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Fairview Flats 107-115 Fairview Ave N 12 Unit Apartment Building $2,541,382 CAD ($211,782 CAD/Unit) Saint Paul, MN 55104
Investment Highlights
- Major Exterior Renovation Completed
- Window Replacements
- Merriam Park Location
- New Roof
- Converted to a Ratio Utility Billing System (RUBS)
- 100% Occupancy
Executive Summary
Fairview Flats a 12-unit, extensively improved multifamily asset generating $192,000 in gross rents. The property consists of 10 two-bedroom units and 2 studios, plus three heated tuck-under garages.
The asset has been fully converted to RUBS, enhancing expense recovery and income stability. Significant recent capital improvements include a full roof replacement (25-year warranty), masonry and exterior restoration, concrete and landscaping upgrades within the last year, and extensive interior updates including mechanical systems, kitchens, bathrooms, and common areas throughout the last 10 years.
With stabilized operations and substantial reinvestment completed, this offering represents a true turnkey investment opportunity.
The asset has been fully converted to RUBS, enhancing expense recovery and income stability. Significant recent capital improvements include a full roof replacement (25-year warranty), masonry and exterior restoration, concrete and landscaping upgrades within the last year, and extensive interior updates including mechanical systems, kitchens, bathrooms, and common areas throughout the last 10 years.
With stabilized operations and substantial reinvestment completed, this offering represents a true turnkey investment opportunity.
Property Facts
| Price | $2,541,382 CAD | Building Class | C |
| Price Per Unit | $211,782 CAD | Lot Size | 0.18 AC |
| Sale Type | Investment | Building Size | 9,882 SF |
| No. Units | 12 | Average Occupancy | 100% |
| Property Type | Multifamily | No. Stories | 2 |
| Property Subtype | Apartment | Year Built | 1916 |
| Apartment Style | Low-Rise | ||
| Zoning | RM2 - Medium-Density Multiple-Family Residential | ||
| Price | $2,541,382 CAD |
| Price Per Unit | $211,782 CAD |
| Sale Type | Investment |
| No. Units | 12 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.18 AC |
| Building Size | 9,882 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1916 |
| Zoning | RM2 - Medium-Density Multiple-Family Residential |
Amenities
Unit Amenities
- Air Conditioning
- Disposal
- Heating
- Kitchen
- Refrigerator
- Oven
- Range
Site Amenities
- 24 Hour Access
- Tenant Controlled HVAC
- Recycling
- Trash Pickup - Curbside
- Walk-Up
- Smoke Detector
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 2 | - | 240 |
| 2+1 | 10 | - | 685 - 800 |
1 1
Moderately walkable
60/100
Very drivable
80/100
Some public transit
50/100
Moderately bikeable
70/100
Property Taxes
| Parcel Number | 04-28-23-24-0048 | Improvements Assessment | $1,745,723 CAD |
| Land Assessment | $329,693 CAD | Total Assessment | $2,075,416 CAD |
Property Taxes
Parcel Number
04-28-23-24-0048
Land Assessment
$329,693 CAD
Improvements Assessment
$1,745,723 CAD
Total Assessment
$2,075,416 CAD
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Fairview Flats | 107-115 Fairview Ave N
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