$ 619,000
-
$619,000
Price -
9
Bed -
5
Bath -
4,048
SqFt -
0.11
Acre
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About the Listing 40666 - 502001070,502054393
A rare chance to acquire a modern, fully occupied multifamily building (built 2004) in Saint Paul with strong, immediate positive cash flow and built-in upside potential. Price includes adjacent, vacant lot at 1020 Ross Ave, which currently serves as tenant green space and garden. 5 rented units currently generating income — all units are leased with long-term, reliable tenants in place, providing stable monthly cash flow from day one. Proven performer: The building is in excellent condition for its age, with identical or near-identical layouts (most units ~1,000 sq ft, 2 bed/1 bath), minimizing maintenance surprises and appealing to a wide tenant pool. Significant value-add opportunity: Configure and add a sixth unit to boost rental income and overall NOI substantially — ideal for an investor looking to increase returns through light renovations or reconfiguration (buyer to verify feasibility with city permitting). Modern construction advantages: Built in 2004 (6,048 sq ft total), offering lower capex compared to older properties, better energy efficiency, and stronger tenant retention. Prime East Side location: Convenient access to amenities, employment centers, transit, and downtown Saint Paul, supporting consistent occupancy and rent growth potential in a steadily appreciating market. This property delivers immediate positive cash flow from 5 occupied units while offering clear upside to add a sixth unit for enhanced yields. Fully turnkey with tenants in place — perfect for portfolio expansion.
Listing Highlights
Interior Details
- Bedrooms: 9
- Bathrooms: 5 Full
- Appliances: Dishwasher, Microwave, Refrigerator
- Air Cond: Central Air
- Heating: Forced Air,Electric,Natural Gas
- Fireplaces:
- Floor:
- Basement: Daylight/Lookout Windows,Drainage System,Concrete,Partially Finished,Single Tenant Access,Storage Space,Walkout
- Other: Balcony
- Water: City Water/Connected
Exterior Details
- Lot Description: Public Transit (w/in 6 blks)
- Garage Capacity: N/A
- Lot Dimensions: 38 x 172 x 38 x 172
- Zoning: Residential-Multi-Family
- Roof: Age 8 Years or Less,Asphalt
- Others:
- Sewer: City Sewer/Connected
- Parking Features: Asphalt,Unassigned
Financial Details
- Tax Amount: $10,100
- Taxes w/Assessments: N/A
- Tax/Property ID: 282922340019
- Tax Year: 2025
Payment Calculator
Monthly Payment
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Questions About..
1024 Ross Ave Saint Paul, MN 55106
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