Fully Occupied 7-Unit
For Sale
Contact for pricing
940 3rd Street East, Saint Paul, MN 55106
Fully occupied 7-unit property with a mix of studios and one- and two-bedroom units.
Property SizeContact for details
Days on Market118
Property Features for 940 3rd Street East
General Information
Standard status
Active
Class
C
Total Parking Spaces
10
Property subtype
Multifamily
Zoning
H2 Residential
Occupancy
100%
Investment Type
Value Add
Additional Details
Cap Rate
8.91%
Multifamily Units
7
Building Details
Year Built
1897
Year Renovated
1995
Buildings
1
Stories
2
Units
7
Tenancy
Multi
Listing Agency:
MRG Realty Partners
(651) 428-7814
Listed By:
Nate Schammel · License #40691605
Source:
Crexi
Added: Apr 27
Changed: Aug 21
Last Checked: Aug 22 at 7:01AM
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.
940 3rd St E is a fully occupied 7-unit multifamily property featuring a mix of 2-bedroom, 1-bedroom, and studio units. Recent improvements include a new hot water heater (2025), unit updates throughout, dry wall repairs in stairwells, and a complete basement workshop area cleanout.
The property is enrolled in the 4D tax program, which reduces property taxes by up to 80%. More information and private viewing arrangements are available by calling Luke at 651-428-7814.
The property is enrolled in the 4D tax program, which reduces property taxes by up to 80%. More information and private viewing arrangements are available by calling Luke at 651-428-7814.
Key Highlights
- Fully occupied 7‑unit multifamily in St. Paul, MN, built in 1897
- Unit mix includes studios, 1‑bedroom, and 2‑bedroom units
- Pro forma NOI of $46,767 with a pro forma cap rate of 8.91%
Property Analytics
Current Use
Lease Details
7
Residential units
Location Intelligence
Trade Area within ½ mile
445
Businesses Nearby
Explore this area
Business Placement
Demographics for 55106, MN
60,327
Population
19,974
Households
3
Avg Household Size
30
Median Age
23%
College-Educated
82%
High-School Grad
9.4 sq mi
ZIP Area
6,418
Density / Sq Mi
$68,601
Median Household Income
$39,834
Median Earnings
$1,230
Median Rent
$233,000
Median Home Value
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Fully occupied 7-unit property with a mix of studios and one- and two-bedroom units.
Where is this apartment building located?
The property is located at 940 3rd Street East Saint Paul, MN.
What is the asking price?
The asking price for this property is $525,000.
What are key features of this property?
This property features: Fully occupied 7‑unit multifamily in St. Paul, MN, built in 1897; Unit mix includes studios, 1‑bedroom, and 2‑bedroom units; Pro forma NOI of $46,767 with a pro forma cap rate of 8.91%
