1693 Sherburne Ave - Apartments FOR SALE


Saint Paul, MN 55104- Hamline-Midway
$1,599,000 USD
612-963-5147
1693 Sherburne Ave, Saint Paul, MN for Sale
$1,599,000 USD
Apartments - FOR SALE
1/11
null | Request Cap Rate

1693 Sherburne Ave
Saint Paul, MN 55104
Hamline-Midway


OVERVIEW

Discover an exceptional investment opportunity with this meticulously maintained 18-unit apartment building. Priced to sell at under $89,000 per door, this property offers immediate value and long-term potential. The building will be 100% occupied by March, ensuring consistent cash flow from day one. Situated in a prime location just blocks from Allianz Field, this property is perfectly positioned to benefit from the $160 million "United Village" development project—a transformative plan set to enhance the area and significantly impact property values. Additionally, it’s just one block from the light rail and University Avenue bus line, providing unparalleled access to transportation and city amenities. Many units are currently rented below market rate, presenting a tremendous value-add opportunity. Investors can unlock further potential by upgrading kitchens and bathrooms in select units. Don’t miss your chance to own this well-cared-for property in a highly desirable and rapidly growing area.

FOR SALE DETAILS

PRICE

$1,599,000 USD

PRICE/SF

$120 USD /SF

# OF UNITS

18

PRICE/UNIT

$88,833

CAP RATE

Request Cap Rate

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1972

PARKING SPACES

25

LAND DETAILS

LAND ACRES

0.38 AC

LAND SF

16,553 SF

ZONING

-

APN/PARCEL ID

33-29-23-14-0158

ASK ABOUT THIS PROPERTY

Chad HeerSummit Commercial Real EstateMore Info
612-963-5147

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Chad HeerSummit Commercial Real EstateMore Info
612-963-5147

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.