149 Morton St E - Apartments FOR SALE


Saint Paul, MN 55107- Riverview
$1,295,000 USD
149 Morton St E, Saint Paul, MN for Sale
$1,295,000 USD
Apartments - FOR SALE
1/40
null | 7.35% Cap Rate

149 Morton St E
Saint Paul, MN 55107
Riverview


HIGHLIGHTS

  • Newer Roof
  • Newer Windows
  • Off Street Parking for Tenants
  • On-Site Laundry
  • Maintenance Free Stucco Exterior

OVERVIEW

Morton Street Apartments is a very attractive and well maintained 12-unit apartment building located within walking distance to both the Belvidere and Bluff Parks in Saint Paul, Minnesota. This property offers an exceptional opportunity to acquire a solid, fully-occupied investment in a desirable neighborhood of St. Paul. With a strong history of occupancy, consistent operations, and a focus on long-term maintenance, Morton Apartments is super clean and provides immediate cash flow. The main and upper floor units feature refinished original hardwood flooring. The property includes on-site coin-operated laundry, updated vinyl replacement windows and a 10-car off-street parking lot. Unit mix is ten one-bedroom, one bath and one Studio, one bath. The average 1-bd rent is $1,060 and average studio is $890. Built in 1963 and perfectly situated on a 0.39 acre corner lot. This makes for a great 1031 option coming out of a smaller rental property. Close to the Minneapolis International Airport, plenty of employment and downtown Saint Paul.

FOR SALE DETAILS

PRICE

$1,295,000 USD

PRICE/SF

$180 USD /SF

# OF UNITS

12

PRICE/UNIT

$107,917

CAP RATE

7.35%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Riviera Apartments

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1963

PARKING SPACES

12

LAND DETAILS

LAND ACRES

0.39 AC

LAND SF

17,019 SF

ZONING

Apartments

APN/PARCEL ID

08-28-22-31-0101

ASK ABOUT THIS PROPERTY

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