Historic Fourplex with Three-Car
For Sale
$1,100,000
1032 Portland Ave, Saint Paul, MN 55104
Four residences offer two-bedroom layouts, period architectural details, porches, and formal dining rooms with built-in buffets.
Property Size6,862 SF
Price / SF$160.30
Days on Market64
Property Features for 1032 Portland Ave
General Information
Standard status
Active
Size
6,862 SF
Total Parking Spaces
3
Property subtype
Residential Income
Units
Unit Mix
4 x 2BR/2BA
Multifamily Units
4
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$18,917
Listing Agency:
RE/MAX Results
(651) 698-8006
Listed By:
Patrick J Donohue · License #RA-668620
(651) 224-4050
Source:
Exprealty
Added: Aug 20
Changed: Oct 2
Last Checked: Oct 20 at 10:11PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of RE/MAX Results
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Investment Insights
Based on property information with market context.
Built in 1909, this fourplex contains four two-bedroom, two-bath residences with substantial interior living areas. Each unit includes a den, large kitchen, formal dining room, and built-in buffets, while original woodwork, stained glass, and hardwood floors retain the building’s historic character. Three-season front porches extend the usable living space, and a three-car garage provides on-site parking and storage.
The property is located on Portland Avenue in Saint Paul’s Summit Avenue neighborhood, near shops, restaurants, and public transportation. Additional space on the upper and lower levels may support expansion of the existing residences or the addition of units, subject to applicable approvals.
The property is located on Portland Avenue in Saint Paul’s Summit Avenue neighborhood, near shops, restaurants, and public transportation. Additional space on the upper and lower levels may support expansion of the existing residences or the addition of units, subject to applicable approvals.
Key Highlights
- Four 2‑bedroom, 2‑bath residences, each with a den, large kitchen, and formal dining room
- Built in 1909 with original woodwork, stained glass windows, and hardwood floors
- Three‑season front porches serve each residence
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$100,259
Cap Rate
9.11%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,005,180
$2.0M
Cap Rate 7%
$1,432,271
$1.4M
Cap Rate 9%
$1,113,989
$1.1M
Market Conditions
NOI Build-Up for 6,862 SF
Gross rent
$152.3K $22.20/SF
− Vacancy
−$9.1K −$1.33/SF
EGI
$143.2K $20.87/SF
− OpEx
−$43.0K −$6.26/SF
NOI
$100.3K $14.61/SF
Area
Ramsey 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 Rate 5%
$2,005,180
Cap Rate 7%
$1,432,271
Cap Rate 9%
$1,113,989
Alternative Uses
Best Use
Multifamily LT 5
$1.43M
$1.25M – $1.67M
NOI $100,259 @ 7.0% cap · market cap 9.11%
Second Best
Apartment 5plus
$1.32M
$1.15M – $1.53M
NOI $92,086 @ 7.0% cap · market cap 8.37%
Theoretical Best
Office A
$1.64M
$1.43M – $1.91M
NOI $114,599 @ 7.0% cap · market cap 10.42%
Zoning and permitted uses should be independently verified with authorities.
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Open Analytics
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
1,204
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Quadplex - Four residences offer two-bedroom layouts, period architectural details, porches, and formal dining rooms with built-in buffets.
Where is this quadplex located?
The property is located at 1032 Portland Ave Saint Paul, MN.
What is the asking price?
The asking price for this property is $1,100,000.
What are key features of this property?
This property features: Four 2‑bedroom, 2‑bath residences, each with a den, large kitchen, and formal dining room; Built in 1909 with original woodwork, stained glass windows, and hardwood floors; Three‑season front porches serve each residence
