1922 Wilson Ave Saint Paul, MN 55119

Property Details for 1922 Wilson Ave

Year built

2021

Lot size

0.73 lot acres

Property size

18,494 SF

Property type

Commercial real estate

APN

35-29-22-31-0037

Description

This exceptional 12-unit apartment building, located at 1922 Wilson Ave in Saint Paul, Minnesota, presents a compelling investment opportunity. Built in 2021 and fully renovated the same year, this Class B property boasts 18,494 square feet on a 0.73-acre lot. The building features three stories and offers 12 spacious three-bedroom, two-bathroom units, each approximately 1,541 square feet. Units include modern amenities such as stainless steel appliances, quartz countertops, ample closet space, and self-controlled high-efficiency HVAC systems. Residents enjoy a secure living environment with controlled access entry and security cameras in common areas. The property includes 16 off-street parking spaces and laundry facilities on the second and third floors equipped with 12 coin-operated Speed Queen machines. Currently operating at 100% occupancy, the property generates a substantial net operating income (NOI) of $195,134, resulting in a 6.5% capitalization rate. Its prime location in Saint Paul offers easy access to Highways 94 and 494, along with proximity to downtown Saint Paul and the suburbs of Oakdale, Woodbury, and Maplewood. Nearby amenities include shopping, schools, playgrounds, entertainment venues, and the Conway Recreation Center. The property is zoned for multi-family use and is offered at an asking price of $3,000,000, or $250,000 per unit, and $162.21 per square foot. This turnkey asset is ideally suited for a 1031 exchange. The property is bank-owned foreclosure with 100% ownership. The APN is 35-29-22-31-0037.

Location Insight

City

Saint Paul

County

Ramsey

State

Minnesota

Longitude

-93.019382854642

Latitude

44.954074483976