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487 Grand Ave 18 Unit Apartment Building $1,900,000 ($105,556/Unit) Saint Paul, MN 55102
Executive Summary
Welcome to an exceptional investment opportunity in the heart of St. Paul! This charming three-story, 19-unit apartment building is perfectly situated on historic Grand Ave, elegantly perched on a hill that offers breathtaking river views.This well-maintained building features original hardwood floors throughout, showcasing the timeless craftsmanship and architectural character that defines this beautiful property. The spacious units comprise 12 studio apartments and 7 one-bedroom apartments, each benefitting from great natural light and stunning vistas through large windows.Key features include:
Vacant building ready for new ownership
Recent upgrades, including a newer boiler and roof, ensuring efficiency and reliability
Clean and well-kept interiors, inviting a variety of potential uses
Updates -New roof was put on in 2016- 60Mil EPDM. 15-year warranty on labor and material.
-Electrical has been updated ( no fuses)
-Central fire alarm system- Kidde.
-Boiler- (2018)
-Video surveillance with recording
Great layout with large unit sizes, allowing for versatile living arrangements
Historically, the property served as a supportive housing medical facility, creating an ideal opportunity for the new owner to continue in that capacity or transition to market-rate apartments, sober housing, supportive housing, or other beneficial uses.Don’t miss the chance to acquire this fantastic investment on Grand Ave, where charm meets modern updates, all while being surrounded by scenic views and the vibrant community of St. Paul.
Vacant building ready for new ownership
Recent upgrades, including a newer boiler and roof, ensuring efficiency and reliability
Clean and well-kept interiors, inviting a variety of potential uses
Updates -New roof was put on in 2016- 60Mil EPDM. 15-year warranty on labor and material.
-Electrical has been updated ( no fuses)
-Central fire alarm system- Kidde.
-Boiler- (2018)
-Video surveillance with recording
Great layout with large unit sizes, allowing for versatile living arrangements
Historically, the property served as a supportive housing medical facility, creating an ideal opportunity for the new owner to continue in that capacity or transition to market-rate apartments, sober housing, supportive housing, or other beneficial uses.Don’t miss the chance to acquire this fantastic investment on Grand Ave, where charm meets modern updates, all while being surrounded by scenic views and the vibrant community of St. Paul.
Property Facts
| Price | $1,900,000 | Building Class | C |
| Price Per Unit | $105,556 | Lot Size | 0.10 AC |
| Sale Type | Investment | Building Size | 12,540 SF |
| No. Units | 18 | No. Stories | 3 |
| Property Type | Multifamily | Year Built | 1928 |
| Property Subtype | Apartment | Parking Ratio | 0.24/1,000 SF |
| Apartment Style | Low-Rise | ||
| Zoning | C | ||
| Price | $1,900,000 |
| Price Per Unit | $105,556 |
| Sale Type | Investment |
| No. Units | 18 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.10 AC |
| Building Size | 12,540 SF |
| No. Stories | 3 |
| Year Built | 1928 |
| Parking Ratio | 0.24/1,000 SF |
| Zoning | C |
Amenities
Unit Amenities
- Air Conditioning
- Heating
- Kitchen
- Refrigerator
- Oven
- Range
- Tub/Shower
Site Amenities
- 24 Hour Access
- Controlled Access
- Tenant Controlled HVAC
- Trash Pickup - Curbside
- Smoke Detector
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 18 | - | - |
1 1
Moderately walkable
60/100
Exceptionally drivable
100/100
Good public transit
60/100
Fairly bikeable
50/100
Property Taxes
| Parcel Number | 01-28-23-31-0107 | Improvements Assessment | $1,350,100 |
| Land Assessment | $360,000 | Total Assessment | $1,710,100 |
Property Taxes
Parcel Number
01-28-23-31-0107
Land Assessment
$360,000
Improvements Assessment
$1,350,100
Total Assessment
$1,710,100
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487 Grand Ave