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Ive Park Apartments 982 Ivy Ave 18 Unit Apartment Building $1,549,500 ($86,083/Unit) 7.27% Cap Rate Saint Paul, MN 55106
Investment Highlights
- 18-unit multifamily with balanced mix of studios, one-bedrooms, and two-bedrooms.
- Smaller-format unit concentration aligns with renter demand and supports leasing flexibility.
- Underwriting reflects documented income growth from current to stabilized performance.
- In-place rents below market levels, creating a clear path to grow income over time.
- Off-street parking provides added convenience and enhances the overall tenant offering.
- Quiet East Side Saint Paul neighborhood with convenient access to I-94, I-35E, and Downtown.
Executive Summary
Broker of Record
Kurt Sauer
License # 40628602, 41005445 (MN)
Matthews of Minnesota, LLC
701 Xenia Ave S, Ste 485 Minneapolis MN 55416
(866) 889-0550
Kurt Sauer
License # 40628602, 41005445 (MN)
Matthews of Minnesota, LLC
701 Xenia Ave S, Ste 485 Minneapolis MN 55416
(866) 889-0550
Property Facts
| Price | $1,549,500 | Building Class | C |
| Price Per Unit | $86,083 | Lot Size | 0.43 AC |
| Sale Type | Investment | Building Size | 17,520 SF |
| Cap Rate | 7.27% | No. Stories | 2 |
| No. Units | 18 | Year Built/Renovated | 1921/1975 |
| Property Type | Multifamily | Parking Ratio | 0.51/1,000 SF |
| Property Subtype | Apartment | ||
| Zoning | C | ||
| Price | $1,549,500 |
| Price Per Unit | $86,083 |
| Sale Type | Investment |
| Cap Rate | 7.27% |
| No. Units | 18 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Building Class | C |
| Lot Size | 0.43 AC |
| Building Size | 17,520 SF |
| No. Stories | 2 |
| Year Built/Renovated | 1921/1975 |
| Parking Ratio | 0.51/1,000 SF |
| Zoning | C |
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Fairly walkable
50/100
Very drivable
80/100
Limited public transit
30/100
Exceptionally bikeable
90/100
Property Taxes
| Parcel Number | 21-29-22-34-0014 | Improvements Assessment | $1,049,700 |
| Land Assessment | $360,000 | Total Assessment | $1,409,700 |
Property Taxes
Parcel Number
21-29-22-34-0014
Land Assessment
$360,000
Improvements Assessment
$1,049,700
Total Assessment
$1,409,700
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