For Sale: Saint Paul MLS# 7036265
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Property Description
A rare chance to acquire a modern, fully occupied multifamily building (built 2004) in Saint Paul with strong, immediate positive cash flow and built-in upside potential. Price includes adjacent, vacant lot at 1020 Ross Ave, which currently serves as tenant green space and garden.
5 rented units currently generating income — all units are leased with long-term, reliable tenants in place, providing stable monthly cash flow from day one.
Proven performer: The building is in excellent condition for its age, with identical or near-identical layouts (most units ~1, 000 sq ft, 2 bed/1 bath), minimizing maintenance surprises and appealing to a wide tenant pool.
Significant value-add opportunity: Configure and add a sixth unit to boost rental income and overall NOI substantially — ideal for an investor looking to increase returns through light renovations or reconfiguration (buyer to verify feasibility with city permitting).
Modern construction advantages: Built in 2004 (6, 048 sq ft total), offering lower capex compared to older properties, better energy efficiency, and stronger tenant retention.
Prime East Side location: Convenient access to amenities, employment centers, transit, and downtown Saint Paul, supporting consistent occupancy and rent growth potential in a steadily appreciating market.
This property delivers immediate positive cash flow from 5 occupied units while offering clear upside to add a sixth unit for enhanced yields. Fully turnkey with tenants in place — perfect for portfolio expansion.
Listing
Listing Status:
Active
Contingency:
None
List Price:
$634,000
Property Type:
Commercial
City:
Saint Paul
Garage Spaces:
0
County:
Ramsey
Year Built:
2004
State:
MN
Property Style:
Other
Zip Code:
55106
Neighborhood/Area:
90
Subdivision Name:
Terrys Add
Interior
Bedrooms:
9
Bathrooms:
5
Ceiling Height:
8-10
Flooring:
Carpet, Vinyl
Refrigerators:
One Per Unit
Appliances Included:
- Dishwasher
- Microwave
- Refrigerator
Basement Details:
- Concrete
- Daylight/Lookout Windows
- Drainage System
- Partially Finished
- Single Tenant Access
- Storage Space
- Walkout
Exterior
Stories:
Three Or More
Garage Spaces:
0
Air Conditioning:
Central Air
Foundation Size:
2,000 ft2
Fencing:
None
Handicap Accessible:
None
Road Responsibility:
Public Maintained Road
Heating System:
Forced Air
Parking Features:
- Asphalt
- Unassigned
Unit Amenities:
Balcony
Road Frontage:
City Street
Exterior Material:
Frame
Roof Details:
- Age 8 Years or Less
- Asphalt
Lot & Land
Acres:
0.11
Geolocation:
44.96554, -93.057361
Inclusions:
Building, Land, Leases, Rental License
Lot Dimensions:
38 x 172 x 38 x 172
Zoning:
Residential-Multi-Family
Lot Description:
Public Transit (w/in 6 blks)
Farm
Topography:
Sloped, Walkout
Schools
School District:
2102
District Phone:
6517678100
Expenses
Annual Maintenance Expense:
$600
Annual Trash Expense:
$1,900
Annual Water/Sewer Expense:
$3,700
Financial & Taxes
Tax Year:
2025
Annual Taxes:
$10,100
Lender-owned:
No
Assessment Pending:
No
Taxes w/ Assessments:
$10,100
Income
Annual Gross Income:
$72,600
Rent
Annual Net Income:
$60,600
Units
Total Units:
6
Miscellaneous
Current Use:
Other
Fuel System:
- Electric
- Natural Gas
Owner Occupied:
No
Sewer System:
City Sewer/Connected
Available Utilities:
Heating Separate
Water System:
City Water/Connected
Power Company Name:
Xcel Energy
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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 Minnesota Realty Guide, 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.