Marcus & Millichap is pleased to announce the exclusive listing of Raymond and Everett, comprised of 28-apartment units located within the Saint Anthony Park Neighborhood of Saint Paul, Minnesota. 1080 Raymond Avenue and 1057 Everett Court are being offered for sale on a free-and-clear basis.
Constructed in 1972, Raymond and Everett consists of two buildings, on two separate parcels, equaling 0.71 acres conveniently situated between both Downtown Minneapolis (3 miles) and Downtown Saint Paul (5 miles). Thoughtfully maintained by the original owner and developer, all apartment homes have received continued as-needed updates as units turn. These updates include, but are not limited to flooring, counter tops, cabinets, appliances, and bathroom vanities. Each building is equipped with a boiler and A/C wall units for heating and cooling. Tenants have access to off-street parking, garage parking, secured entry, and on-site laundry.
Raymond consists of 16-apartment units and features six studio/one-bathroom units at roughly 400 square feet, and ten one-bedroom/one-bathroom units estimated at 750 square feet. Additionally, there is one commercial unit and an office suite for onsite management. The commercial tenant (Hands of Health Bodywork Massage) has been established at the property for more than fifteen years and is currently on a month-to-month lease. Everett consists of 12-apartment units and features two studio/one-bathroom units at roughly 350 and 375 square feet, and ten one-bedroom/one-bathroom units estimated at 650 square feet.
Located in the northwestern corner of Saint Paul, Saint Anthony Park’s neighborhood is positioned between the downtown areas of Saint Paul and Minneapolis. The small business district in Saint Anthony Park has the ambiance of an urban village, featuring numerous charming shops and local restaurants contributing to the area’s unique character. Beyond the business district, Saint Anthony Park is primarily residential, with a mix of apartments and single-family homes surrounded by abundant trees and landscaping. Langford Park provides residents with ample opportunities for outdoor recreation, while the expansive Como Regional Park is situated just outside the neighborhood’s borders. Saint Anthony Park enjoys convenient access to various notable amenities, including the University of Minnesota’s Saint Paul Campus, the Minnesota State Fair, and Rosedale Center. The neighborhood’s proximity to I-94 and multiple light rail stations ensures easy navigation and accessibility.
This offering presents an opportunity to enter a stable investment with long-term upside potential. The next investor can realize a strong ROI by increasing rents, managing expenses, and continuing to maintain the property with as-needed updates.