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The Lexington 195 Lexington Pky N 13 Unit Apartment Building $1,495,000 ($115,000/Unit) 6.89% Cap Rate Saint Paul, MN 55104
Investment Highlights
- Newer Roofs 2021
- Newer Hot Water System 2021
Executive Summary
This is a unique opportunity to acquire thirteen well-appointed apartments located in the heart of the Summit University and Union Park neighborhoods of Saint Paul, Minnesota. Stunning curb appeal, featuring 100% all brick and stone exterior. All the roofs have recently been replaced in 2021. The unit mix is all one bedroom, one bath with original oak hardwood floors and trim. Newer hot water boiler system and water heaters. Large double corner lot with over 0.35+ acres, twelve detached garages and a patio area for residents. This asset is the perfect property to buy in your 1031 IRC Tax Exchange!!
The neighborhood is centrally located and offers numerous restaurants, coffee shops, and parks, such as Linwood, Merriam, Iris, Cathedral Hill, and Western Sculpture Parks. Highly walkable with great access to public transportation along Lexington and the University METRO Green Line light rail. Just north of the historic Summit avenue with affluent mansions, churches, and colleges.
The neighborhood is centrally located and offers numerous restaurants, coffee shops, and parks, such as Linwood, Merriam, Iris, Cathedral Hill, and Western Sculpture Parks. Highly walkable with great access to public transportation along Lexington and the University METRO Green Line light rail. Just north of the historic Summit avenue with affluent mansions, churches, and colleges.
Data Room Click Here to Access
Financial Summary (Pro Forma - 2026) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$154,320
|
$15.36
|
| Other Income |
$1,560
|
$0.16
|
| Vacancy Loss |
$2,314
|
$0.23
|
| Effective Gross Income |
$153,566
|
$15.28
|
| Taxes |
$25,682
|
$2.56
|
| Operating Expenses |
$24,804
|
$2.47
|
| Total Expenses |
$50,486
|
$5.02
|
| Net Operating Income |
$103,080
|
$10.26
|
Financial Summary (Pro Forma - 2026)
| Gross Rental Income | |
|---|---|
| Annual | $154,320 |
| Annual Per SF | $15.36 |
| Other Income | |
|---|---|
| Annual | $1,560 |
| Annual Per SF | $0.16 |
| Vacancy Loss | |
|---|---|
| Annual | $2,314 |
| Annual Per SF | $0.23 |
| Effective Gross Income | |
|---|---|
| Annual | $153,566 |
| Annual Per SF | $15.28 |
| Taxes | |
|---|---|
| Annual | $25,682 |
| Annual Per SF | $2.56 |
| Operating Expenses | |
|---|---|
| Annual | $24,804 |
| Annual Per SF | $2.47 |
| Total Expenses | |
|---|---|
| Annual | $50,486 |
| Annual Per SF | $5.02 |
| Net Operating Income | |
|---|---|
| Annual | $103,080 |
| Annual Per SF | $10.26 |
Property Facts
| Price | $1,495,000 | Apartment Style | Low-Rise |
| Price Per Unit | $115,000 | Building Class | B |
| Sale Type | Investment | Lot Size | 0.35 AC |
| Cap Rate | 6.89% | Building Size | 10,560 SF |
| Sale Condition | 1031 Exchange | Average Occupancy | 100% |
| Gross Rent Multiplier | 9.73 | No. Stories | 4 |
| No. Units | 13 | Year Built | 1921 |
| Property Type | Multifamily | Parking Ratio | 1.14/1,000 SF |
| Property Subtype | Apartment | ||
| Zoning | Multi-Family | ||
| Price | $1,495,000 |
| Price Per Unit | $115,000 |
| Sale Type | Investment |
| Cap Rate | 6.89% |
| Sale Condition | 1031 Exchange |
| Gross Rent Multiplier | 9.73 |
| No. Units | 13 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | B |
| Lot Size | 0.35 AC |
| Building Size | 10,560 SF |
| Average Occupancy | 100% |
| No. Stories | 4 |
| Year Built | 1921 |
| Parking Ratio | 1.14/1,000 SF |
| Zoning | Multi-Family |
Amenities
- Smoke Detector
Unit Amenities
- Storage Space
- Ceiling Fans
- Tile Floors
- Kitchen
- Hardwood Floors
- Oven
- Yard
- Handrails
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 13 | $989.00 | 630 - 650 |
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Walk Score®
Very Walkable (79)
Property Taxes
| Parcel Number | 03-28-23-11-0083 | Total Assessment | $1,283,400 (2025) |
| Land Assessment | $260,000 (2025) | Annual Taxes | $25,682 ($2.43/SF) |
| Improvements Assessment | $1,023,400 (2025) | Tax Year | 2026 |
Property Taxes
Parcel Number
03-28-23-11-0083
Land Assessment
$260,000 (2025)
Improvements Assessment
$1,023,400 (2025)
Total Assessment
$1,283,400 (2025)
Annual Taxes
$25,682 ($2.43/SF)
Tax Year
2026
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The Lexington | 195 Lexington Pky N
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