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7th Avenue Apartments 2050 7th Ave E 36 Unit Apartment Building For Sale North Saint Paul, MN 55109
Investment Highlights
- Strong Occupancy
- Supply Constrained Submarket
- Connectivity to Employment and Recreation
Executive Summary
Michel Commercial is pleased to present 7th Avenue Apartments, a 36-home community in the city of North Saint Paul, Minnesota. Built in 1982, the property offers investors the opportunity to acquire a well-maintained asset with meaningful scale, convenient surface and covered parking, on-site laundry, and a strong location within an established Twin Cities submarket.
LOCATION & CONNECTIVITY
7th Avenue is located in North Saint Paul, a well-established suburb just northeast of downtown Saint Paul, offering residents convenient access to everyday amenities. Nearby shopping and dining options can be found along 7th Avenue E and in the surrounding Maplewood retail corridor, including Rosedale Mall and Maplewood Mall. Residents benefit from proximity to local parks such as Casey Lake Park, Gateway Trail, and Northwood Park, as well as nearby schools within ISD 622. The property also offers quick access to Interstate 694 and Highway 36, providing seamless connectivity to downtown Saint Paul, Minneapolis, and the greater Twin Cities metro.
INVESTMENT POTENTIAL
7th Avenue presents a compelling investment opportunity supported by strong in-place cash flow and the ability to further enhance returns. Select units have been beautifully renovated, offering a clear path for continued interior upgrades to drive rent growth across the remaining units. Additionally, the implementation of a RUBS program provides meaningful upside through utility reimbursements, creating an opportunity to increase income while maintaining competitive positioning within the submarket.
LOCATION & CONNECTIVITY
7th Avenue is located in North Saint Paul, a well-established suburb just northeast of downtown Saint Paul, offering residents convenient access to everyday amenities. Nearby shopping and dining options can be found along 7th Avenue E and in the surrounding Maplewood retail corridor, including Rosedale Mall and Maplewood Mall. Residents benefit from proximity to local parks such as Casey Lake Park, Gateway Trail, and Northwood Park, as well as nearby schools within ISD 622. The property also offers quick access to Interstate 694 and Highway 36, providing seamless connectivity to downtown Saint Paul, Minneapolis, and the greater Twin Cities metro.
INVESTMENT POTENTIAL
7th Avenue presents a compelling investment opportunity supported by strong in-place cash flow and the ability to further enhance returns. Select units have been beautifully renovated, offering a clear path for continued interior upgrades to drive rent growth across the remaining units. Additionally, the implementation of a RUBS program provides meaningful upside through utility reimbursements, creating an opportunity to increase income while maintaining competitive positioning within the submarket.
Property Facts
| Sale Type | Investment | Lot Size | 2.07 AC |
| No. Units | 36 | Building Size | 35,220 SF |
| Property Type | Multifamily | No. Stories | 3 |
| Property Subtype | Apartment | Year Built | 1982 |
| Apartment Style | Low-Rise | Parking Ratio | 2/1,000 SF |
| Building Class | C |
| Sale Type | Investment |
| No. Units | 36 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 2.07 AC |
| Building Size | 35,220 SF |
| No. Stories | 3 |
| Year Built | 1982 |
| Parking Ratio | 2/1,000 SF |
Amenities
Unit Amenities
- Air Conditioning
- Balcony
- Cable Ready
- Dishwasher
- Disposal
- Microwave
- Heating
- Kitchen
- Hardwood Floors
- Refrigerator
- Oven
- Stainless Steel Appliances
- Range
- Carpet
- Freezer
- Patio
- Window Coverings
Site Amenities
- Controlled Access
- Laundry Facilities
- Picnic Area
- Grill
- Online Services
- Public Transportation
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 24 | - | 690 |
| 2+2 | 12 | - | 1,100 |
1 1
Fairly walkable
40/100
Exceptionally drivable
100/100
Limited public transit
30/100
Moderately bikeable
60/100
Property Taxes
| Parcel Number | 14-29-22-13-0048 | Improvements Assessment | $2,748,200 |
| Land Assessment | $720,000 | Total Assessment | $3,468,200 |
Property Taxes
Parcel Number
14-29-22-13-0048
Land Assessment
$720,000
Improvements Assessment
$2,748,200
Total Assessment
$3,468,200
Contacts
-
Jesse Thurston -
Peter Michel -
Phil Reesnes -
Heidi Addo -
Ukee Dozier -
Stacie Mugazia -
Michel Commercial Real Estate
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7th Avenue Apartments | 2050 7th Ave E
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