Mixed Use Downtown St. Paul Gem, located in an Opportunity Zone!

262 4th Street East, Saint Paul, MN

$2,750,000

Price

44,423 sqft

Building Size

29

Units

Overview
Building Size
44,423 sqft
Units
29
Description

Lowertown Saint Paul value add multifamily! An extremely well-built 29 unit (27 Residential & 2 Commercial unit mix).
Residential units are loft style (Mostly 1 Bedroom units) with potential to convert into 41 total units, and almost double the bedroom count due to the size and uniqueness of units.
Known as an Artist loft building, art exudes the building and attracts great tenants in an amazing location! Walk to all the best downtown spots.

Lowertown Saint Paul value add multifamily! An existing 29 unit, 27 residential/2 commercial unit mix. Residential units are loft style mostly 1 bed unit, however, it has potential to be turned into 41 units, and almost double the bedroom count due to the size and uniqueness of units. Known as an Artist loft building, art exudes the building and attracts great tenants in an amazing location, walk to all the best downtown spots. Tenants pay utilities through RUBs. District Energy heat. Tax Credits remaining and in Opportunity Zone. Commercial units on long leases. EPDM Roof, in good condition, per report. In place 6.53 cap rate.

Highlights
  • + Tenants pay utilities through RUBs. District Energy heat
  • + Historical Tax Credits remaining
  • + Located in an Opportunity Zone
  • + Commercial units on long term leases
  • + EPDM Roof, in good condition, per report
  • + In-Place 6.53% Cap Rate!
  • + Land Use Code: 403 APARTMENTS
  • (20-49 Rental Units)
Documents
Location