Property Listing
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), 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.
Property Information
Status: Active
Sub Type: ********
List Price: $634,000
MLS#: 7036265
Current Price: $634,000
Address: 1024 Ross Avenue, Saint Paul, MN 55106
City: Saint Paul
State: MN
Postal Code: 55106
Geo Lat: 44.96554
Geo Lon: -93.057361
Subdivision: Terrys Add
County: Ramsey
Property Description
Year Built: 2004
Lot Size SqFt: 4791.6
Gen Tax: 10100
Specials Inst: 0
High School: St. Paul
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Total SqFt.: ********
Style: ********
Total Bedrooms: 9
Total Bathrooms: 5
Total Full Baths: ********
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Garage Stalls: 0
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Property Features
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Lot Feat/Fld Plain: Array
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Inclusions: Building, Land, Leases, Rental License
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