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89 Atwater St - Phase 1 5,005 SF Specialty Building Offered at $880,000 in Saint Paul, MN 55117
Executive Summary
Phase 1 consisting of three duplex style properties within a larger 17-property / 35-unit residential portfolio. Properties are located at 49 Manitoba Ave, 89Atwater St W and 1003 N Woodbridge St.
All properties participate in the NSP program with affordability covenants in place through August 2028, providing stable, AMI-based income at 50% AMI with a clear path to increased rents at 60% AMI upon program maturity. The portfolio is comprised primarily of duplex-style assets with larger unit configurations, strong occupancy history, and consistent cash flow. Operational advantages include reduced property taxes through 4D classification and exemption from Saint Paul rent stabilization enforcement. Ideal for investors seeking predictable income, operational stability, and long-term upside through structured rent growth & scalable acquisition opportunities.
All properties participate in the NSP program with affordability covenants in place through August 2028, providing stable, AMI-based income at 50% AMI with a clear path to increased rents at 60% AMI upon program maturity. The portfolio is comprised primarily of duplex-style assets with larger unit configurations, strong occupancy history, and consistent cash flow. Operational advantages include reduced property taxes through 4D classification and exemption from Saint Paul rent stabilization enforcement. Ideal for investors seeking predictable income, operational stability, and long-term upside through structured rent growth & scalable acquisition opportunities.
Property Facts
| Price | $880,000 | Building Class | C |
| Price Per SF | $175.82 | Lot Size | 0.11 AC |
| Sale Type | Investment | Building Size | 5,005 SF |
| Sale Condition | Bulk/Portfolio Sale | No. Stories | 2 |
| Property Type | Specialty | Year Built | 1900 |
| Property Subtype | Residential Income |
| Price | $880,000 |
| Price Per SF | $175.82 |
| Sale Type | Investment |
| Sale Condition | Bulk/Portfolio Sale |
| Property Type | Specialty |
| Property Subtype | Residential Income |
| Building Class | C |
| Lot Size | 0.11 AC |
| Building Size | 5,005 SF |
| No. Stories | 2 |
| Year Built | 1900 |
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Moderately walkable
70/100
Very drivable
80/100
Some public transit
50/100
Moderately bikeable
70/100
Property Taxes
| Parcel Number | 30-29-22-32-0226 | Improvements Assessment | $249,900 |
| Land Assessment | $25,000 | Total Assessment | $274,900 |
Property Taxes
Parcel Number
30-29-22-32-0226
Land Assessment
$25,000
Improvements Assessment
$249,900
Total Assessment
$274,900
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89 Atwater St - Phase 1