For Sale: Saint Paul MLS# 6823925
Active
NEW!
$475,000
Multi-family: Fourplex
6 br • 4 ba • Built 1893
3,600 sqft • 0.112 acres
MLS# 6823925
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Property Description
Fully leased 4-plex on St. Paul's West Side, south of the river with easy access to downtown, the West Side Flats, and District del Sol. Quiet residential block with strong renter demand from the surrounding neighborhood. Close to parks, local restaurants, and transit without the traffic of a main corridor.
Two 2BR/1BA units and two 1BR/1BA units across 2, 950 SF. All four tenants are on signed leases through mid-2026 to mid-2027 at rents that were increased during the most recent lease-up cycle. 100% occupancy with market rent upside remaining and room to push on renewals.
Tenants pay their own gas and electricity. Owner covers water/sewer and trash.
The property is enrolled in the City of St. Paul's 4d Affordable Housing Incentive Program, which provides up to an 80% reduction in property tax class rates on enrolled units. The covenant transfers with the property, so a buyer inherits the tax benefit on day one, with estimated annual savings of $4, 600+ compared to standard tax rates. Contact the listing broker for full program details, rent and income limits, and recertification requirements.
Two units turned over in mid-2025 and were leased up at significantly higher rents. The heavy lifting on vacancy and turnover spend is behind you. A buyer steps into a stabilized rent roll with all four units performing, no deferred maintenance surprises from the recent turn cycle, and a clean path to cash flow from day one.
Solid entry point for an investor looking for a manageable 4-unit with tenants already in place, cash flowing, and a low tax basis that's hard to find for under $500k in St. Paul!
Listing
Listing Status:
Active
Contingency:
None
List Price:
$475,000
Price per sq ft:
$132
Property Type:
Multi-family
City:
Saint Paul
Garage Spaces:
0
County:
Ramsey
Year Built:
1893
State:
MN
Property Style:
Fourplex
Zip Code:
55107
Neighborhood/Area:
104
Subdivision Name:
Paul Martins 1st Addition, To
Interior
Bedrooms:
6
Bathrooms:
4
Finished Area:
3,600 ft2
Living Area:
3,600 ft2
Basement Details:
Storage Space
Exterior
Stories:
Two
Garage Spaces:
0
Foundation Size:
1,800 ft2
Handicap Accessible:
None
Heating System:
Baseboard
Parking Features:
Parking Lot
Roof Details:
- Age Over 8 Years
- Asphalt
Rooms
Laundry:
Other
Lot & Land
Acres:
0.112
Geolocation:
44.922383, -93.065072
Lot Dimensions:
41 x 120
Zoning:
Residential-Multi-Family
Schools
School District:
2102
District Phone:
6517678100
Expenses
Annual Caretaker Expense:
None
Annual Electric Expense:
None
Annual Fuel Expense:
None
Annual Insurance Expense:
$3,363
Annual Maintenance Expense:
$4,125
Annual Trash Expense:
$1,966
Annual Water/Sewer Expense:
$3,121
Tenant Expenses:
Electricity, Heat
Financial & Taxes
Tax Year:
2026
Annual Taxes:
$1,703
Lender-owned:
No
Assessment Pending:
Yes
Taxes w/ Assessments:
$2,248
Income
Annual Gross Income:
$51,396
Misc. Annual Income:
$2,000
Units
Total Units:
4
Miscellaneous
Fuel System:
Electric
Owner Occupied:
No
Sewer System:
City Sewer/Connected
Water System:
City Water/Connected
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Local Home Mortgage Professionals
Eric Bloomstrand
Branch Sales Manager
Fairway Home Mortgage NMLS#274211
612-961-2600
Eric Bloomstrand is a Branch Sales Manager at Fairway Home Mortgage with 30+ years of experience in the mortgage banking services industry. Eric has extensive skills in construction loans, FHA financing, VA loans, USDA, and first-time buyer down payment assistance programs. He is a well-qualified finance professional with a Bachelor of Science focused in Finance and Marketing from Minnesota State University, Mankato. Helping individuals acquire their dream home is his passion.
Connect with Eric today to get started with your home purchase!
Listing provided by RMLS,
courtesy of MRG Realty Partners, LLC.
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.