Property Listing
Description
Turnkey 4-Unit Property with Cash Flow, Tax Savings & Modern Updates! This well-maintained 4-unit multifamily property is a smart investment opportunity offering consistent income, valuable upgrades, and significant tax advantages. Enrolled in the 4d Affordable Housing Program, the property benefits from dramatically reduced property taxes—just $1,385.56 annually, down from $5,992.36. With a current Net Operating Income (NOI) of $37,486, a buyer putting 25% down at a 6.48% interest rate would have an estimated annual mortgage payment of $30,597.84, resulting in approximately $7,000 in annual cash flow—with upside potential through future rent increases or continued unit upgrades. Each unit is separately metered, and tenants pay their own utilities, increasing operational efficiency. The current owner has added solid surface countertops and stainless steel appliances in some units, enhancing both durability and tenant appeal. This is a low-maintenance, income-generating property with built-in efficiency and room for growth—perfect for both seasoned investors and owner occupants.
Property Information
Status: Active
Sub Type: ********
List Price: $515,000
MLS#: 6721712
Current Price: $515,000
Address: 485 Belvidere Street E, Saint Paul, MN 55107
City: Saint Paul
State: MN
Postal Code: 55107
Geo Lat: 44.922383
Geo Lon: -93.065072
Subdivision: Paul Martins 1st Addition, To
County: Ramsey
Property Description
Year Built: 1893
Lot Size SqFt: 4791.6
Gen Tax: 2248
Specials Inst: 0
High School: ********
Square Ft. Source:
Above Grade Finished Area:
Below Grade Finished Area:
Below Grade Unfinished Area:
Total SqFt.: 5400
Style: Array
Total Bedrooms: 6
Total Bathrooms: 4
Total Full Baths:
Garage Type:
Garage Stalls: 0
Waterfront:
Property Features
Exterior:
Roof:
Foundation:
Lot Feat/Fld Plain:
Interior Amenities:
Inclusions: ********
Exterior Amenities:
Heat System:
Air Conditioning:
Utilities: