MLS#7036265
STATUSActive
PROPERTY TYPECommercial - Business
SUBDIVISIONTerrys Add
SCHOOLSt. Paul
Property 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 Features
Property Type: Commercial - Business
Basement: Yes
Cooling: Central Air
Fuel Type: Electric, Natural Gas
Heating: Forced Air
Lot Size: 0.11 Acres
Roof Type: Age 8 Years or Less, Asphalt
Stories: 3.0
Taxes: $10,100
Year Built: 2004
Feature Descriptions
Appliances: Dishwasher, Microwave, Refrigerator
Basement: Daylight/Lookout Windows, Drainage System, Concrete, Partially Finished, Single Tenant Access, Storage Space, Walkout
Days on Site: 2
Exterior: Frame
Foundation Size: 2000
Lot: Public Transit (w/in 6 blks)
Lot Dimensions: 38 x 172 x 38 x 172
Owners Expense: Repairs, Trash Collection, Water
Parcel#: 282922340019
Parking: Asphalt, Unassigned
Road Frontage: City Street
Sale Includes: Building, Land, Leases, Rental License
Sewer: City Sewer/Connected
Units: 6
Utilities: Heating Separate
Water: City Water/Connected
Local Schools
School District: St. Paul
Listed By / Shown By
Listed By
Agency Name: Minnesota Realty Guide, LLC
Agency Phone: 651-336-1035
Shown By
Agent Name: Joel Hentges
Agent Phone: (952) 475-9541
Agency Title: Joel Hentges - Re/Max Advantage Plus
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1024 Ross Avenue | MLS# 7036265
This commercial property located at 1024 Ross Avenue , Saint Paul, MN 55106 is currently listed for sale with an asking price of $634,000. Ross Avenue is located within the St. Paul school district. Search Saint Paul real estate on jhentges.homesbyjoel.com today.