Merriam Park Multifamily Investment
1847 Laurel Ave, Saint Paul, MN 55104
Multifamily property in Saint Paul's Merriam Park neighborhood.
Type:Multifamily
Property size:
8,600 SFLot size:
0.21 AcresPrice / SF:
$139/SF- Added:
- Mar 5, 2026
- Days on Market:
- 68
- Last Refresh:
- Mar 16 at 2:57 pm
Property Features for 1847 Laurel Ave
General Information
- Standard status
- Active
- Size
- 8,600 SF
- Lot size
- 0.21 Acres
- Property subtype
- Multifamily
Building Details
- Year Built
- 1914
Listing agent Michael Jacobs License #MN: 40760249 CA: 01979550
Listing office Marcus & Millichap - Minneapolis
Listing date Mar 5, 2026
Source Crexi
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HighLights
- Highly walkable location near the University of Saint Thomas and desirable retail/dining in the Merriam Park neighborhood, ensuring consistent rental demand.
- Participation in the City of Saint Paul’s 4D Affordable Housing Incentive Program, offering property tax benefits with operational flexibility.
- Recent capital improvements include plumbing replacement (PEX), window replacement, insulation upgrades, roof drain replacement, and exterior stucco replacement.
- Mix of studio and one‑bedroom units (17 total) providing diverse rental options.
- Attainable average rents ($731/month) for the submarket.
- On‑site laundry and gas cooking.
Overview
Laurel Avenue Apartments, built in 1914, is a multifamily property in the Merriam Park neighborhood of Saint Paul, Minnesota, featuring 17 residences: 12 studio units and 5 one-bedroom units. The units average approximately 375 square feet. The property is located five blocks from the University of Saint Thomas, near dining and neighborhood retail options. The property sits on a 0.21-acre site. The asset is enrolled in the City of Saint Paul’s 4D Affordable Housing Incentive Program, with four units designated at 60 percent of Area Median Income, with approximately three years remaining in the current 4D term. A future owner may elect to renew the program and continue receiving the associated property tax benefits or allow the designation to expire at the end of the term. Ownership has completed capital improvements, including replacing half of the building's plumbing with PEX, replacing windows, fully insulating walls and crawl spaces, and replacing both of the main roof drains. In 2016, the exterior stucco was completely removed and replaced using traditional application along with new exterior trim and window sill/trim. Two units have been fully gutted and renovated, and the building is serviced by a dual gas-fired boiler system installed in 2008. Additional features include owned on-site laundry, gas cooking, and a pet-free policy.
Property Profile
Insight Report
Location Intelligence
Current Use by Public Records
Apartment buildings
Location Insight
- Map
- Local Demand
- City
- Saint Paul
- County
- Dakota
- State
- Minnesota
- Longitude
- -93.178315
- Latitude
- 44.9453115
Nearby Similar for Sale
FAQs
What type of property is this?
Apartment building - Multifamily property in Saint Paul's Merriam Park neighborhood.
Where is this apartment building located?
The property is located at 1847 Laurel Ave Saint Paul, MN.
What is the asking price?
The asking price for this property is $1,200,000.
What are key features of this property?
This property features: Highly walkable location near the University of Saint Thomas and desirable retail/dining in the Merriam Park neighborhood, ensuring consistent rental demand.; Participation in the City of Saint Paul’s 4D Affordable Housing Incentive Program, offering property tax benefits with operational flexibility.; Recent capital improvements include plumbing replacement (PEX), window replacement, insulation upgrades, roof drain replacement, and exterior stucco replacement.
