6 Beds
4 Baths
3,600 SqFt
6 Beds
4 Baths
3,600 SqFt
Key Details
Property Type Multi-Family
Sub Type Fourplex
Listing Status Active
Purchase Type For Sale
Square Footage 3,600 sqft
Price per Sqft $131
Subdivision Paul Martins 1St Addition, To
MLS Listing ID 6823925
Bedrooms 6
Year Built 1893
Annual Tax Amount $1,703
Tax Year 2026
Contingent None
Lot Size 4,878 Sqft
Acres 4878.72
Lot Dimensions 41x120
Property Sub-Type Fourplex
Property Description
Two 2BR/1BA and two 1BR/1BA units, 2,950 SF total. All four tenants on signed leases (mid-2026 through mid-2027) with rents raised during the most recent lease-up cycle. Current rents still sit below market ceiling, leaving room on renewals. Tenants pay gas and electric; landlord covers water/sewer and trash.
Enrolled in St. Paul's 4d Affordable Housing Incentive Program, featuring up to 80% reduction in property tax class rates. The covenant transfers with the property, with estimated annual savings of $4,600+ over standard rates.
Two units turned over in mid-2025 and were re-leased at meaningfully higher rents. The recent turnover cycle is complete; all four units are performing well with no deferred maintenance carried over.
Priced under $500k with a low tax basis, strong occupancy, and cash flow in place. This is a rare combination to find in St. Paul's current market.
Location
State MN
County Ramsey
Zoning Residential-Multi-Family
Rooms
Basement Storage Space
Interior
Heating Baseboard
Fireplace No
Laundry Other
Exterior
Parking Features Parking Lot
Roof Type Age Over 8 Years,Asphalt
Building
Story Two
Foundation 1800
Sewer City Sewer/Connected
Water City Water/Connected
Level or Stories Two
New Construction false
Schools
School District St. Paul
Schools and Properties Nearby
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