699 3rd St E
Saint Paul, MN 55106

Cushman & Wakefield NorthMarq is pleased to present 699 3rd St E. Apartments, a 25-unit value-add investment opportunity in St. Paul, MN. 699 3rd St E. is located within the historic Dayton' s Bluff neighborhood of St. Paul, only one block from the Metropolitan State University St. Paul Campus. Average rents are up 12% over the last two years, and they are still roughly 10% below comparable properties in the market. Immediate upside can be realized through efficiencies in management and implementing a light in-unit renovation plan. The unit mix is ideal for the location with 5 studios (500sf), 14 one bedroom (675sf) and 6 two bedroom units (800sf). Future ownership will be able to build on a multi-year track record of NOI growth and benefit from a deep renter pool. Low long-term interest rates, continued rent growth and minimal ongoing capital requirements will make 699 3rd St a solid investment with strong cash-on-cash returns. The property is one mile from the new CHS field where the St. Paul Saints play, and the Union Depot and Lightrail stop. Walkable retail, fitness, grocery and entertainment options include Lunds & Byerlys, Cub Foods, The Strip Club Meat & Fish Restaurant, Manana Restaurant, Swede Hollow Café and the Goat Coffeehouse. There are numerous parks and outdoor recreation destinations in close proximity to the property as well including Dayton' s Bluff Recreation Center, Bruce Vento Nature Sanctuary, Swede Hollow Park and Lower Landing Park.