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1910 Feronia Ave 7 Unit Apartment Building $1,225,000 ($175,000/Unit) 6.01% Cap Rate Saint Paul, MN 55104
INVESTMENT HIGHLIGHTS
- Fully Occupied
- Coin Laundry Onsite
- Newer Kitchens and Bathrooms
- Newer Roof and Windows
- 18 Off Street Parking Spots
EXECUTIVE SUMMARY
This is an amazing opportunity to acquire seven well-appointed apartments located in the heart of the Midway neighborhood of Saint Paul, MN. Every unit is unique in its own way accentuating remodeled kitchens and bathrooms, hardwood floors and luxury vinyl plank, and stainless-steel appliances. The unit mix is five 2-bedroom and two 3-bedroom. Well-constructed in 1890 and featuring newer roof, vinyl siding, and windows. Fully rented, on-site coin laundry, and balconies! One of the units is a two story two-bedroom and one 1/2 bath apartment with a spiral staircase. Property sits on 1/3 of an acre, nicely landscaped, new concrete sidewalks and stairs, and decorative retaining wall. Tenants pay most of the utilities including heat. Plenty of off-street parking in back with 9 tandem parking spots for a total of 18.
DATA ROOM Click Here to Access
FINANCIAL SUMMARY (PRO FORMA - 2025) |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$116,344
|
$12.61
|
| Other Income |
$1,872
|
$0.20
|
| Vacancy Loss |
$1,745
|
$0.19
|
| Effective Gross Income |
$116,471
|
$12.62
|
| Taxes |
$20,966
|
$2.27
|
| Operating Expenses |
$21,841
|
$2.37
|
| Total Expenses |
$42,807
|
$4.64
|
| Net Operating Income |
$73,664
|
$7.98
|
FINANCIAL SUMMARY (PRO FORMA - 2025)
| Gross Rental Income | |
|---|---|
| Annual | $116,344 |
| Annual Per SF | $12.61 |
| Other Income | |
|---|---|
| Annual | $1,872 |
| Annual Per SF | $0.20 |
| Vacancy Loss | |
|---|---|
| Annual | $1,745 |
| Annual Per SF | $0.19 |
| Effective Gross Income | |
|---|---|
| Annual | $116,471 |
| Annual Per SF | $12.62 |
| Taxes | |
|---|---|
| Annual | $20,966 |
| Annual Per SF | $2.27 |
| Operating Expenses | |
|---|---|
| Annual | $21,841 |
| Annual Per SF | $2.37 |
| Total Expenses | |
|---|---|
| Annual | $42,807 |
| Annual Per SF | $4.64 |
| Net Operating Income | |
|---|---|
| Annual | $73,664 |
| Annual Per SF | $7.98 |
PROPERTY FACTS
AMENITIES
- Smoke Detector
UNIT AMENITIES
- Air Conditioning
- Washer/Dryer
- Eat-in Kitchen
- Kitchen
- Hardwood Floors
- Range
- Deck
- Dining Room
- Lawn
- Window Coverings
- Large Bedrooms
SITE AMENITIES
- Public Transportation
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 2+1.5 | 1 | $1,500 | 1,100 |
| 3+1 | 2 | $1,800 | 1,200 |
| 2+1 | 4 | $1,400 | 900 - 1,000 |
1 1
Walk Score®
Very Walkable (75)
Bike Score®
Very Bikeable (79)
PROPERTY TAXES
| Parcel Number | 33-29-23-31-0068 | Total Assessment | $929,100 |
| Land Assessment | $140,000 | Annual Taxes | $20,966 ($2.27/SF) |
| Improvements Assessment | $789,100 | Tax Year | 2025 Payable 2025 |
PROPERTY TAXES
Parcel Number
33-29-23-31-0068
Land Assessment
$140,000
Improvements Assessment
$789,100
Total Assessment
$929,100
Annual Taxes
$20,966 ($2.27/SF)
Tax Year
2025 Payable 2025
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1910 Feronia Ave
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