4-Unit Quadplex with Garage
197 Kent Street, Saint Paul, MN 55102
For Sale
$925,000
Individually metered apartments have assigned garage parking and separately paid gas and electric service.
Property Size4,748 SF
Price / SF$194.82
Days on Market178
Property Features for 197 Kent Street
General Information
Standard status
Size
Total Parking Spaces
Property subtype
Lease Term
Units
Multifamily Units
Individually Metered Utilities
Additional Details
Tenant in Place
Building Details
Year Built
Buildings
Listing Agency:
Compass
Listed By:
Stephanie Chandler Group
(203) 788-4287
Source:
C21atwood
Added: May 14
Changed: Nov 7
Last Checked: Nov 7 at 12:58PM
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 Compass
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Investment Insights
Based on property information with market context.
This 4-unit quadplex contains 4,748 square feet and dates to 1889. Improvements include updated kitchens and bathrooms, HVAC and AC units serving each apartment, decks installed in 2023, and a replaced roof. Each unit has an assigned garage stall and separate utility metering; tenants pay their own gas and electric. The property is occupied by long-term tenants and has a condominium structure.
The building is in Cathedral Hill, near Grand Avenue’s dining and shopping and Summit Avenue. Its four apartments, per-unit systems, and assigned garage stalls provide a straightforward configuration for multifamily ownership.
The building is in Cathedral Hill, near Grand Avenue’s dining and shopping and Summit Avenue. Its four apartments, per-unit systems, and assigned garage stalls provide a straightforward configuration for multifamily ownership.
Key Highlights
- Four apartments in a 4,748‑square‑foot building constructed in 1889
- One assigned garage stall for each unit
- Individual utility meters; tenants pay gas and electric
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$69,372
Cap Rate
7.50%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,387,440
$1.4M
Cap Rate 7%
$991,029
$991.0K
Cap Rate 9%
$770,800
$770.8K
Market Conditions
NOI Build-Up for 4,748 SF
Gross rent
$105.4K $22.20/SF
− Vacancy
−$6.3K −$1.33/SF
EGI
$99.1K $20.87/SF
− OpEx
−$29.7K −$6.26/SF
NOI
$69.4K $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%
$1,387,440
Cap Rate 7%
$991,029
Cap Rate 9%
$770,800
Alternative Uses
Best Use
Multifamily LT 5
$991.0K
$867.2K – $1.16M
NOI $69,372 @ 7.0% cap · market cap 7.50%
Second Best
Apartment 5plus
$910.2K
$796.5K – $1.06M
NOI $63,717 @ 7.0% cap · market cap 6.89%
Theoretical Best
Office A
$1.13M
$991.2K – $1.32M
NOI $79,294 @ 7.0% cap · market cap 8.57%
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
1,330
Businesses Nearby
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Business Placement
Demographics for 55102, MN
20,355
Population
11,582
Households
1.8
Avg Household Size
39
Median Age
55%
College-Educated
96%
High-School Grad
3.3 sq mi
ZIP Area
6,168
Density / Sq Mi
$74,143
Median Household Income
$54,042
Median Earnings
$1,295
Median Rent
$280,400
Median Home Value
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Market
Average Price Trend$/SF for Quadplexes in Saint Paul, MN
Properties on Market for Quadplexes in Saint Paul
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Quadplex - Individually metered apartments have assigned garage parking and separately paid gas and electric service.
Where is this quadplex located?
The property is located at 197 Kent Street Saint Paul, MN.
What is the asking price?
The asking price for this property is $925,000.
What are key features of this property?
This property features: Four apartments in a 4,748‑square‑foot building constructed in 1889; One assigned garage stall for each unit; Individual utility meters; tenants pay gas and electric
