WEST 7TH STREET APARTMENTS IS A CLASSIC ALL-BRICK SEVEN-UNIT BUILDING CLOSE TO DOWNTOWN SAINT PAUL, THE MALL OF AMERICA, AND THE MPLS/ST.PAUL INTERNATIONAL AIRPORT. THIS PROPERTY HAS BEEN VERY WELL MANAGED AND CARED FOR OVER THE YEARS, CLEAN AND CONSTRUCTED IN 1966. RESIDENTS ENJOY THE OFF-STREET PARKING LOT… Read More ALONG WITH THE OPTION TO RENT ONE OF THE FOUR GARAGES. THERE IS ONSITE COIN LAUNDRY AND EXTRA STORAGE LOCKERS FOR RESIDENTS. CURRENTLY ALL THE UNITS ARE RENTED AND EACH TENANT PAYS FOR THEIR OWN SEPARATE ELECTRIC. OWNER PAYS HEAT, WATER AND TRASH. ALL FOUR UPPER APARTMENTS FEATURE OAK HARDWOOD FLOORING AND THEY ALL HAVE WALL AIR CONDITIONING UNITS. SPACIOUS ROOMS AND ONE OF THE LOWER LEVEL UNITS IS A SPECIAL TWO-BED TWO-BATHROOM UNIT! ORIGINALLY BUILT WITH AN OFFICE THERE IS A WAY TO CONVERT BACK TO 7 UNITS PLUS OFFICE OR MAKE THE SPACE BEHIND THE LAUNDRY ROOM ANOTHER 8TH UNIT. INCREASE CASH FLOW BY IMPLEMENTING A RATIO UTILITY BILLING SYSTEM (RUBS) TO CAPTURE MORE INCOME. A NEW OWNER CAN RAISE RENTS ON LEASE RENEWALS TO CAPTURE A HIGHER RETURN ON THEIR INVESTMENT! NET OPERATING INCOME $57,272.08 AND A TRUE 8.18+ CAP RATE Read Less
Description: "Age Over 8 Years", "Asphalt", "Pitched"
Sewer
Sewer: "City Sewer/Connected"
Utilities
Water Source: "City Water/Connected", Utilities: "Electric Separate", "Heating Common", "Hot Water Common", Fuel: "Natural Gas", Power Company Name: Xcel Energy
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The data relating to real estate for sale on this web site comes in part from the Broker Reciprocity Program of the Regional Multiple Listing Service of Minnesota, Inc. Real estate listings deemed reliable but not guaranteed. The data relating to real estate for sale on this web site comes in part from the Broker Reciprocity Program of the Regional Multiple Listing Service of Minnesota, Inc. Real estate listings held by brokerage firms other than Obvious Real Estate are marked with the Broker Reciprocity logo or the Broker Reciprocity thumbnail logo (little black house) and detailed information about them includes the name of the listing brokers. This data is updated ten (10) times daily. Some properties which appear for sale on this web site may subsequently have sold and may no longer be available. Listings courtesy of Regional Multiple Listing Service of Minnesota, Inc. as distributed by MLS GRID, based on information submitted to the MLS GRID as of . Information is provided exclusively for consumers' personal noncommercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Data is deemed reliable but is not guaranteed by MLS GRID. All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may be listed or sold by various participants in the MLS, who may not be the office/agent presenting the information. This data is up-to-date as of . For the most current information, contact Obvious Real Estate, 612-750-1368, [email protected]
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