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Tim Murphy

timmurphy@metropolitanhometeam.com +1(952) 223-0999

$ 699,900

Est. payment | -/mo

9,583 Sqft Lot

Save

$ 699,900

Est. payment | -/mo

Save

9,583 Sqft Lot

Key Details

Property Type Commercial

Listing Status Pending

Purchase Type For Sale

Subdivision Clarkes Add

MLS Listing ID 7024561

Year Built 1966

Annual Tax Amount $13,372

Tax Year 2025

Contingent None

Lot Size 9,583 Sqft

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! ORIGINALLY BUILT WITH AN OFFICE THERE IS A WAY TO CONVERT BACK TO 7 UNITS PLUS OFFICE OR MAKE THE SPACE BEHIND THE LAUNDRY ROOM ANOTHER 8TH UNIT. INCREASE CASH FLOW BY IMPLEMENTING A RATIO UTILITY BILLING SYSTEM (RUBS) TO CAPTURE MORE INCOME. A NEW OWNER CAN RAISE RENTS ON LEASE RENEWALS TO CAPTURE A HIGHER RETURN ON THEIR INVESTMENT! NET OPERATING INCOME $57,272.08 AND A TRUE 8.18+ CAP RATE

Location

State MN

County Ramsey

Zoning Residential-Multi-Family

Rooms

Basement Egress Window(s), Finished, Full

Interior

Heating Boiler, Hot Water

Cooling Wall Unit(s)

Flooring Carpet, Luxury Vinyl Plank, Tile, Wood

Inclusions Building, Land, Leases, Rental License

Fireplace No

Appliance Range, Refrigerator

Exterior

Parking Features Detached Garage, Asphalt, Parking Lot

Garage Spaces 4.0

Fence Chain Link

Pool None

Utilities Available Electric Separate, Heating Common, Hot Water Common

Roof Type Age Over 8 Years,Asphalt,Pitched

Present Use Residential

Building

Lot Description Tree Coverage - Light

Story Two

Foundation 3800

Sewer City Sewer/Connected

Water City Water/Connected

Level or Stories Two

Structure Type Block,Brick

New Construction false

Schools

School District St. Paul

Listed by Nathan Opatz • Apartment Cash Flow, Inc.

Nearby Locations

GET MORE INFORMATION

Tim Murphy

REALTOR® | Lic# 20409541

timmurphy@metropolitanhometeam.com

+1(952) 223-0999

15451 Founders Ln, Apple Valley, MN, 55124

1145 7th ST W Saint Paul, MN 55102

Tim Murphy

Key Details

Location

Rooms

Interior

Exterior

Building

Schools

1145 7th ST W