, Saint Paul, MN 55118 (MLS# 6510083)

Saint Paul, MN 55118

$2,700,000
Property Type: Commercial Lot Size (sq. ft.): 120,661 Status: Closed
Current Price: $2,700,000 List Date: 7/12/2024 Last Modified: 8/07/2025

Overview

Description

Two 12-Unit apartment complexes that sit on 2.7 acres in West St. Paul conveniently located on bus route near main retail corridor. Complex has been professionally managed and maintained with 100% occupancy ready for new owner. Brick front buildings consist of 12 - 2 Bedroom units, 2 - 1 Bedroom with Den units, and 10 - 1 Bedroom units. Each unit is allotted a garage and one parking space in private parking lot. Two (owned) sets of coin operated laundry machines are located in each building with individual storage closet for each unit. Recent updates include: Hallways painted 2024, garage roofs 2023, A/C units 2022, hallway carpeting & trim 2020, and garage doors replaced 2018. Rents all are currently under local averages for this West St. Paul area & lots of room for increased cap performance. Financials and rent rolls available upon request. We encourage your questions and inquiries prior to scheduling showings. More photos coming soon.

Listing Details MLS# 6510083

General Property Information

Lot Measurement
Acres
Management Company Name
Chill Properties LLC
Multiple PIDs?
Yes
Other Parking Spaces
24
Owner Occupied
No
Year Built
1978
Yearly/Seasonal
Yearly
Zoning
Residential-Multi-Family
Foundation Size
12732
Garage Stalls
24
Management Company Phone
651-283-9853
Power Company
Xcel Energy
For Sale or Lease
For Sale
Acres
2.77
Lot Dimensions
2.77 ACRES
Assessment Pending
Unknown

Property Features

Accessible: None Air Conditioning: Window Unit(s) Amenities Shared: Coin-op Laundry Owned Amenities Unit: Deck; Patio Appliances: Range; Refrigerator Assumable Loan: Not Assumable Basement: None CMU Style: Apartments/Multi Family; Common Wall Construction Status: Previously Owned Current Use: Residential Exterior: Brick/Stone Fencing: None Financing Terms: Conventional Fuel: Electric; Natural Gas Heating: Baseboard Loan Terms: Cash; FHA Location Description: Free Standing Lot Description: Corner Lot; Public Transit (w/in 6 blks); Tree Coverage - Light On Site Utilities: Electric Common; Heating Common; Hot Water Common Overhead Door Clearance: 0-9 Feet Owner Pays: Common Area Maintenance; Electricity; Exterior Maintenance; Grounds Care; Heat; Insurance; Lawn; Lawn; Maintenance/Repair; Repairs; Sewer; Snow Removal; Taxes; Trash Collection; Water Pool Description: None Rental License Type: Standard Road Frontage: City Street Road Responsibility: Public Maintained Road Roof: Age 8 Years or Less; Flat Sewer: City Sewer/Connected Stories: Two Tenant Pays: Broadband; Cable TV; Electricity Topography: Level Wall Description: Drywall Water: City Water/Connected Window Features: Aluminum Frames

Contract Information

Off Market Date
2024-07-31
Closed Date
2024-10-15
Sales Close Price
2700000
Contingency
None
ListPrice
2999900
Owner is an Agent?
No
Auction?
No

Location Tax and Other Information

Postal City
Saint Paul
County
Dakota
State
MN
Zip Code
55118
Complex/Dev/Subdivision
Coverdale Add

Additional Parcels Information

Property ID #2
421850001082

Assessments

Assessment Balance
9500
Tax With Assessments
38190

More Information

Basement

Foundation Dimensions
66x94

Building Information

Building Finished SqFt
30744
Ceiling Height
8-10

Income and Expenses

Annual Electric Expense
1600
Annual Gross Expenses
99440
Annual Gross Income
287340
Annual Insurance Expense
1600
Annual Maintenance Expense
12000
Annual Net Income
175900
Annual Trash Expense
450
Annual Water/Sewer Expense
1325
Total Annual Expenses
111440

Lease Details

Land Leased
Not Applicable

Miscellaneous Information

Homestead
No

Ownership

Fractional Ownership
No

Parking Characteristics

Garage Dimensions
Two Buildings of 22x120
Garage Door Height
7
Garage Door Width
8
Garage Square Feet
5280

Public Survey Info

Range#
22
Section#
19
Township#
28

Sale Options

Sale Includes
Building, Leases

Unit 1

No. of 1 Bedroom Units
12

Unit 2

No. of 2 Bedroom Units
12

Unit Details

Total Units
24
IDX
Listing Office: Minnesota Realty Company
Last Updated: August - 07 - 2025
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