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1599-1605 Rice St 4 Unit Apartment Building $829,999 ($207,500/Unit) 11.07% Cap Rate Saint Paul, MN 55117
EXECUTIVE SUMMARY
Rare opportunity to own a well-maintained 2004-built 4-unit investment property totaling 5,230 SF on a .21-acre lot. This turnkey investment features two spacious 4BR/2BA units (1, 635 SF each) and two 3BR/1BA units (980 SF each) , all with individual entrances and attached garages. PROPERTY HIGHLIGHTS : Built in 2004 with modern amenities throughout Individual HVAC systems for each unit In-unit washer/dryer connections Stainless steel appliances including side-by-side refrigerators Wood flooring and ample storage 4 attached garages plus 5 surface parking spaces (2.25 spaces/ unit) Excellent condition with minimal deferred maintenance Pro Forma NOI: $91, 871 (11.07% cap rate with market rents).
PROPERTY FACTS
| Price | $829,999 | Building Class | B |
| Price Per Unit | $207,500 | Lot Size | 0.21 AC |
| Sale Type | Investment | Building Size | 5,230 SF |
| Cap Rate | 11.07% | Average Occupancy | 100% |
| No. Units | 4 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 2004 |
| Property Subtype | Apartment | Parking Ratio | 1.72/1,000 SF |
| Apartment Style | Low-Rise | Opportunity Zone |
Yes
|
| Price | $829,999 |
| Price Per Unit | $207,500 |
| Sale Type | Investment |
| Cap Rate | 11.07% |
| No. Units | 4 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | B |
| Lot Size | 0.21 AC |
| Building Size | 5,230 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 2004 |
| Parking Ratio | 1.72/1,000 SF |
| Opportunity Zone |
Yes |
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 3+1 | 2 | - | 1,000 |
| 4+2 | 2 | - | 1,750 |
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Bike Score®
Very Bikeable (70)
PROPERTY TAXES
| Parcel Number | 24-29-23-11-0128 | Improvements Assessment | $603,000 |
| Land Assessment | $80,000 | Total Assessment | $683,000 |
PROPERTY TAXES
Parcel Number
24-29-23-11-0128
Land Assessment
$80,000
Improvements Assessment
$603,000
Total Assessment
$683,000
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Grant Johnson Group - Real Broker
1599-1605 Rice St
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