Saint Paul, MN 55106

New Listing
$619,000
Property Type: Commercial Bedrooms: 9 Baths: 5 Square Footage: 4,048 Lot Size (sq. ft.): 4,792 Status: Active
Current Price: $619,000 List Date: 7/01/2026 Last Modified: 7/01/2026

Overview

Description

A rare chance to acquire a modern, fully occupied multifamily building (built 2004) in Saint Paul with strong, immediate positive cash flow and built-in upside potential. Price includes adjacent, vacant lot at 1020 Ross Ave, which currently serves as tenant green space and garden. 5 rented units currently generating income — all units are leased with long-term, reliable tenants in place, providing stable monthly cash flow from day one. Proven performer: The building is in excellent condition for its age, with identical or near-identical layouts (most units ~1,000 sq ft, 2 bed/1 bath), minimizing maintenance surprises and appealing to a wide tenant pool. Significant value-add opportunity: Configure and add a sixth unit to boost rental income and overall NOI substantially — ideal for an investor looking to increase returns through light renovations or reconfiguration (buyer to verify feasibility with city permitting). Modern construction advantages: Built in 2004 (6,048 sq ft total ...

Listing Details MLS# 7036265

General Property Information

Lot Measurement
Acres
Multiple PIDs?
No
Other Parking Spaces
4
Owner Occupied
No
Waterfront YN
No
Year Built
2004
Yearly/Seasonal
Yearly
Zoning
Residential-Multi-Family
Foundation Size
2000
Power Company
Xcel Energy
For Sale or Lease
For Sale
Acres
0.11
Lot Dimensions
38 x 172 x 38 x 172
Assessment Pending
No
Garage Stalls
0

Property Features

Accessible: None Air Conditioning: Central Air Amenities Shared: Other Amenities Unit: Balcony Appliances: Dishwasher; Microwave; Refrigerator Assumable Loan: Not Assumable Basement: Partially Finished; Single Tenant Access; Storage Space CMU Style: Apartments/Multi Family Construction Materials: Frame Construction Status: Previously Owned Current Use: Other Exterior: Vinyl Fencing: None Flooring: Carpet; Vinyl/Linoleum Foundation: Concrete Block; Slab Fuel: Electric; Natural Gas Heating: Forced Air Internet Options: None Loan Terms: Cash; Conventional; FHA; Rural Development; Special Funding; USDA; VA Lot Description: Public Transit (w/in 6 blks) Miscellaneous Information: Display Window On Site Utilities: Heating Separate Overhead Door Clearance: 0-9 Feet Owner Pays: Maintenance/Repair; Trash Collection; Water Parking Characteristics: Unassigned Potential Use: None Rent Rate per Foot: Per Month Rental License Type: Standard Road Frontage: City Street Road Responsibility: Public Maintained Road Roof: Age 8 Years or Less; Asphalt Shingles Sewer: City Sewer/Connected Stories: Three Or More Topography: Sloped; Walkout Wall Description: Drywall Water: City Water/Connected Window Features: Double Pane Windows

Contract Information

Contingency
None
ListPrice
619000
Owner is an Agent?
No
Auction?
No

Location Tax and Other Information

Postal City
Saint Paul
County
Ramsey
State
MN
Zip Code
55106
Complex/Dev/Subdivision
Terrys Add

Assessments

Tax With Assessments
10100
Assessment Balance
0

Building Information

Building Finished SqFt
6048
Building SqFt
4048
Ceiling Height
8-10

More Information

Income and Expenses

Annual Gross Expenses
12000
Annual Gross Income
72600
Annual Maintenance Expense
600
Annual Net Income
60600
Annual Repair Expense
3950
Annual Trash Expense
1900
Annual Water/Sewer Expense
3700
Total Annual Expenses
10150

Lease Details

Land Leased
Not Applicable

Miscellaneous Information

Homestead
No
Display Window
Yes

Ownership

Fractional Ownership
No

Public Survey Info

Range#
22
Section#
28
Township#
29

Sale Options

Sale Includes
Building, Land, Leases, Rental License

Unit 1

Unit Number
Yes
Monthly Rent
1200
Full Baths
Yes
Total Bathrooms
Yes
Total Bedrooms
2
Total Rooms
4
Leased?
Yes
Lease Expiration Date
2026-10-01

Unit 2

Full Baths
Yes
Lease Expiration Date
2026-10-07
Leased?
Yes
Monthly Rent
1250
Total Bathrooms
Yes
Total Bedrooms
2
Total Rooms
5
Unit Number
2

Unit 3

Full Baths
Yes
Lease Expiration Date
2027-03-01
Leased?
Yes
Monthly Rent
1250
Total Bathrooms
Yes
Total Bedrooms
2
Total Rooms
5
Unit Number
3

