Share This Listing

Message

940 characters remaining

Hmm, there seems to have been an error sending your message. Please try again.

Your email has been sent.

Still interested?

Contact the broker for more information about this property

Thomas 14 Apartments 1715 Thomas Ave 14 Unit Apartment Building $1,975,837 CAD ($141,131 CAD/Unit) 7.01% Cap Rate Saint Paul, MN 55104

Save this listing!

Favourite this listing to get notified of price updates, new media and more

INVESTMENT HIGHLIGHTS

  • Newer Pitched Shingled Roofs
  • 13 Off-Street parking Spaces
  • Renovated Laundry rooms with brand new speed queen washers and dryers
  • Original Oak Hardwood Flooring

EXECUTIVE SUMMARY

14-units located right in the heart of the Midway neighborhood of Saint Paul, MN. Two identical seven-unit buildings next to each other offer all one-bedroom, one bath apartments with plenty of charm and character plus off-street parking. These properties are very well-maintained with newer commercial grade carpet and freshly painted walls throughout the common spaces and two renovated laundry rooms for residents to use and enjoy! All the top floor units feature solid oak hardwood floors! Each apartment includes unique and built-in bookcases that help separate the living rooms from the kitchens. The pitched roofs have been recently replaced and the freshly painted exterior stucco is low maintenance. Outside has plenty of green space around the buildings and in between and the back parking lot includes 13 off-street parking spaces. The buildings are secure, 100% fully occupied and easy to rent being close to both downtown Minneapolis and Saint Paul, MN and walking distance to the Minnesota United’s Allianz Field. Super clean and turn-key!!

DATA ROOM Click Here to Access

FINANCIAL SUMMARY (PRO FORMA - 2025)

ANNUAL (CAD) ANNUAL PER SF (CAD)
Gross Rental Income $215,753 $44.95
Other Income $3,139 $0.65
Vacancy Loss $4,314 $0.90
Effective Gross Income $214,579 $44.70
Taxes $34,229 $7.13
Operating Expenses $41,812 $8.71
Total Expenses $76,042 $15.84
Net Operating Income $138,537 $28.86

FINANCIAL SUMMARY (PRO FORMA - 2025)

Gross Rental Income (CAD)
Annual $215,753
Annual Per SF $44.95
Other Income (CAD)
Annual $3,139
Annual Per SF $0.65
Vacancy Loss (CAD)
Annual $4,314
Annual Per SF $0.90
Effective Gross Income (CAD)
Annual $214,579
Annual Per SF $44.70
Taxes (CAD)
Annual $34,229
Annual Per SF $7.13
Operating Expenses (CAD)
Annual $41,812
Annual Per SF $8.71
Total Expenses (CAD)
Annual $76,042
Annual Per SF $15.84
Net Operating Income (CAD)
Annual $138,537
Annual Per SF $28.86

PROPERTY FACTS

Price $1,975,837 CAD
Price Per Unit $141,131 CAD
Sale Type Investment
Cap Rate 7.01%
Sale Condition 1031 Exchange
Gross Rent Multiplier 9.2
No. Units 14
Property Type Multifamily
Property Subtype Apartment
Apartment Style Garden
Building Class B
Lot Size 0.36 AC
Building Size 8,600 SF
Average Occupancy 100%
No. Stories 2
Year Built/Renovated 1959/2020
Parking Ratio 1.51/1,000 SF
Zoning Multi-Family

AMENITIES

  • Smoke Detector

UNIT AMENITIES

  • Air Conditioning
  • Cable Ready
  • Storage Space
  • Washer/Dryer
  • Heating
  • Ceiling Fans
  • Tile Floors
  • Eat-in Kitchen
  • Kitchen
  • Hardwood Floors
  • Refrigerator
  • Stainless Steel Appliances
  • Tub/Shower
  • Carpet
  • Lawn
  • Pantry
  • Vinyl Flooring
  • Large Bedrooms

UNIT MIX INFORMATION

DESCRIPTION NO. UNITS AVG. RENT/MO SF
1+1 14 $1,399 CAD 600
Walk Score®
Very Walkable (85)
Bike Score®
Very Bikeable (80)
What is a Walk Score®, Transit Score® & Bike Score®?
Walk Score® measures the walkability of any address.
Transit Score® measures access to public transit.
Bike Score® measures bikeability of a location.
What is a Walk Score®
, Transit Score® & Bike Score?
Walk Score® measures the walkability
of any address. Transit Score®
measures access to public transit. Bike Score®
measures bikeability of a location.®

PROPERTY TAXES

PROPERTY TAXES

Parcel Numbers
Multiple
  • 33-29-23-12-0108
  • 33-29-23-12-0107
Land Assessment
$394,828 CAD
Improvements Assessment
$1,156,141 CAD
Total Assessment
$1,550,969 CAD
Annual Taxes
$34,229 CAD ($3.98 CAD/SF)
Tax Year
2025 Payable 2025
  • Listing ID: 38002309

  • Date on Market: 2025-10-09

  • Last Updated:

  • Address: 1715 Thomas Ave, Saint Paul, MN 55104

Link copied
Your LoopNet account has been created!

Please Share Your Feedback

We welcome any feedback on how we can improve LoopNet to better serve your needs.
X
{{ getErrorText(feedbackForm.starRating, "rating") }}
255 character limit ({{ remainingChars() }} charactercharacters remainingover)
{{ getErrorText(feedbackForm.msg, "rating") }}
{{ getErrorText(feedbackForm.fname, "first name") }}
{{ getErrorText(feedbackForm.lname, "last name") }}
{{ getErrorText(feedbackForm.phone, "phone number") }}
{{ getErrorText(feedbackForm.phonex, "phone extension") }}
{{ getErrorText(feedbackForm.email, "email address") }}