For Sale: Saint Paul MLS# 7068786
Active
NEW!
$499,999
Multi-family: Fourplex
4 br • 4 ba • Built 1884
2,600 sqft • 0.12 acres
St. Paul schools
MLS# 7068786
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Property Description
A strong investment opportunity in one of Saint Paul’s high-demand rental corridors. This newly renovated
4-unit mixed-use property sits on a rare double lot and offers excellent cash flow potential with
additional upside through below-market rents. The property is Section 8 approved and enrolled in the City of Saint Paul’s 4-D Affordable Housing Program, providing valuable property tax reductions and long-term affordability incentives.
The asset features a versatile mixed-use zoning configuration that includes both a commercial garage
space and a traditional residential garage, creating flexibility for owner-operators, small businesses,
contractors, storage income, workshop use, or additional tenant amenities. Investors also have the option to maintain the property as a fully residential income-producing asset.
The building has undergone substantial renovations and stabilization, making it a turnkey opportunity for
investors seeking immediate cash flow with long-term appreciation potential. Spacious units, strong
rental demand, and flexible lease structures provide multiple operational strategies for future
ownership.
The oversized lot includes a shared backyard with patio space, green space, and garden potential, adding lifestyle appeal for tenants. Located along the vibrant Payne Avenue corridor, the property is walkable to neighborhood staples including Yarusso Bros, Minnesota Music Cafe, local restaurants, retail, parks, and the Bruce Vento Regional Trail.
Motivated seller. Excellent opportunity for investors seeking a stabilized multifamily asset with
mixed-use flexibility, tax advantages, and future upside in a rapidly improving East Saint Paul market.
Listing
Listing Status:
Active
Contingency:
None
List Price:
$499,999
Price per sq ft:
$192
Property Type:
Multi-family
City:
Saint Paul
Garage Spaces:
4
County:
Ramsey
Year Built:
1884
State:
MN
Property Style:
Fourplex
Zip Code:
55130
Neighborhood/Area:
98
Subdivision Name:
Phillips Add
Interior
Bedrooms:
4
Bathrooms:
4
Finished Area:
2,600 ft2
Living Area:
2,600 ft2
Refrigerators:
Four
Basement Details:
Block
Exterior
Stories:
Two
Garage Spaces:
4
Garage Size:
500 ft2
Foundation Size:
1,300 ft2
Fencing:
Wood
Handicap Accessible:
None
Heating System:
Forced Air
Parking Features:
- Detached Garage
- Heated Garage
- Multiple Garages
- Storage
Road Frontage:
City Street
Exterior Material:
Block
Rooms
Laundry:
Common Area
Lake & Waterfront
Waterfront Present:
N
Lot & Land
Acres:
0.12
Geolocation:
44.961419, -93.076597
Lot Dimensions:
35 x 146
Zoning:
- Business/Commercial
- Residential-Multi-Family
Lot Description:
- Corner Lot
- Public Transit (w/in 6 blks)
Schools
School District:
625
District Phone:
6517678100
Expenses
Annual Caretaker Expense:
None
Annual Electric Expense:
$2,600
Annual Fuel Expense:
None
Annual Insurance Expense:
$3,650
Annual Maintenance Expense:
$2,500
Annual Trash Expense:
$2,200
Annual Water/Sewer Expense:
$1,450
Financial & Taxes
Tax Year:
2025
Annual Taxes:
$2,466
Lender-owned:
No
Assessment Pending:
No
Taxes w/ Assessments:
$2,466
Income
Annual Gross Income:
$57,600
Rent
Annual Net Income:
$44,450
Units
Total Units:
4
Miscellaneous
Fuel System:
- Electric
- Natural Gas
Sewer System:
City Sewer/Connected
Water System:
City Water/Connected
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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 Keller Williams Realty Integrity Lakes.
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.