1230 7th W St, Saint Paul, MN 55102-4143

This exceptional investment opportunity presents a turnkey four-unit apartment building located at 1230 7th St W, Saint Paul, MN 55102. The property, built in 1964 and renovated in 2000, boasts 3,328 square feet on a 0.094-acre lot and features four apartments: three two-bedroom units and one one-bedroom unit. Currently operating at 100% occupancy, the property generates a strong net operating income (NOI) of $39,176, resulting in a 6.22% cap rate. Recent upgrades include a newer roof and vinyl slider windows (approximately 15 years old), a fully remodeled kitchen in one unit with new cabinets, quartz countertops, and stainless steel appliances, and updated bathroom shower/tub surrounds in all four units (2022). Both water heaters were replaced in 2020. The building also includes an income-generating on-site coin laundry. The exterior features an attractive Chicago brick façade and a secured entrance. Its convenient location on a bus route provides easy access to downtown Saint Paul and Minneapolis, the Mall of America, numerous shopping options, and the Minneapolis International Airport. The property offers significant potential for value-add improvements and the possibility of owner-occupancy. This is a rare opportunity to acquire a well-maintained, high-performing multifamily property in a desirable location. The asking price is $629,900, with a price per unit of $157,475 and a price per square foot of $189.27. Four parking spaces are available on-site. The property is zoned for multi-family use.