$ 1,150,000
-
$1,150,000
Price -
10,260
SqFt -
0.17
Acre
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About the Listing 27376 - 506069385
Charles Place apartments presents a unique value-add investment opportunity right in the heart of Saint Paul within walking distance to the newly built Allianz Stadium where the MN United soccer team plays! This whole Merriam Park neighborhood currently is in an opportunity zone and is getting transformed into a trendy and upscale destination. Take advantage of this opportunity to acquire 15 units, all-brick exterior, built in 1940 with original oak hardwood flooring and original doors and plaster coved ceilings. A newer Lochinvar Knight hot water boiler system was installed in 2012 and newer water heaters in 2010. The whole building received newer Andersen Series 100 windows in 2018. Electrical panels to each unit are on 60-amp breakers. Operations receive additional revenue from on-site coin operated laundry. All units are currently occupied and leased and ready for new owners to take over!! Average studio rent is $777 and average one-bedroom rent is $876 per month with plenty of room to move these rents up to market. Stabilized with zero delinquencies and a current in place 9.23% Cap Rate!!
Listing Highlights
Interior Details
- Appliances: Range, Refrigerator
- Air Cond: Window Unit(s)
- Heating: Boiler,Hot Water,Natural Gas
- Fireplaces:
- Floor:
- Basement: Daylight/Lookout Windows,Finished,Full,Concrete,Partially Finished
- Other:
- Water: City Water/Connected
Exterior Details
- Lot Description: Tree Coverage - Light
- Garage Capacity: N/A
- Lot Dimensions: 50 x 120
- Zoning: Residential-Multi-Family
- Roof: Age Over 8 Years,Flat
- Others:
- Sewer: City Sewer/Connected
- Parking Features: On-Street Parking Only
Financial Details
- Tax Amount: $24,792
- Taxes w/Assessments: N/A
- Tax/Property ID: 332923140039
- Tax Year: 2025
Payment Calculator
Monthly Payment
- in Principal and Interest
- in Taxes
Questions About..
1631 Charles Ave Saint Paul, MN 55104
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