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Snelling Station Apartments 1530 Sherburne Ave 12 Unit Apartment Building $1,050,000 ($87,500/Unit) Saint Paul, MN 55104
Investment Highlights
- Enrolled in 4D Tax Program
- ?$87,500/Unit
- ?Laundry On-Site
- ?100% Occupied
- ?$81,735 Proforma NOI
- ?Unit Storage Lockers
Executive Summary
1530 Sherburne Ave is a fully occupied 12-unit multifamily in St.? Paul's Midway neighborhood, just blocks from Allianz Field and the Green Line light rail. The building is made up of twelve 1BR/1BA units, each with a rear patio overlooking a private tenant courtyard, and includes two coin-operated laundry sets on site. Recent improvements include a complete basement cleanout, drywall repairs and fresh paint in common area stairwells, and unit updates throughout. The property entered the St. Paul 4d Affordable Housing Incentive Program in 2026, cutting property taxes from $21,784 in 2025 to roughly $5,388 in 2026, which is the centerpiece of the pro-forma along with the completion of five heavy unit turns in 2025.
Contact Luke Hermanson at 651-428-7814 or Luke@MRGRealtyPartners.?com for the full financial package and to schedule a tour.
Contact Luke Hermanson at 651-428-7814 or Luke@MRGRealtyPartners.?com for the full financial package and to schedule a tour.
Property Facts
| Price | $1,050,000 | Building Class | C |
| Price Per Unit | $87,500 | Lot Size | 0.18 AC |
| Sale Type | Investment | Building Size | 12,096 SF |
| No. Units | 12 | Average Occupancy | 100% |
| Property Type | Multifamily | No. Stories | 2 |
| Property Subtype | Apartment | Year Built/Renovated | 1911/1982 |
| Apartment Style | Low-Rise | Opportunity Zone |
Yes
|
| Zoning | T2 | ||
| Price | $1,050,000 |
| Price Per Unit | $87,500 |
| Sale Type | Investment |
| No. Units | 12 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.18 AC |
| Building Size | 12,096 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built/Renovated | 1911/1982 |
| Opportunity Zone |
Yes |
| Zoning | T2 |
Amenities
Unit Amenities
- Storage Space
- Kitchen
- Sprinkler System
- Tub/Shower
- Patio
Site Amenities
- 24 Hour Access
- Courtyard
- Laundry Facilities
- Public Transportation
- Walk-Up
- Smoke Detector
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 12 | - | 700 |
1 1
Moderately walkable
70/100
Very drivable
80/100
Good public transit
70/100
Moderately bikeable
60/100
Property Taxes
| Parcel Number | 34-29-23-23-0125 | Improvements Assessment | $760,400 |
| Land Assessment | $240,000 | Total Assessment | $1,000,400 |
Property Taxes
Parcel Number
34-29-23-23-0125
Land Assessment
$240,000
Improvements Assessment
$760,400
Total Assessment
$1,000,400
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Snelling Station Apartments | 1530 Sherburne Ave
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