981 Thomas Ave, St. Paul, 55104

Commercial - Apartments/Multi Family, Low Rise For Sale in D W Moores Add


MLS® #: 5296835
Active, 27 Days on Market

Opportunity to own 2 apartments with a total of 15 units and 27 total bedrooms across the street from each other. High demand area due to the proximity of the light rail. Rental demand increases yearly and even with scheduled $50/month increases scheduled, the open market rents would be much higher. Both are solid buildings with many of the maintenance items completed so you can enjoy years of trouble free ownership. ON-site caretaker in place. Opportunity to add nearly $10,000 per year to NOI by participating in the 4 (d) Affordable Housing Incentive with a property reduction. Current rents are well within the requirements.Thomas new roof in 2013. new plumbing shut offs, new gas stoves, 3 car garage and coin op laundry (Approximately $1,800 in extra income).

Essential Information

MLS® #: 5296835
Price: $725,000
Square Footage: 4,800
Acres: 0.20
Year Built: 1959
Type: Commercial
Sub-Type: Apartments/Multi Family, Low Rise
Style: Apartments/Multi Family, Low Rise
Status: Active

Community Information

Address: 981 Thomas Ave
Area: Thomas-Dale (Frogtown)
Subdivision: D W Moores Add
City: St. Paul
County: Ramsey
State: MN
Zip Code: 55104


Amenities: Natural Woodwork, Kitchen Window, Hardwood Floors, Tiled Floors
Utilities: Electric Common, Electric Separate, Hot Water Common
# of Garages: 3
Garages: Detached Garage, Uncovered/Open, Driveway - Asphalt, Paved Lot


Appliances: Range, Refrigerator
Heating: Hot Water, Boiler
Cooling: Window


Exterior: Stucco
Lot Description: Corner Lot, Tree Coverage - Medium
Roof: Asphalt Shingles, Age 8 Years or Less
Foundation: 2400

School Information

District: 625 - St. Paul

Additional Information

Date Listed: September 23rd, 2019
Days on Market: 27
Zoning: Residential-Multi-Family
Current Use: Residential

Listing Details

Listing Office: Coldwell Banker Burnet


$/SqFt: $151

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Listing information last updated on October 20th, 2019 at 8:35am CDT.