Quadplex with Parking
For Sale
$449,900
Pending
1153 Central Avenue W, Saint Paul, MN 55104
MULTI_FAMILY - Saint Paul, MN
Property Size2,176 SF
Lot Size0.11 Acres
Days on Market275
Property Features for 1153 Central Avenue W
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning description
Residential-Multi-Family
Bedrooms
4
Bathrooms
4
Full bathrooms
4
Rooms
Bathroom 4, Basement, Bedroom 3, Bathroom 3, Bedroom 1, Bedroom 4, Bathroom 2, Bedroom 2, Bathroom 1
Parking features
Assigned, Parking Lot, Driveway
Exterior features
Stucco
Subdivision
F W Hoyts Rearrangement, Of L
Lot features
Public Transit (w/in 6 blks), Tree Coverage - Medium
High school district
St. Paul
Directions
94 to Lexington, North to Central, West (off) to property on right.
Standard status
Pending
APN
342923410021
Size
2,176 SF
Lot size
0.11 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
7600
Utilities
Heating system
Oil, Other (Heating)
Building Details
Year built
1926
Roof type
Rubber, Flat
Listing Agency:
RE/MAX Results · RE/MAX International
(952) 848-2400
Listed By:
Ryan Fischer
(952) 829-2900
Added: Nov 7, 2025
Changed: Aug 1
Last Checked: Aug 9 at 11:06PM
MLS# 6815182
Copyright © 2026 Northstar MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This well-maintained quadplex features four one-bedroom, one-bath units. The layout includes two units on the main level and two units on the upper level. All units are currently vacant and freshly updated, giving the opportunity to select tenants and set new market rents.
The building has been thoughtfully maintained with newer windows, oil heat via an on-demand boiler, and a roof that is approximately 11 years old. An unfinished basement provides additional storage space and potential future value-add. The exterior is stucco, and the roof is described as rubber and flat.
Outside, a large parking lot accommodates 4–8 vehicles, with driveway and assigned parking features. Built in 1926, the property sits on a 0.11-acre lot with 2,176 square feet. It is positioned in a walkable St. Paul neighborhood close to restaurants, coffee shops, and convenient transit, with walking distance to Concordia University, St. Paul, local parks, and neighborhood amenities.
The building has been thoughtfully maintained with newer windows, oil heat via an on-demand boiler, and a roof that is approximately 11 years old. An unfinished basement provides additional storage space and potential future value-add. The exterior is stucco, and the roof is described as rubber and flat.
Outside, a large parking lot accommodates 4–8 vehicles, with driveway and assigned parking features. Built in 1926, the property sits on a 0.11-acre lot with 2,176 square feet. It is positioned in a walkable St. Paul neighborhood close to restaurants, coffee shops, and convenient transit, with walking distance to Concordia University, St. Paul, local parks, and neighborhood amenities.
Key Highlights
- Four one‑bedroom, one‑bath units; two on the main level and two on the upper level
- All four units are currently vacant and freshly updated
- On‑demand boiler heating with oil heat; newer windows
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$31,793
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
7.07%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$635,860
$635.9K
Cap Rate 7%
$454,186
$454.2K
Cap Rate 9%
$353,256
$353.3K
Market Conditions
NOI Build-Up for 2,176 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$48.3K $22.20/SF
− Vacancy
−$2.9K −$1.33/SF
EGI
$45.4K $20.87/SF
− OpEx
−$13.6K −$6.26/SF
NOI
$31.8K $14.61/SF
Area
Dakota County, MN
Vacancy
5.98%
Lease Rate
$22.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$635,860
Cap Rate 7%
$454,186
Cap Rate 9%
$353,256
Alternative Uses
Best Use
Multifamily LT 5
$454.2K
$397.4K – $529.9K
NOI $31,793 @ 7.0% cap · market cap 7.07%
Second Best
Apartment 5plus
$417.2K
$365.0K – $486.7K
NOI $29,201 @ 7.0% cap · market cap 6.49%
Theoretical Best
Healthcare Medical
$535.5K
$468.6K – $624.7K
NOI $37,484 @ 7.0% cap · market cap 8.33%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,315
Businesses Nearby
Explore this area
Business Placement
Demographics for 55104, MN
45,612
Population
20,358
Households
2.2
Avg Household Size
33
Median Age
52%
College-Educated
93%
High-School Grad
6.0 sq mi
ZIP Area
7,602
Density / Sq Mi
$75,038
Median Household Income
$42,770
Median Earnings
$1,159
Median Rent
$290,900
Median Home Value
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Quadplex - Well-maintained fourplex with four updated one-bedroom units, oil heat with an on-demand boiler, and parking for 4–8 vehicles.
Where is this quadplex located?
The property is located at 1153 Central Avenue W Saint Paul, MN.
What is the asking price?
The asking price for this property is $449,900.
What are key features of this property?
This property features: Four one‑bedroom, one‑bath units; two on the main level and two on the upper level; All four units are currently vacant and freshly updated; On‑demand boiler heating with oil heat; newer windows
