Triplex with Detached
New
For Sale
$449,900
1049 Gorman Avenue, West Saint Paul, MN 55118
Residential Income, West Saint Paul, MN
Property Size2,846 SF
Lot Size0.16 Acres
Price / SF$158.08
Days on Market2
Property Features for 1049 Gorman Avenue
General Information
Property type
Residential Multi Family
Property subtype
Triplex
Bedrooms
6
Bathrooms
3
Full bathrooms
3
Rooms
Bathroom 3, Bedroom 3, Bathroom 1, Bedroom 4, Basement, Bedroom 5, Bathroom 2, Bedroom 6, Bedroom 2, Bedroom 1
Parking features
Garage - Detached
Subdivision
Michel B Add
High school district
West St. Paul-Mendota Hts.-Eagan
Directions
South Robert Street. Right on Bernard Street East. Left on Gorman Avenue.
Standard status
Active
APN
424810011110
Size
2,846 SF
Lot size
0.16 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
5518
Utilities
Heating system
Forced Air
Amenities
central air
laundry
Building Details
Year built
1941
Listing Agency:
Ashworth Real Estate
(612) 594-5542
Listed By:
Joann White
(651) 214-7258
Added: Oct 7
Last Checked: Oct 8 at 2:06AM
MLS# 7156355
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 2,846-square-foot triplex contains three apartments with a combined six bedrooms and three bathrooms. The lower-level unit has one bedroom; the main-floor apartment has two bedrooms, a dining room, two living areas, private laundry, and central air; and the upper unit has three bedrooms and attic storage. Laundry is shared between the upper and lower apartments. Completed renovations, vinyl siding, forced-air heat, and a detached garage are additional property features.
The 0.16-acre property was built in 1941 and sits directly across from a park in West Saint Paul, Minnesota. The three-unit configuration and distinct apartment layouts are complemented by the detached garage.
The 0.16-acre property was built in 1941 and sits directly across from a park in West Saint Paul, Minnesota. The three-unit configuration and distinct apartment layouts are complemented by the detached garage.
Key Highlights
- Three apartments with a combined six bedrooms and three bathrooms
- Unit mix: one‑bedroom lower unit, two‑bedroom main‑floor unit, and three‑bedroom upper unit
- 2,846 square feet on a 0.16‑acre lot
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$38,193
Cap Rate
8.49%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$763,860
$763.9K
Cap Rate 7%
$545,614
$545.6K
Cap Rate 9%
$424,367
$424.4K
Market Conditions
NOI Build-Up for 2,846 SF
Gross rent
$74.1K $26.04/SF
− Vacancy
−$4.7K −$1.64/SF
EGI
$69.4K $24.40/SF
− OpEx
−$31.2K −$10.98/SF
NOI
$38.2K $13.42/SF
Area
Dakota County, MN
Vacancy
6.30%
Lease Rate
$26.04 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$763,860
Cap Rate 7%
$545,614
Cap Rate 9%
$424,367
Alternative Uses
Best Use
Multifamily LT 5
$594.0K
$519.8K – $693.0K
NOI $41,582 @ 7.0% cap · market cap 9.24%
Second Best
Apartment 5plus
$545.6K
$477.4K – $636.6K
NOI $38,193 @ 7.0% cap · market cap 8.49%
Theoretical Best
Healthcare Medical
$700.4K
$612.8K – $817.1K
NOI $49,025 @ 7.0% cap · market cap 10.90%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
477
Businesses Nearby
Explore this area
Business Placement
Demographics for 55118, MN
29,106
Population
13,751
Households
2.1
Avg Household Size
43
Median Age
46%
College-Educated
94%
High-School Grad
10.5 sq mi
ZIP Area
2,772
Density / Sq Mi
$85,229
Median Household Income
$53,917
Median Earnings
$1,215
Median Rent
$331,800
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
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Frequently Asked Questions
What type of property is this?
Triplex - Three distinct apartments offer a range of bedroom layouts, with laundry arrangements varying by unit.
Where is this triplex located?
The property is located at 1049 Gorman Avenue West 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: Three apartments with a combined six bedrooms and three bathrooms; Unit mix: one‑bedroom lower unit, two‑bedroom main‑floor unit, and three‑bedroom upper unit; 2,846 square feet on a 0.16‑acre lot
