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Michael Hunstad - Managing Broker
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(612) 840-1224

1631 Charles Avenue, Saint Paul, MN 55104

$1,150,000
SQUARE FEET 10,260
MLS# 6739015
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Michael Hunstad - Managing Broker

Michael Hunstad - Managing Broker
Call: (612) 840-1224

STATUS: Active
PROPERTY TYPE: Commercial - Business
SUBDIVISION: Stierle, Mcconville &, Seegers
SCHOOL: St. Paul
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Property Description

Charles Place apartments presents a unique value-add investment opportunity right in the heart of Saint Paul within walking distance to the newly built Allianz Stadium where the MN United soccer team plays! This whole Merriam Park neighborhood currently is in an opportunity zone and is getting transformed into a trendy and upscale destination. Take advantage of this opportunity to acquire 15 units, all-brick exterior, built in 1940 with original oak hardwood flooring and original doors and plaster coved ceilings. A newer Lochinvar Knight hot water boiler system was installed in 2012 and newer water heaters in 2010. The whole building received newer Andersen Series 100 windows in 2018. Electrical panels to each unit are on 60-amp breakers. Operations receive additional revenue from on-site coin operated laundry. All units are currently occupied and leased and ready for new owners to take over!! Average studio rent is $777 and average one-bedroom rent is $876 per month with plenty of room to move these rents up to market. Stabilized with zero delinquencies and a current in place 9.23% Cap Rate!!

1631 Charles Avenue | MLS# 6739015

This commercial property located at 1631 Charles Avenue, Saint Paul, MN 55104 is currently listed for sale with an asking price of $1,150,000. Charles Avenue is located within the St. Paul school district. Search Saint Paul real estate on www.homesbyhunstad.com today.

Property Features

Property Type: Commercial - Business
Basement: Yes
Cooling: Window Unit(s)
Fuel Type: Natural Gas
Heating: Boiler, Hot Water
Lot Size: 0.17 Acres
Roof Type: Age Over 8 Years, Flat
Stories: 3.0
Taxes: $24,792
Year Built: 1940

Feature Descriptions

Appliances: Range, Refrigerator
Basement: Daylight/Lookout Windows, Finished, Full, Concrete, Partially Finished
Current Use: Residential
Days on Site: 443
Exterior: Brick
Foundation Size: 3420
Lot: Tree Coverage - Light
Lot Dimensions: 50 x 120
Owners Expense: Gas, Insurance, Grounds Care, Repairs, Sewer, Snow Removal, Taxes, Trash Collection, Water
Parcel#: 332923140039
Parking: On-Street Parking Only
Road Frontage: City Street
Sale Includes: Building, Land, Leases, Rental License
Sewer: City Sewer/Connected
Tenant Expenses: Electricity
Units: 15
Utilities: Electric Separate, Heating Common, Hot Water Common
Water: City Water/Connected

Local Schools

School District: St. Paul

Listed By / Shown By

Listed By

Agency Name: Apartment Cash Flow, Inc.
Agency Phone: 651-263-3653

Shown By

Agent Name: Michael Hunstad - Managing Broker
Agent Phone: (612) 840-1224
Agency Title: Counselor Realty

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Michael Hunstad - Managing Broker
Michael Hunstad - Managing Broker Office: (763) 231-5006 Cell: (612) 840-1224 Fax: (763) 427-8623 Email Me


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Agency License Information: Counselor Realty, Inc. is licensed in Minnesota and Wisconsin; Counselor Realty, Inc. of Alexandria is licensed in Minnesota; Counselor Realty Detroit Lakes, LLC is licensed in Minnesota; Counselor Realty of Rochester is licensed in Minnesota; Counselor Realty of Victoria, LLC is licensed in Minnesota; Counselor Realty of Brainerd is licensed in Minnesota.

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