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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
Come take a look at this fully-occupied 8-unit multifamily investment opportunity located in the Summit-University neighborhood.
Tenants love the layout of these units & commonly use 3/8 units as 3 BR or 2BR+ den units (using the sun room leading to the porch as a 3rd bedroom)
Each unit has its own boiler and water heater. Tenants pay ALL their own Gas (cooking & heat) - so the owner has below average utility costs.
The units feature classic architectural character like high ceilings, original woodwork, built-in cabinetry, and large porches!
The longer-term tenants rent below market & have opportunities to increase with pet & off-street parking income.
Leases have a mix of MTM and expirations into late 2026, offering stability and flexibility for a buyer to immediately implement their own lease terms
Located centrally between downtown St Paul & Minneapolis for quick commutes, nearby grocery shopping, restaurants, and nightlife.
Reach out to the listing agents below for more financial information and tours:
Nate Schammel - (651) 955-4255 - nate@mrgrealtypartners.com
Luke Hermanson -(651) 428-7814 - Luke@mrgrealtypartners.com
Tenants love the layout of these units & commonly use 3/8 units as 3 BR or 2BR+ den units (using the sun room leading to the porch as a 3rd bedroom)
Each unit has its own boiler and water heater. Tenants pay ALL their own Gas (cooking & heat) - so the owner has below average utility costs.
The units feature classic architectural character like high ceilings, original woodwork, built-in cabinetry, and large porches!
The longer-term tenants rent below market & have opportunities to increase with pet & off-street parking income.
Leases have a mix of MTM and expirations into late 2026, offering stability and flexibility for a buyer to immediately implement their own lease terms
Located centrally between downtown St Paul & Minneapolis for quick commutes, nearby grocery shopping, restaurants, and nightlife.
Reach out to the listing agents below for more financial information and tours:
Nate Schammel - (651) 955-4255 - nate@mrgrealtypartners.com
Luke Hermanson -(651) 428-7814 - Luke@mrgrealtypartners.com
FINANCIAL SUMMARY (PRO FORMA - 2026) 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 - 2026) 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 | $1,550 | 1,200 |
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Walk Score®
Very Walkable (86)
Bike Score®
Very Bikeable (77)
PROPERTY TAXES
| Parcel Number | 01-28-23-23-0093 | Total Assessment | $1,151,000 (2025) |
| Land Assessment | $160,000 (2025) | Annual Taxes | ($1) ($0.00/SF) |
| Improvements Assessment | $991,000 (2025) | Tax Year | 2026 |
PROPERTY TAXES
Parcel Number
01-28-23-23-0093
Land Assessment
$160,000 (2025)
Improvements Assessment
$991,000 (2025)
Total Assessment
$1,151,000 (2025)
Annual Taxes
($1) ($0.00/SF)
Tax Year
2026
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Holly Avenue Apartments | 583 Holly Ave
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