electric Separate
- Heating Separate
- Hot Water Separate
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 Keller Williams Premier Realty.
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.