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729 Oakdale Ave 23 Unit Apartment Building $2,600,000 ($113,043/Unit) 7.17% Cap Rate Saint Paul, MN 55107
INVESTMENT HIGHLIGHTS
- 3-Story all brick exterior
- On-site coin laundry
- Located across 0.52 acres on a corner lot
- 10 detached garages for extra income
- Excellent mix of 12-2bd and 11-1bd apartments
EXECUTIVE SUMMARY
This is an amazing opportunity to acquire a solid well-built 23-unit apartment building close to the Cherokee Park neighborhood of Saint Paul and near West Saint Paul & South St. Paul cities in Minnesota.
Built in 1963 the unit make-up is twelve 2-bedroom and eleven 1-bedroom apartments all with one full bathroom. Beautiful all-brick exterior with three stories and spread across an oversized 0.52-acre corner lot. Fully rented, on-site coin laundry and a newer hot water heater! Average two-bedroom rents are at $1,184 and one-bedroom rents at $1,049. There are five two-car double garages that are 100% occupied and bring in extra cash flow. Located on a bus route and near highways 52, 494, and 94
729 Oakdale Ave is the perfect investment property to buy with doing a 1031 IRC tax exchange from the sale of your smaller 4-10 units. Increase your monthly cash flow and take advantage of your tax benefits with new depreciation.
Built in 1963 the unit make-up is twelve 2-bedroom and eleven 1-bedroom apartments all with one full bathroom. Beautiful all-brick exterior with three stories and spread across an oversized 0.52-acre corner lot. Fully rented, on-site coin laundry and a newer hot water heater! Average two-bedroom rents are at $1,184 and one-bedroom rents at $1,049. There are five two-car double garages that are 100% occupied and bring in extra cash flow. Located on a bus route and near highways 52, 494, and 94
729 Oakdale Ave is the perfect investment property to buy with doing a 1031 IRC tax exchange from the sale of your smaller 4-10 units. Increase your monthly cash flow and take advantage of your tax benefits with new depreciation.
DATA ROOM Click Here to Access
FINANCIAL SUMMARY (PRO FORMA - 2025) |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$313,860
|
$15.12
|
| Other Income |
$4,784
|
$0.23
|
| Vacancy Loss |
$6,277
|
$0.30
|
| Effective Gross Income |
$312,367
|
$15.05
|
| Taxes |
$43,226
|
$2.08
|
| Operating Expenses |
$82,663
|
$3.98
|
| Total Expenses |
$125,889
|
$6.06
|
| Net Operating Income |
$186,478
|
$8.98
|
FINANCIAL SUMMARY (PRO FORMA - 2025)
| Gross Rental Income | |
|---|---|
| Annual | $313,860 |
| Annual Per SF | $15.12 |
| Other Income | |
|---|---|
| Annual | $4,784 |
| Annual Per SF | $0.23 |
| Vacancy Loss | |
|---|---|
| Annual | $6,277 |
| Annual Per SF | $0.30 |
| Effective Gross Income | |
|---|---|
| Annual | $312,367 |
| Annual Per SF | $15.05 |
| Taxes | |
|---|---|
| Annual | $43,226 |
| Annual Per SF | $2.08 |
| Operating Expenses | |
|---|---|
| Annual | $82,663 |
| Annual Per SF | $3.98 |
| Total Expenses | |
|---|---|
| Annual | $125,889 |
| Annual Per SF | $6.06 |
| Net Operating Income | |
|---|---|
| Annual | $186,478 |
| Annual Per SF | $8.98 |
PROPERTY FACTS
| Price | $2,600,000 | Apartment Style | Low-Rise |
| Price Per Unit | $113,043 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.52 AC |
| Cap Rate | 7.17% | Building Size | 20,757 SF |
| Sale Condition | 1031 Exchange | Average Occupancy | 100% |
| Gross Rent Multiplier | 8.28 | No. Stories | 3 |
| No. Units | 23 | Year Built | 1963 |
| Property Type | Multifamily | Parking Ratio | 1.46/1,000 SF |
| Property Subtype | Apartment |
| Price | $2,600,000 |
| Price Per Unit | $113,043 |
| Sale Type | Investment |
| Cap Rate | 7.17% |
| Sale Condition | 1031 Exchange |
| Gross Rent Multiplier | 8.28 |
| No. Units | 23 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.52 AC |
| Building Size | 20,757 SF |
| Average Occupancy | 100% |
| No. Stories | 3 |
| Year Built | 1963 |
| Parking Ratio | 1.46/1,000 SF |
AMENITIES
UNIT AMENITIES
- Heating
- Kitchen
- Refrigerator
- Oven
- Range
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 11 | $1,073 | 650 |
| 2+1 | 12 | $1,213 | 850 - 900 |
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PROPERTY TAXES
| Parcel Number | 08-28-22-31-0139 | Total Assessment | $2,001,100 |
| Land Assessment | $460,000 | Annual Taxes | $43,226 ($2.08/SF) |
| Improvements Assessment | $1,541,100 | Tax Year | 2025 Payable 2025 |
PROPERTY TAXES
Parcel Number
08-28-22-31-0139
Land Assessment
$460,000
Improvements Assessment
$1,541,100
Total Assessment
$2,001,100
Annual Taxes
$43,226 ($2.08/SF)
Tax Year
2025 Payable 2025
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729 Oakdale Ave
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