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Holly Avenue Apartments 583 Holly Ave 8 Unit Apartment Building $1,097,000 ($137,125/Unit) Saint Paul, MN 55102
INVESTMENT HIGHLIGHTS
- Separate utility meters for Gas/Heat & Electric
- Mostly MTM leases
- Preserved Original Woodwork & Wood floors, Tall - 10ft Ceilings
- Split entrances for enhanced security
EXECUTIVE SUMMARY
MRG Realty Partners is pleased to present 583 Holly Avenue, an 8-unit multifamily investment opportunity located in the historic Summit-University neighborhood of St. Paul. The property is comprised of seven two-bedroom units and one one-bedroom unit, with most layouts offering additional bonus space often utilized as a third bedroom, office, or den.
The units feature classic architectural character like high ceilings, original woodwork, built-in cabinetry, and front and back balconies—elements that enhance tenant appeal and provide flexible living options. Current rents remain below market, and the majority of leases are month-to-month, giving new ownership immediate flexibility to adjust rents, implement lease renewals, and reposition the property to modern standards.
Operationally, tenants pay their own gas and electric. There is near-term opportunity to further reduce owner exposure by billing tenants for water, sewer, and trash. Off-street parking is available and has the potential to generate additional income as leases turn over.
Positioned in a highly walkable and bikeable location near shops, restaurants, and neighborhood amenities, 583 Holly Avenue offers stable occupancy today with multiple avenues to increase revenue and maximize long-term cash flow.
The units feature classic architectural character like high ceilings, original woodwork, built-in cabinetry, and front and back balconies—elements that enhance tenant appeal and provide flexible living options. Current rents remain below market, and the majority of leases are month-to-month, giving new ownership immediate flexibility to adjust rents, implement lease renewals, and reposition the property to modern standards.
Operationally, tenants pay their own gas and electric. There is near-term opportunity to further reduce owner exposure by billing tenants for water, sewer, and trash. Off-street parking is available and has the potential to generate additional income as leases turn over.
Positioned in a highly walkable and bikeable location near shops, restaurants, and neighborhood amenities, 583 Holly Avenue offers stable occupancy today with multiple avenues to increase revenue and maximize long-term cash flow.
DATA ROOM Click Here to Access
- Operating and Financials
FINANCIAL SUMMARY (PRO FORMA - 2025) Click Here to Access |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
$99,999
|
$9.99
|
| Vacancy Loss |
$99,999
|
$9.99
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
FINANCIAL SUMMARY (PRO FORMA - 2025) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Vacancy Loss | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
PROPERTY FACTS
| Price | $1,097,000 | Lot Size | 0.16 AC |
| Price Per Unit | $137,125 | Building Size | 11,184 SF |
| Sale Type | Investment | Average Occupancy | 100% |
| No. Units | 8 | No. Stories | 3 |
| Property Type | Multifamily | Year Built/Renovated | 1890/1981 |
| Property Subtype | Apartment | Parking Ratio | 0.54/1,000 SF |
| Building Class | C | ||
| Zoning | Multi-Family - Multi-Family | ||
| Price | $1,097,000 |
| Price Per Unit | $137,125 |
| Sale Type | Investment |
| No. Units | 8 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Building Class | C |
| Lot Size | 0.16 AC |
| Building Size | 11,184 SF |
| Average Occupancy | 100% |
| No. Stories | 3 |
| Year Built/Renovated | 1890/1981 |
| Parking Ratio | 0.54/1,000 SF |
| Zoning | Multi-Family - Multi-Family |
AMENITIES
UNIT AMENITIES
- Balcony
- Hardwood Floors
- Built-In Bookshelves
- Dining Room
SITE AMENITIES
- Laundry Facilities
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 1 | $1,150 | 800 |
| 2+1 | 7 | $1,500 | 1,200 |
1 1
Walk Score®
Very Walkable (86)
Bike Score®
Very Bikeable (77)
PROPERTY TAXES
| Parcel Number | 01-28-23-23-0093 | Total Assessment | $1,151,000 |
| Land Assessment | $160,000 | Annual Taxes | ($1) ($0.00/SF) |
| Improvements Assessment | $991,000 | Tax Year | 2025 |
PROPERTY TAXES
Parcel Number
01-28-23-23-0093
Land Assessment
$160,000
Improvements Assessment
$991,000
Total Assessment
$1,151,000
Annual Taxes
($1) ($0.00/SF)
Tax Year
2025
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Holly Avenue Apartments | 583 Holly Ave
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