1230 7th St W
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1230 7th St W
4 Unit Apartment Building $629,900 ($157,475/Unit) 6.22% Cap Rate Saint Paul, MN 55102
Investment Highlights
- Curb Appeal with Chicago Brick front Exterior!!
- Four Off-Street Parking Spots
- All Four Bathrooms have Newer Shower & Tub Surrounds in 2022
- Newer Flat Roof and Vinyl Windows
- One Kitchen has been Totally Remodeled!!
- Two Brand New Water Heaters in 2020
Executive Summary
TURN-KEY FOUR PLEX IN THE HEART OF SAINT PAUL FEATURING THREE 2-BEDROOM AND ONE 1-BEDROOM APARTMENTS. NEWER VINYL SLIDER WINDOWS AND THE FLAT ROOF WAS REPLACED APPROX. 15 YEARS AGO. ONE OF THE KITCHENS (APT.#2) HAS BEEN FULLY REMODELED WITH NEW CABINETS, QUARTZ COUNTERTOPS, AND STAINLESS STEEL APPLIANCES. THE ONSITE COIN LAUNDRY IS OWNED AND BRINGS IN EXTRA INCOME. BOTH WATER HEATERS WERE REPLACED IN 2020. ALL FOUR BATHROOM SHOWER/TUB SURROUNDS WERE UPGRADED IN 2022. THE FRONT EXTERIOR HAS THE ICONIC CHICAGO BRICK LOOK! RESIDENTS FEEL SAFE WITH A SECURED ENTRANCE. LOCATED ON A BUS ROUTE. THIS 4-PLEX IS VERY CLOSE TO DOWNTOWN ST.PAUL AND MPLS., THE MALL OF AMERICA, LOTS OF SHOPPING AND THE MINNEAPOLIS INTERNATIONAL AIRPORT. FULLY OCCUPIED WITH LEASES IN PLACE AND ONE UNIT COULD BE OWNER OCCUPIED BY THE BUYER!!
Data Room Click Here to Access
Financial Summary (Pro forma - 2024) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$57,852
|
$17.38
|
| Other Income |
$600
|
$0.18
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$58,452
|
$17.56
|
| Taxes |
$6,392
|
$1.92
|
| Operating Expenses |
$12,884
|
$3.87
|
| Total Expenses |
$19,276
|
$5.79
|
| Net Operating Income |
$39,176
|
$11.77
|
Financial Summary (Pro forma - 2024)
| Gross Rental Income | |
|---|---|
| Annual | $57,852 |
| Annual Per SF | $17.38 |
| Other Income | |
|---|---|
| Annual | $600 |
| Annual Per SF | $0.18 |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $58,452 |
| Annual Per SF | $17.56 |
| Taxes | |
|---|---|
| Annual | $6,392 |
| Annual Per SF | $1.92 |
| Operating Expenses | |
|---|---|
| Annual | $12,884 |
| Annual Per SF | $3.87 |
| Total Expenses | |
|---|---|
| Annual | $19,276 |
| Annual Per SF | $5.79 |
| Net Operating Income | |
|---|---|
| Annual | $39,176 |
| Annual Per SF | $11.77 |
Property Facts
Unit Amenities
- Air Conditioning
- Cable Ready
- Ceiling Fans
- Double Pane Windows
Site Amenities
- Controlled Access
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 1 | $1,064 | 650 |
| 2+1 | 3 | $1,266 | 775 |
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Walk Score ®
Very Walkable (76)
Bike Score ®
Very Bikeable (83)
PROPERTY TAXES
| Parcel Number | 11-28-23-43-0049 | Total Assessment | $448,000 (2023) |
| Land Assessment | $80,000 (2023) | Annual Taxes | $6,392 ($1.92/SF) |
| Improvements Assessment | $368,000 (2023) | Tax Year | 2024 Payable 2024 |
PROPERTY TAXES
Parcel Number
11-28-23-43-0049
Land Assessment
$80,000 (2023)
Improvements Assessment
$368,000 (2023)
Total Assessment
$448,000 (2023)
Annual Taxes
$6,392 ($1.92/SF)
Tax Year
2024 Payable 2024
zoning
| Zoning Code | Multi-Family (Multi-Family) |
| Multi-Family (Multi-Family) |
Contact
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1230 7th St W
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