1145 7th ST W, Saint Paul, MN 55102 - MLS#6677569

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Nick Leavy

nick@ermetro.com +1(612) 236-5331

$725,000

Est. payment - /mo

8 Beds

8 Baths

9,583 SqFt

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UPDATED:

Key Details

Property Type Commercial

Listing Status Pending

Purchase Type For Sale

Square Footage 9,583 sqft

Price per Sqft $75

Subdivision Clarkes Add

MLS Listing ID 6677569

Bedrooms 8

Year Built 1966

Annual Tax Amount $15,216

Lot Size 5,904 Sqft

Acres 0.22

Lot Dimensions 80 x 120

Property Description

WEST 7TH STREET APARTMENTS IS A CLASSIC ALL-BRICK SEVEN-UNIT BUILDING 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, CLEAN AND CONSTRUCTED IN 1966. RESIDENTS ENJOY THE OFF-STREET PARKING LOT ALONG WITH THE OPTION TO RENT ONE OF THE FOUR GARAGES. THERE IS ONSITE COIN LAUNDRY AND EXTRA STORAGE LOCKERS FOR RESIDENTS. CURRENTLY ALL THE UNITS ARE RENTED AND EACH TENANT PAYS FOR THEIR OWN SEPARATE ELECTRIC. OWNER PAYS HEAT, WATER AND TRASH. ALL FOUR UPPER APARTMENTS FEATURE OAK HARDWOOD FLOORING AND THEY ALL HAVE WALL AIR CONDITIONING UNITS. SPACIOUS ROOMS AND ONE OF THE LOWER LEVEL UNITS IS A SPECIAL TWO-BED TWO-BATHROOM UNIT! A NEW OWNER CAN RAISE RENTS ON LEASE RENEWALS TO CAPTURE A HIGHER RETURN ON THEIR INVESTMENT! NET OPERATING INCOME $50,974 AND A TRUE 7+ CAP RATE

Location

State MN

County Ramsey

Community Clarkes Add

Zoning Residential-Multi-Family

Direction on west 7th

Rooms

Basement Egress Windows, Full

Interior

Heating Boiler, Hot Water

Cooling Wall Unit(s)

Flooring Carpet

Exterior

Parking Features Parking Lot

Garage Spaces 4.0

Utilities Available Electric Separate, Heating Common, Hot Water Common

Roof Type Age Over 8 Years,Pitched

Accessibility None

Total Parking Spaces 4

Building

Foundation Concrete Block

Water City Water/Connected

Structure Type Brick,Frame

Others

Senior Community No

Tax ID 112823420117

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Listed by Apartment Cash Flow, Inc.

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