1024 Ross Avenue,Saint Paul, MN 55106
Saint Paul, MN 55106
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.
Details
| MLS # | 7036265 |
|---|---|
| Listing Type | For Sale |
| Sub-Type | Resale |
| Status | Pending |
| Year | 2004 |
| Days On Site | 236 |
| Listing Provided By | Minnesota Realty Guide, LLC | James L Bromenschenkel |
Features
| Bed(s) | 9 |
|---|---|
| Bath(s) | 5 |
| SQ Feet | 4,048 |
| Basement | Y |
| Units | 6 |
| Zoning | Residential-Multi-Family |
| Acreage | 0.11 |
Interior
| Cooling | Central Air |
|---|---|
| Heating | Forced Air |
| Appliances | Dishwasher, Microwave, Refrigerator |
Exterior
| Roof | Age 8 Years or Less, Asphalt |
|---|---|
| Construction Materials | Frame |
| Lot Features | Public Transit (w/in 6 blks) |
Parking
| Parking Features | Asphalt, Unassigned |
|---|
Utilities
| Utilities | Heating Separate |
|---|
Taxes
| Property | 10100 |
|---|
Area Information
| State | MN |
|---|---|
| County | Ramsey |
| City | Saint Paul |
| Zip Code | 55106 |
| Area | 90 |
| Community Name | Terrys Add |
| School District | 625 |
| High School | St. Paul |
| Listing VS Median (in Terrys Add) | |
Price: $619,000 low | high Med: $279,950 sqft: 4,048 low | high Med: 2,881 $ / sqft: $153 low | high Med: $97 On site: 236 low | high Med: 56.5 | |
Market Activity 55106
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Listings courtesy of Northstar MLS as distributed by MLS GRID.
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Learn More About This Property
| State | MN |
|---|---|
| County | Ramsey |
| City | Saint Paul |
| Zip Code | 55106 |
| Area | 90 |
| Community Name | Terrys Add |
| School District | 625 |
| High School | St. Paul |
| Listing VS Median (in Terrys Add) | |
Price: $619,000 low | high Med: $279,950 sqft: 4,048 low | high Med: 2,881 $ / sqft: $153 low | high Med: $97 On site: 236 low | high Med: 56.5 | |
