$ 475,000
-
$475,000
Price -
4
Bed -
4
Bath -
2,600
SqFt -
0.12
Acre
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About the Listing 6582 - 502054393
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 Highlights
Interior Details
- Bedrooms: 4
- Bathrooms: 4 Full
- Appliances:
- Air Cond:
- Heating: Forced Air,Electric,Natural Gas
- Fireplaces:
- Floor:
- Above Ground Sq Ft: 2600
- Basement: Block
- Other:
- Water: City Water/Connected
Exterior Details
- Lot Description: Public Transit (w/in 6 blks),Corner Lot,Wood
- Garage Capacity: 4 car
- Lot Dimensions: 35x146
- Zoning: Business/Commercial,Residential-Multi-Family
- Roof:
- Others:
- Sewer: City Sewer/Connected
- Parking Features: Detached Garage,Heated Garage,Multiple Garages,Storage
Financial Details
- Tax Amount: $2,466
- Taxes w/Assessments: N/A
- Tax/Property ID: 322922210016
- Tax Year: 2025
Payment Calculator
Monthly Payment
- in Principal and Interest
- in Taxes
Questions About..
661 Payne Ave Saint Paul, MN 55130
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