1621 St Anthony Ave Saint Paul, MN 55104
- Dormitories
- 10,200 SF
- 0.21 lot acres
Current Use by Public Records
- Dormitories
Property Details for 1621 St Anthony Ave
- Year built
- 1960
- Lot size
- 0.21 lot acres
- Property size
- 10,200 SF
- Property type
- Dormitories
- Property subtype
- Student housing
Description
This exceptional 11-unit apartment building, located at 1621 St Anthony Ave in Saint Paul, Minnesota, presents a compelling value-add investment opportunity. The property boasts a prime location, just one block from Allianz Field soccer stadium, and features eleven two-bedroom, one-bathroom units, each approximately 750+ square feet. Built in 1960 and renovated in 2000, the three-story, all-brick building is in excellent condition with a newer roof (approximately 11-12 years old) and newer windows. The 10,200 square foot building sits on a 0.21-acre lot and offers residents ample off-street parking, secured entry, lower-level storage lockers, and coin-operated laundry facilities. Currently operating at 100% occupancy, the property generates a substantial net operating income (NOI) of $75,738, representing a 6.31% cap rate. The asking price is $1,199,900, or $109,081.82 per unit, and $117.64 per square foot. The property is zoned for multi-family use and offers significant potential for rental increases, making it an attractive investment for discerning buyers. The property's strong performance, desirable location, and value-add potential make it a rare find in the competitive Saint Paul market. The building is professionally managed. The APN is 33-29-23-41-0059.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Saint Paul
- County
- Ramsey
- State
- Minnesota
- Longitude
- -93.1689
- Latitude
- 44.9522
