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Active
$785,000
/mo Edit
Commercial:  Apartment,Low Rise
Built 1968
0.23 acres
South St. Paul schools
MLS# 6512166
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    Property Description

    Solid 6 unit brick building, with new secure exterior doors, new parking lot, located in a lovey tree lined residential neighborhood, good schools, close to library, parks and pools, MTC bus lines, major freeways and major employers. All leases are month-to-month, with history of very low vacancy rate. Five 2 bedroom units and one studio, on sight laundry, and 6 assigned parking spots. Dogs allowed. Building sustained fire damage summer of 2020, units #1 & #3, were fully rebuilt. Residents pay their own unit electric, except for studio, where owner pays all utilities. Owner pays heat, water and sewer, house electric, garbage. New roof in 2011, new water heater in 2021, new parking lot in 2022. City of South St Paul does NOT have rent control. A rental license is required.

    Listing

    Contingency: None
    City: South Saint Paul
    County: Dakota
    State: MN
    Property Style: Apartment, Low Rise
    Zip Code: 55075
    Subdivision Name: Hepburn Park

    Interior

    Ranges: Six or More
    Refrigerators: Six or More
    Appliances Included:
    • Dryer
    • Exhaust Fan
    • Range
    • Refrigerator
    • Washer
    Basement Details:
    • Block
    • Daylight/Lookout Windows
    • Finished

    Exterior

    Other Parking Spaces: 6
    Foundation Size: 3,000 ft2
    Foundation Dimensions: 50 x 60
    Handicap Accessible: None
    Heating System: Boiler
    Parking Features: Parking Lot
    Road Frontage: City Street
    Exterior Material: Brick/Stone
    Roof Details:
    • Age Over 8 Years
    • Asphalt

    Lot & Land

    Acres: 0.23
    Geolocation: 44.88747, -93.035703
    Inclusions: Building, Land
    Lot Dimensions: 80 x 125
    Zoning: Residential-Multi-Family

    Schools

    School District: 6
    District Phone: 651-457-9400

    Expenses

    Annual Caretaker Expense: $900
    Annual Electric Expense: $2,218
    Annual Fuel Expense: $3,700
    Annual Insurance Expense: $5,090
    Annual Maintenance Expense: $900
    Annual Trash Expense: $960
    Annual Water/Sewer Expense: $2,200
    Tenant Expenses: Cable TV, Electricity

    Financial & Taxes

    Tax Year: 2024
    Annual Taxes: $10,902
    Lender-owned: No
    Assessment Pending: No
    Taxes w/ Assessments: $10,902

    Income

    Annual Gross Income: $89,940

    Units

    Total Units: 6

    Miscellaneous

    Current Use: Residential
    Fuel System: Natural Gas
    Owner Occupied: No
    Sewer System: City Sewer/Connected
    Available Utilities:
    • Electric Common
    • Electric Separate
    • Heating Common
    • Hot Water Common
    Water System: City Water/Connected

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    Local Home Mortgage Professionals

    651-253-2144
    Jason & Kim Stone
    Branch Manager & Co-Branch Manager
    Fairway Mortgage    NMLS#1018649
    Jason Stone joined Fairway Independent Mortgage Corporation in October 2017, as a Producing Branch Manager with over 15 years of experience in the mortgage industry. Throughout his career, Jason has originated over $500,000,000 in residential loan volume and has helped several thousand customers with their home financing needs. Jason was named Minneapolis Magazine: Super Mortgage Professional in 2018-2023, Scotsman Guide: Top Mortgage Originator 2019-2022, and Minnesota Housing: Platinum Leander. He is also a retired volunteer firefighter for the city of Mendota Heights, MN which is one of the reasons he’s a Home for Heroes affiliate lender.

    Kim Stone joined Fairway Independent Mortgage Corporation in August 2021, as Co-Branch Manager and Loan Officer. Kim leverages her previous experience as a leader in the non-profit sector to provide care and support throughout each home financing transaction. She has a bachelor’s degree in Communication and Marketing from Minnesota State University, Mankato and a master’s degree in International Business from Nova Southeastern University in Ft Lauderdale, FL.

    Leveraging more than 20 years of combined industry experience, the Stone Mortgage Team of Fairway Independent Mortgage Corporation, considers customer service as a way of life. Not only are we dedicated to finding great rates for our customers, but we also offer some of the fastest turn times in the industry. We pride ourselves on being personable, knowledgeable, accessible and reliable. Financing a home is one of the biggest commitments you will ever make - let us help guide you throughout the entire loan process from application to closing and beyond.
    It would be our pleasure to assist you with your home purchase!

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    Listing provided by RMLS, courtesy of Maxwell Blue Real Estate.
    Disclaimer: The information contained in this listing has not been verified by TheMLSonline.com and should be verified by the buyer.