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1508 Allen Avenue, Saint Paul, MN 55118

$2,700,000

Property Type: Commercial Lot Size (sq. ft.): 120,661 Status: Closed

Current Price: $2,700,000 List Date: 7/12/2024 Last Modified: 8/07/2025

Overview

Description

Two 12-Unit apartment complexes that sit on 2.7 acres in West St. Paul conveniently located on bus route near main retail corridor. Complex has been professionally managed and maintained with 100% occupancy ready for new owner. Brick front buildings consist of 12 - 2 Bedroom units, 2 - 1 Bedroom with Den units, and 10 - 1 Bedroom units. Each unit is allotted a garage and one parking space in private parking lot. Two (owned) sets of coin operated laundry machines are located in each building with individual storage closet for each unit. Recent updates include: Hallways painted 2024, garage roofs 2023, A/C units 2022, hallway carpeting & trim 2020, and garage doors replaced 2018. Rents all are currently under local averages for this West St. Paul area & lots of room for increased cap performance. Financials and rent rolls available upon request. We encourage your questions and inquiries prior to scheduling showings. More photos coming soon.

Listing Details MLS# 6510083

General Property Information

Lot Measurement: Acres
Management Company Name: Chill Properties LLC
Multiple PIDs?: Yes
Other Parking Spaces: 24
Owner Occupied: No
Year Built: 1978
Yearly/Seasonal: Yearly
Zoning: Residential-Multi-Family
Foundation Size: 12732
Garage Stalls: 24
Management Company Phone: 651-283-9853
Power Company: Xcel Energy
For Sale or Lease: For Sale
Acres: 2.77
Lot Dimensions: 2.77 ACRES
Assessment Pending: Unknown

Property Features

Accessible: None Air Conditioning: Window Unit(s) Amenities Shared: Coin-op Laundry Owned Amenities Unit: Deck; Patio Appliances: Range; Refrigerator Assumable Loan: Not Assumable Basement: None CMU Style: Apartments/Multi Family; Common Wall Construction Status: Previously Owned Current Use: Residential Exterior: Brick/Stone Fencing: None Financing Terms: Conventional Fuel: Electric; Natural Gas Heating: Baseboard Loan Terms: Cash; FHA Location Description: Free Standing Lot Description: Corner Lot; Public Transit (w/in 6 blks); Tree Coverage - Light On Site Utilities: Electric Common; Heating Common; Hot Water Common Overhead Door Clearance: 0-9 Feet Owner Pays: Common Area Maintenance; Electricity; Exterior Maintenance; Grounds Care; Heat; Insurance; Lawn; Lawn; Maintenance/Repair; Repairs; Sewer; Snow Removal; Taxes; Trash Collection; Water Pool Description: None Rental License Type: Standard Road Frontage: City Street Road Responsibility: Public Maintained Road Roof: Age 8 Years or Less; Flat Sewer: City Sewer/Connected Stories: Two Tenant Pays: Broadband; Cable TV; Electricity Topography: Level Wall Description: Drywall Water: City Water/Connected Window Features: Aluminum Frames

Contract Information

Off Market Date: 2024-07-31
Closed Date: 2024-10-15
Sales Close Price: 2700000
Contingency: None
ListPrice: 2999900
Owner is an Agent?: No
Auction?: No

Location Tax and Other Information

House Number: 1508
Street Name: Allen
Street Suffix: Avenue
Postal City: Saint Paul
County: Dakota
State: MN
Zip Code: 55118
Complex/Dev/Subdivision: Coverdale Add

Additional Parcels Information

Property ID #2: 421850001082

Assessments

Assessment Balance: 9500
Tax With Assessments: 38190

More Information

Basement

Foundation Dimensions: 66x94
None: Yes

Building Information

Building Finished SqFt: 30744
Ceiling Height: 8-10

Income and Expenses

Annual Electric Expense: 1600
Annual Gross Expenses: 99440
Annual Gross Income: 287340
Annual Insurance Expense: 1600
Annual Maintenance Expense: 12000
Annual Net Income: 175900
Annual Trash Expense: 450
Annual Water/Sewer Expense: 1325
Total Annual Expenses: 111440
Annual Caretaker Expense: 0

Lease Details

Land Leased: Not Applicable

Miscellaneous Information

Homestead: No

Ownership

Fractional Ownership: No

Parking Characteristics

Garage Dimensions: Two Buildings of 22x120
Garage Door Height: 7
Garage Door Width: 8
Garage Square Feet: 5280

