487 Grand Ave - Apartments FOR SALE


Saint Paul, MN 55102- Summit Hill
$2,000,000 USD
612-296-5483
487 Grand Ave, Saint Paul, MN for Sale
$2,000,000 USD
Apartments - FOR SALE
1/133
null | Request Cap Rate

487 Grand Ave
Saint Paul, MN 55102
Summit Hill


OVERVIEW

Welcome to an exceptional investment opportunity in the heart of St. Paul! This charming three-story, 19-unit apartment building is perfectly situated on historic Grand Ave, elegantly perched on a hill that offers breathtaking river views.This well-maintained building features original hardwood floors throughout, showcasing the timeless craftsmanship and architectural character that defines this beautiful property. The spacious units comprise 12 studio apartments and 7 one-bedroom apartments, each benefitting from great natural light and stunning vistas through large windows.Key features include: Vacant building ready for new ownership Recent upgrades, including a newer boiler and roof, ensuring efficiency and reliability Clean and well-kept interiors, inviting a variety of potential uses Great layout with large unit sizes, allowing for versatile living arrangements Historically, the property served as a supportive housing medical facility, creating an ideal opportunity for the new owner to continue in that capacity or transition to market-rate apartments, sober housing, supportive housing, or other beneficial uses.Don’t miss the chance to acquire this fantastic investment on Grand Ave, where charm meets modern updates, all while being surrounded by scenic views and the vibrant community of St. Paul.

FOR SALE DETAILS

PRICE

$2,000,000 USD

PRICE/SF

$159 USD /SF

# OF UNITS

18

PRICE/UNIT

$111,111

CAP RATE

Request Cap Rate

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1928

PARKING SPACES

3

LAND DETAILS

LAND ACRES

0.1 AC

LAND SF

4,356 SF

ZONING

C

APN/PARCEL ID

01-28-23-31-0107

ASK ABOUT THIS PROPERTY

Mike MitchellMitchell RealtyMore Info
612-296-5483

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Mike MitchellMitchell RealtyMore Info
612-296-5483

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.