754 Payne Avenue, Saint Paul, MN

Multi-family for Sale - $622,000 - 7,518 Sq. Ft. on 0.11 acres


Agent Info

Ron Becker
EXIT Realty Nexus

Property Info

CIMLS#1174647
Location
  754 Payne Avenue
  Saint Paul MN 55130
UpdatedApril 14th, 2025
TypeMulti-family
Price$622,000
Building7,518 Sq. Ft.
Land0.11 acres

Property Description

This property is a textbook example of bringing a beautiful 19th century 3 -story brick building into the 21st century! The 6 units are refnished to condo grade. There are 2 one BR units on the main foor that are designed as live/work units w/access from the public sidewalk as well as from the private rear entrance.

There are 4 two BR units with private decks, all fnished & currently leased. All units are set up with their own utilities that have separate meters. Building has fre supression system. Units have separate state of the art mechanicals. The entire building has a Lead Clearance report. General access laundry room

& separately accessed landlord work room, utility room & storage area.


Financials

RENT ROLL Type S FT RENT

UNIT A 1BR Live/work 950 $1241 (vac)

UNIT B 1BR Live/work 950 $1241 (Vac)

UNIT C 2BR w/ deck 918 $1241

UNIT D 2BR w/deck 918 $1241

UNIT E 2BR w/deck 918 $1241

UNIT F 2BR w/deck 918 $1241

PROFORMA STATEMENT

Scheduled annual rent $89,352

Less Vacancy (2%) $1787

Gross Income $87,565

EXPENSES ANNUAL

Property taxes 2025 $7576 RAMSEY COUNTY

Insurance $4450 Estimated

Water/Sewer $1860 Expenses

Electric/gas common $1645 -

Rubbish $1560

Lawn/Snow $1525

FirePro $2400

Total Expenses $21,016

NET OPERATING INCOME $66,549