Public Survey Info

Range#: 22
Section#: 19
Township#: 28

Sale Options

Sale Includes: Building, Leases

Unit 1

No. of 1 Bedroom Units: 12

Unit 2

No. of 2 Bedroom Units: 12

Unit Details

Total Units: 24

Office/Member Info

Association: SEMR

Location, Tax and Other Information

Legal Description: COVERDALE ADDITION 10 1 ALL OF LOTS 1 & 2 BLK 1 & N 58.70 FT OF LOT 3 BLK 1 & N 41.28 FT OF LOT 8 BLK 1 & ALL OF LOTS 9 & 10 BLK 1 ANDCOVERDALE ADDITION 8 1 LOT 3 BLK 1 EX N 58.70 FT & ALL OF LOTS 4 THRU 7 BLK 1 & LOT 8 BLK 1 EX N 41.28 FT
Listing City: West Saint Paul
Map Page: 122
Municipality: West Saint Paul
School District: West St. Paul-Mendota Hts.-Eagan
School District Phone: 651-403-7002
Zip Plus 4: 9533
Property ID Number: 421850001102
Tax Year: 2023
Tax Amount: 38190
In Foreclosure?: No
Potential Short Sale?: No
Lender Owned?: No

Directions & Remarks

Public Remarks: Two 12-Unit apartment complexes that sit on 2.7 acres in West St. Paul conveniently located on bus route near main retail corridor. Complex has been professionally managed and maintained with 100% occupancy ready for new owner. Brick front buildings consist of 12 - 2 Bedroom units, 2 - 1 Bedroom with Den units, and 10 - 1 Bedroom units. Each unit is allotted a garage and one parking space in private parking lot. Two (owned) sets of coin operated laundry machines are located in each building with individual storage closet for each unit. Recent updates include: Hallways painted 2024, garage roofs 2023, A/C units 2022, hallway carpeting & trim 2020, and garage doors replaced 2018. Rents all are currently under local averages for this West St. Paul area & lots of room for increased cap performance. Financials and rent rolls available upon request. We encourage your questions and inquiries prior to scheduling showings. More photos coming soon.
Directions: Robert Street to West on Wentworth Ave. W. - North on Bellows - West on Carmel Ave. W. - North to properties on Righthand side.

Accessible

None: Yes

Air Conditioning

Window Unit(s): Yes

Amenities Shared

Coin-op Laundry Owned: Yes

Amenities Unit

Deck: Yes
Patio: Yes

Appliances

Range: Yes
Refrigerator: Yes

Assumable Loan

Not Assumable: Yes

Construction Status

Previously Owned: Yes

Exterior

Brick/Stone: Yes

Fencing

None: Yes

Financing Terms

Conventional: Yes

Fuel

Electric: Yes
Natural Gas: Yes

Heating

Baseboard: Yes

Lot Description

Corner Lot: Yes
Public Transit (w/in 6 blks): Yes
Tree Coverage - Light: Yes

Owner Pays

Common Area Maintenance: Yes
Electricity: Yes
Exterior Maintenance: Yes
Grounds Care: Yes
Heat: Yes
Insurance: Yes
Lawn: Yes
Maintenance/Repair: Yes
Repairs: Yes
Sewer: Yes
Snow Removal: Yes
Taxes: Yes
Trash Collection: Yes
Water: Yes

Pool Description

None: Yes

Rental License Type

Standard: Yes

Road Frontage

City Street: Yes

Road Responsibility

Public Maintained Road: Yes

Roof

Age 8 Years or Less: Yes
Flat: Yes

Sewer

City Sewer/Connected: Yes

Stories

Two: Yes

Topography

Level: Yes

Wall Description

Drywall: Yes

Water

City Water/Connected: Yes

Window Features

Aluminum Frames: Yes

No. of Ranges

One Per Unit: Yes

No. of Refrigerators

One Per Unit: Yes

Tenant Pays

Broadband: Yes
Cable TV: Yes
Electricity: Yes

On Site Utilities

Electric Common: Yes
Heating Common: Yes
Hot Water Common: Yes

CMU Style

Apartments/Multi Family: Yes
Common Wall: Yes

Current Use

Residential: Yes

Loan Terms

Cash: Yes
FHA: Yes

Location Description

Free Standing: Yes

Overhead Door Clearance

0-9 Feet: Yes

Listing Office: Minnesota Realty Company

Last Updated: August - 07 - 2025

The data relating to real estate for sale on this web site comes in part from the Broker Reciprocity SM Program of the Regional Multiple Listing Service of Minnesota, Inc. The information provided is deemed reliable but not guaranteed. Properties subject to prior sale, change or withdrawal. ©2024 Regional Multiple Listing Service of Minnesota, Inc All rights reserved.