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 | |
Updated | April 14th, 2025 |
Type | Multi-family |
Price | $622,000 |
Building | 7,518 Sq. Ft. |
Land | 0.11 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