St. Paul Fourplex with Tax
For Sale
Contact for pricing
485 Belvidere St E, Saint Paul, MN 55107
Fully leased fourplex with significant tax benefits in St. Paul.
Property Size3,600 SF
Price / SF$118.06
Days on Market143
Property Features for 485 Belvidere St E
General Information
Standard status
Active
Size
3,600 SF
Class
C
Total Parking Spaces
4
Property subtype
Multifamily
Occupancy
75%
Investment Type
Value Add
Net Operating Income
$33,371
Building Details
Year Built
1893
Year Renovated
1893
Buildings
1
Stories
2
Units
4
Listing Agency:
MRG Realty Partners
(619) 756-5718
Listed By:
Nate Schammel · License #40691605
Source:
Crexi
Added: Mar 22
Changed: Aug 8
Last Checked: Aug 11 at 5:45PM
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 MRG Realty Partners
Investment Insights
Based on property information with market context.
This fully leased fourplex is located on St. Paul's West Side, south of the river, providing convenient access to downtown, the West Side Flats, and District del Sol. Situated on a quiet residential block, the property benefits from strong renter demand in the surrounding neighborhood and proximity to parks, local restaurants, and transit options. The building comprises two 2-bedroom, 1-bathroom units and two 1-bedroom, 1-bathroom units within its 2,950 square feet. All four tenants are on signed leases extending from mid-2026 to mid-2027, with rents increased during the most recent lease-up cycle. The property maintains 100% occupancy, with potential for further market rent increases upon renewals. Tenants are responsible for their own gas and electricity, while the owner covers water/sewer, trash, and recycling. The property is enrolled in the City of St. Paul's 4d Affordable Housing Incentive Program, offering up to an 80% reduction in property tax class rates on enrolled units. This covenant transfers with the property upon sale, providing the buyer with an estimated $4,600+ in annual tax savings compared to standard rates. Two units were turned over in mid-2025 and leased at significantly higher rents. This property offers a stabilized rent roll with all four units performing, no deferred maintenance from the recent turn cycle, and a clear path to cash flow.
Key Highlights
- Significant property tax savings through City of St. Paul's 4d Affordable Housing Incentive Program (estimated $4,600+ annual savings), transferable to the new owner.
- Fully leased through mid‑2026 to mid‑2027 with 100% occupancy and increased rents**, providing immediate cash flow.
- Located on St. Paul's West Side, offering easy access to downtown, West Side Flats, and District del Sol in a quiet residential area.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
425
Businesses Nearby
Explore this area
Business Placement
Demographics for 55107, MN
15,383
Population
6,063
Households
2.5
Avg Household Size
34
Median Age
31%
College-Educated
89%
High-School Grad
4.1 sq mi
ZIP Area
3,752
Density / Sq Mi
$78,125
Median Household Income
$46,197
Median Earnings
$1,335
Median Rent
$259,900
Median Home Value
Market
Vacancy Rate% for Multifamily in Midwest region
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Frequently Asked Questions
What type of property is this?
Quadplex - Fully leased fourplex with significant tax benefits in St. Paul.
Where is this quadplex located?
The property is located at 485 Belvidere St E Saint Paul, MN.
What is the asking price?
The asking price for this property is $425,000.
What are key features of this property?
This property features: Significant property tax savings through City of St. Paul's 4d Affordable Housing Incentive Program (estimated $4,600+ annual savings), transferable to the new owner.; Fully leased through mid‑2026 to mid‑2027 with 100% occupancy and increased rents**, providing immediate cash flow.; Located on St. Paul's West Side, offering easy access to downtown, West Side Flats, and District del Sol in a quiet residential area.
