503 Ohio St - Apartments FOR SALE


Saint Paul, MN 55107- Riverview
$1,695,000 USD
651-263-3653
503 Ohio St, Saint Paul, MN for Sale
$1,695,000 USD
Apartments - FOR SALE
1/25
null | 7.38% Cap Rate

503 Ohio St
Saint Paul, MN 55107
Riverview


HIGHLIGHTS

  • NEWER WINDOWS
  • NEWER PARKING LOT
  • REMODELED KITCHENS AND BATHROOMS
  • NEW COIN LAUNDRY
  • 100% FULLY OCCUPIED

OVERVIEW

Ohio Apartments offers a new owner a turn-key investment opportunity with 15 well appointed units plus 8 garages. The unit mix consists of 8 two-bedroom, 1 bath and 7 one-bedroom, 1 bath apartments spread out over three full stories. Charming curb appeal with full brick exterior in great condition, newer windows, newer gutters and roof facia, and a decorative black front entrance awning. Resting on almost a half acre and nicely landscaped with a newer asphalt parking lot and an attractive retaining wall. All but one of the apartments has been renovated with luxury vinyl plank flooring, new kitchen cabinets and hardware, new quartz countertops, stainless steel energy efficient appliance package including dishwashers, carpet in bedrooms, and ceiling fans. The building has received newer vinyl replacement windows throughout and the common spaces were recently carpeted and freshly painted. The laundry room has been remodeled and offers tenants coin-operated speed queen washers and dryers with credit card readers. This asset is definately in above average condition and would make the perfect 1031 tax exchange purchase. Very low historical vacancy and easy to rent being close to downtown Saint Paul, MN, West St.Paul and Mendota Heights, MN.

FOR SALE DETAILS

PRICE

$1,695,000 USD

PRICE/SF

$171 USD /SF

# OF UNITS

15

PRICE/UNIT

$113,000

CAP RATE

7.38%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Cherokee Bluffs

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1968

PARKING SPACES

23

LAND DETAILS

LAND ACRES

0.41 AC

LAND SF

17,860 SF

ZONING

Multi-Family

APN/PARCEL ID

07-28-22-21-0034

ASK ABOUT THIS PROPERTY

Nathan OpatzApartment Cash Flow, IncMore Info
651-263-3653

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Nathan OpatzApartment Cash Flow, IncMore Info
651-263-3653

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