Pending: West Saint Paul MLS# 6510083
Pending
$2,999,900
Commercial: Apartments
Built 1978
2.77 acres
West St. Paul-Mendota Hts. schools
MLS# 6510083
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Property 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
Listing Status:
Pending
Contingency:
None
List Price:
$2,999,900
Property Type:
Commercial
City:
West Saint Paul
Garage Spaces:
24
County:
Dakota
Year Built:
1978
State:
MN
Property Style:
Apartments
Zip Code:
55118
Subdivision Name:
Coverdale Add
Interior
Ceiling Height:
8-10
Ranges:
One Per Unit
Refrigerators:
One Per Unit
Appliances Included:
- Range
- Refrigerator
Basement Details:
None
Exterior
Stories:
Two
Garage Spaces:
24
Garage Dimensions:
Two Buildings of 22x120
Garage Size:
5,280 ft2
Garage Door Height:
7
Garage Door Width:
8
Other Parking Spaces:
24
Air Conditioning:
Window Unit(s)
Foundation Size:
12,732 ft2
Foundation Dimensions:
66x94
Handicap Accessible:
None
Road Responsibility:
Public Maintained Road
Heating System:
Baseboard
Parking Features:
Detached
Shared Amenities:
Coin-op Laundry Owned
Unit Amenities:
- Deck
- Patio
Road Frontage:
City Street
Exterior Material:
Brick/Stone
Roof Details:
- Age 8 Years or Less
- Flat
Lot & Land
Acres:
2.77
Geolocation:
44.90076300, -93.09278500
Inclusions:
Building, Leases
Lot Dimensions:
2.77 ACRES
Addl Parcels:
421850001082
Zoning:
Residential-Multi-Family
Lot Description:
- Corner Lot
- Public Transit (w/in 6 blks)
- Tree Coverage - Light
Farm
Topography:
Level
Schools
School District:
197
District Phone:
651-403-7002
Expenses
Annual Caretaker Expense:
None
Annual Electric Expense:
$1,600
Annual Insurance Expense:
$1,600
Annual Maintenance Expense:
$12,000
Annual Gross Expense:
$99,440
Annual Trash Expense:
$450
Annual Water/Sewer Expense:
$1,325
Tenant Expenses:
Cable TV, Electricity
Financial & Taxes
Tax Year:
2023
Annual Taxes:
$38,190
Lender-owned:
No
Assessment Pending:
Unknown
Taxes w/ Assessments:
$38,190
Income
Annual Gross Income:
$287,340
Rent
Annual Net Income:
$175,900
Units
Total Units:
24
Miscellaneous
Current Use:
Residential
Fuel System:
- Electric
- Natural Gas
Owner Occupied:
No
Sewer System:
City Sewer/Connected
Available Utilities:
- Electric Common
- Heating Common
- Hot Water Common
Water System:
City Water/Connected
Mortgage Calculator
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Local Home Mortgage Professionals
651-253-2144
Jason & Kim Stone
Branch Manager & Co-Branch Manager
Fairway Mortgage NMLS#1018649
Jason Stone joined Fairway Independent Mortgage Corporation in October 2017, as a Producing Branch Manager with over 15 years of experience in the mortgage industry. Throughout his career, Jason has originated over $500,000,000 in residential loan volume and has helped several thousand customers with their home financing needs. Jason was named Minneapolis Magazine: Super Mortgage Professional in 2018-2023, Scotsman Guide: Top Mortgage Originator 2019-2022, and Minnesota Housing: Platinum Leander. He is also a retired volunteer firefighter for the city of Mendota Heights, MN which is one of the reasons he’s a Home for Heroes affiliate lender.
Kim Stone joined Fairway Independent Mortgage Corporation in August 2021, as Co-Branch Manager and Loan Officer. Kim leverages her previous experience as a leader in the non-profit sector to provide care and support throughout each home financing transaction. She has a bachelor’s degree in Communication and Marketing from Minnesota State University, Mankato and a master’s degree in International Business from Nova Southeastern University in Ft Lauderdale, FL.
Leveraging more than 20 years of combined industry experience, the Stone Mortgage Team of Fairway Independent Mortgage Corporation, considers customer service as a way of life. Not only are we dedicated to finding great rates for our customers, but we also offer some of the fastest turn times in the industry. We pride ourselves on being personable, knowledgeable, accessible and reliable. Financing a home is one of the biggest commitments you will ever make - let us help guide you throughout the entire loan process from application to closing and beyond.
Kim Stone joined Fairway Independent Mortgage Corporation in August 2021, as Co-Branch Manager and Loan Officer. Kim leverages her previous experience as a leader in the non-profit sector to provide care and support throughout each home financing transaction. She has a bachelor’s degree in Communication and Marketing from Minnesota State University, Mankato and a master’s degree in International Business from Nova Southeastern University in Ft Lauderdale, FL.
Leveraging more than 20 years of combined industry experience, the Stone Mortgage Team of Fairway Independent Mortgage Corporation, considers customer service as a way of life. Not only are we dedicated to finding great rates for our customers, but we also offer some of the fastest turn times in the industry. We pride ourselves on being personable, knowledgeable, accessible and reliable. Financing a home is one of the biggest commitments you will ever make - let us help guide you throughout the entire loan process from application to closing and beyond.
It would be our pleasure to assist you with your home purchase!
Listing provided by RMLS,
courtesy of Minnesota Realty Company.
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.