Unit 4

Full Baths
Yes
Lease Expiration Date
2026-06-07
Leased?
Yes
Monthly Rent
1200
Total Bathrooms
Yes
Total Bedrooms
2
Total Rooms
5
Unit Number
4

Unit 5

Full Baths
Yes
Lease Expiration Date
2026-08-02
Leased?
Yes
Monthly Rent
1150
Total Bathrooms
Yes
Total Bedrooms
Yes
Total Rooms
4
Unit Number
5

Unit Details

Total Units
6

Office/Member Info

Association
MAAR

Location, Tax and Other Information

Legal Description
TERRYS ADDITION W 12 5O/1OO FT OF LOT 7 AND E 25 FT OF LOT 8 BLK 13
Listing City
Saint Paul
Map Page
108
Municipality
Saint Paul
School District
St. Paul
School District Phone
651-767-8100
Property ID Number
282922340019
Tax Year
2025
Tax Amount
10100
In Foreclosure?
No
Potential Short Sale?
No
Lender Owned?
No

Directions & Remarks

Public Remarks
A rare chance to acquire a modern, fully occupied multifamily building (built 2004) in Saint Paul with strong, immediate positive cash flow and built-in upside potential. Price includes adjacent, vacant lot at 1020 Ross Ave, which currently serves as tenant green space and garden. 5 rented units currently generating income — all units are leased with long-term, reliable tenants in place, providing stable monthly cash flow from day one. Proven performer: The building is in excellent condition for its age, with identical or near-identical layouts (most units ~1,000 sq ft, 2 bed/1 bath), minimizing maintenance surprises and appealing to a wide tenant pool. Significant value-add opportunity: Configure and add a sixth unit to boost rental income and overall NOI substantially — ideal for an investor looking to increase returns through light renovations or reconfiguration (buyer to verify feasibility with city permitting). Modern construction advantages: Built in 2004 (6,048 sq ft total), offering lower capex compared to older properties, better energy efficiency, and stronger tenant retention. Prime East Side location: Convenient access to amenities, employment centers, transit, and downtown Saint Paul, supporting consistent occupancy and rent growth potential in a steadily appreciating market. This property delivers immediate positive cash flow from 5 occupied units while offering clear upside to add a sixth unit for enhanced yields. Fully turnkey with tenants in place — perfect for portfolio expansion.
Directions
Keep right at United States Highway 52 E/I-94 E/US-52 E/US-12 E about 0.8 mi, less than 1 min Take exit 243 on the left onto 6th St E about 0.3 mi, less than 1 min Keep straight on at 6th St E toward Metro State Univ 0.5 mi, about 2 min Bear left at Arcade St Turn right

Accessible

None
Yes

Air Conditioning

Central Air
Yes

Amenities Shared

Other
Yes

Amenities Unit

Balcony
Yes

Appliances

Dishwasher
Yes
Microwave
Yes
Refrigerator
Yes

Assumable Loan

Not Assumable
Yes

Basement

Partially Finished
Yes
Single Tenant Access
Yes
Storage Space
Yes

Construction Materials

Frame
Yes

Construction Status

Previously Owned
Yes

Exterior

Vinyl
Yes

Fencing

None
Yes

Flooring

Carpet
Yes
Vinyl/Linoleum
Yes

Foundation

Concrete Block
Yes
Slab
Yes

Fuel

Electric
Yes
Natural Gas
Yes

Heating

Forced Air
Yes

Internet Options

None
Yes

Lot Description

Public Transit (w/in 6 blks)
Yes

Owner Pays

Maintenance/Repair
Yes
Trash Collection
Yes
Water
Yes

Parking Characteristics

Unassigned
Yes

Patio, Porch and Deck Features

Deck
Yes

Rental License Type

Standard
Yes

Road Frontage

City Street
Yes

Road Responsibility

Public Maintained Road
Yes

Roof

Age 8 Years or Less
Yes
Asphalt Shingles
Yes

Sewer

City Sewer/Connected
Yes

Stories

Three Or More
Yes

Topography

Sloped
Yes
Walkout
Yes

Wall Description

Drywall
Yes

Water

City Water/Connected
Yes

Window Features

Double Pane Windows
Yes

No. of Ranges

One Per Unit
Yes

No. of Refrigerators

One Per Unit
Yes

On Site Utilities

Heating Separate
Yes

CMU Style

Apartments/Multi Family
Yes

Current Use

Other
Yes

Loan Terms

Cash
Yes
Conventional
Yes
FHA
Yes
Rural Development
Yes
Special Funding
Yes
USDA
Yes
VA
Yes

Overhead Door Clearance

0-9 Feet
Yes

Potential Use

None
Yes

Rent Rate per Foot

Per Month
Yes

Documents

IDX
Listing Office: Minnesota Realty Guide, LLC
Last Updated: July - 01 - 2026
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.
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