616 Ivy Ave E - Apartments FOR SALE


Saint Paul, MN 55130- Payne-Phalen
$649,900 USD
651-497-1666
616 Ivy Ave E, Saint Paul, MN for Sale
$649,900 USD
Apartments - FOR SALE
1/12
null | Request Cap Rate

616 Ivy Ave E
Saint Paul, MN 55130
Payne-Phalen


OVERVIEW

Seven-unit apartment building in Saint Paul's Payne-Phalen neighborhood, built 1959, approximately 4,800 SF on an RM2 lot. All units are 1BR/1BA. Two units have been renovated by current ownership. Rear off-street parking pad installed, shared coin laundry, basement storage and an exterior shed. Seller has installed a new 200 amp electrical panel as of April 2025 in the laundry room for the entire building and all work was permitted. Very clean building with room to increase rents to market. Unit #1 has an approved Section 8 tenant moving in 10/31/26, and the remaining units could also pursue Section 8 approval if the next owner chooses that route. Unit 3 is vacant and being marketed at $1,150 to both section-8 and non-section-8 renters.

FOR SALE DETAILS

PRICE

$649,900 USD

PRICE/SF

$98 USD /SF

# OF UNITS

7

PRICE/UNIT

$92,843

CAP RATE

Request Cap Rate

% LEASED

85%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1959

PARKING SPACES

7

LAND DETAILS

LAND ACRES

0.17 AC

LAND SF

7,405 SF

ZONING

Multi-Family Residential

APN/PARCEL ID

20-29-22-43-0022

ASK ABOUT THIS PROPERTY

Lars AndersonRE/MAX Results Eden PrairieMore Info
651-497-1666

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Lars AndersonRE/MAX Results Eden PrairieMore Info
651-497-1666

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