Red Mill Apartments 1179 7th St E 6 Unit Apartment Building $800,000 ($133,333/Unit) 8.26% Cap Rate Saint Paul, MN 55106

Bank Owned Asset – Newly Renovated Property with Large Floorplans, 100% Occupied.
Cushman & Wakefield is pleased to present for sale, Red Mill Apartments, a 6-unit multifamily property located in St. Paul, Minnesota just eight minutes east of downtown. The property is bank-owned and fully stabilized.
A historical building, originally built in 1889 and newly renovated in 2021, Red Mill Apartments is a well-appointed multifamily property featuring spacious (average of 1,322 SF) one, two, three, and four-bedroom units. All units include new kitchens, bathrooms, flooring, concrete patios, mechanicals, and a new roof. The property includes 12-off street parking spaces and in-unit washers and dryers.
The property is located in the Dayton’s Bluff neighborhood, a picturesque and scenic area of town high above the Mississippi with historical and architectural charm. The property is a short walk to the local bus line and ideally situated near Interstates 94 and 35W offering convenient access to all of St. Paul and the Twin Cities.
Red Mill Apartments represent a prime opportunity to acquire a fully-renovated, highly sought after, stabilized property at a significant discount to replacement cost.