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The Lexington 195 Lexington Pky N 13 Unit Apartment Building $1,785,030 CAD ($137,310 CAD/Unit) 7.93% Cap Rate Saint Paul, MN 55104
Investment Highlights
- Newer Roofs 2021
- Parking lot recently redone
- Newer Hot Water System 2021
- Strong 7.9%+ Cap Rate
Executive Summary
This is a unique opportunity to acquire thirteen well-appointed apartments located in the heart of the Summit University and Union Park neighborhoods of Saint Paul, Minnesota. Stunning curb appeal, featuring 100% all brick and stone exterior. All the roofs have recently been replaced in 2021. The unit mix is all one bedroom, one bath with original oak hardwood floors and trim. Newer hot water boiler system and water heaters. Large double corner lot with over 0.35+ acres, twelve detached garages and a patio area for residents. This asset is the perfect property to buy in your 1031 IRC Tax Exchange!!
The neighborhood is centrally located and offers numerous restaurants, coffee shops, and parks, such as Linwood, Merriam, Iris, Cathedral Hill, and Western Sculpture Parks. Highly walkable with great access to public transportation along Lexington and the University METRO Green Line light rail. Just north of the historic Summit avenue with affluent mansions, churches, and colleges.
The neighborhood is centrally located and offers numerous restaurants, coffee shops, and parks, such as Linwood, Merriam, Iris, Cathedral Hill, and Western Sculpture Parks. Highly walkable with great access to public transportation along Lexington and the University METRO Green Line light rail. Just north of the historic Summit avenue with affluent mansions, churches, and colleges.
Data Room Click Here to Access
Financial Summary (Pro Forma - 2026) |
Annual (CAD) | Annual Per SF (CAD) |
|---|---|---|
| Gross Rental Income |
$215,192
|
$21.41
|
| Other Income |
$2,142
|
$0.21
|
| Vacancy Loss |
$3,227
|
$0.32
|
| Effective Gross Income |
$214,107
|
$21.30
|
| Taxes |
$38,526
|
$3.83
|
| Operating Expenses |
$34,058
|
$3.39
|
| Total Expenses |
$72,585
|
$7.22
|
| Net Operating Income |
$141,523
|
$14.08
|
Financial Summary (Pro Forma - 2026)
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $215,192 |
| Annual Per SF | $21.41 |
| Other Income (CAD) | |
|---|---|
| Annual | $2,142 |
| Annual Per SF | $0.21 |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | $3,227 |
| Annual Per SF | $0.32 |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $214,107 |
| Annual Per SF | $21.30 |
| Taxes (CAD) | |
|---|---|
| Annual | $38,526 |
| Annual Per SF | $3.83 |
| Operating Expenses (CAD) | |
|---|---|
| Annual | $34,058 |
| Annual Per SF | $3.39 |
| Total Expenses (CAD) | |
|---|---|
| Annual | $72,585 |
| Annual Per SF | $7.22 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $141,523 |
| Annual Per SF | $14.08 |
Property Facts
| Price | $1,785,030 CAD | Apartment Style | Low-Rise |
| Price Per Unit | $137,310 CAD | Building Class | B |
| Sale Type | Investment | Lot Size | 0.35 AC |
| Cap Rate | 7.93% | Building Size | 10,560 SF |
| Sale Condition | 1031 Exchange | Average Occupancy | 100% |
| Gross Rent Multiplier | 8.33 | No. Stories | 4 |
| No. Units | 13 | Year Built | 1921 |
| Property Type | Multifamily | Parking Ratio | 1.14/1,000 SF |
| Property Subtype | Apartment | ||
| Zoning | Multi-Family | ||
| Price | $1,785,030 CAD |
| Price Per Unit | $137,310 CAD |
| Sale Type | Investment |
| Cap Rate | 7.93% |
| Sale Condition | 1031 Exchange |
| Gross Rent Multiplier | 8.33 |
| No. Units | 13 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | B |
| Lot Size | 0.35 AC |
| Building Size | 10,560 SF |
| Average Occupancy | 100% |
| No. Stories | 4 |
| Year Built | 1921 |
| Parking Ratio | 1.14/1,000 SF |
| Zoning | Multi-Family |
Amenities
- Smoke Detector
Unit Amenities
- Storage Space
- Ceiling Fans
- Tile Floors
- Kitchen
- Hardwood Floors
- Oven
- Yard
- Handrails
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 13 | $1,379 CAD | 630 - 650 |
1 1
Moderately walkable
70/100
Very drivable
80/100
Some public transit
50/100
Moderately bikeable
70/100
Property Taxes
| Parcel Number | 03-28-23-11-0083 | Total Assessment | $1,762,237 CAD (2025) |
| Land Assessment | $357,006 CAD (2025) | Annual Taxes | $38,526 CAD ($3.65 CAD/SF) |
| Improvements Assessment | $1,405,231 CAD (2025) | Tax Year | 2026 Payable 2026 |
Property Taxes
Parcel Number
03-28-23-11-0083
Land Assessment
$357,006 CAD (2025)
Improvements Assessment
$1,405,231 CAD (2025)
Total Assessment
$1,762,237 CAD (2025)
Annual Taxes
$38,526 CAD ($3.65 CAD/SF)
Tax Year
2026 Payable 2026
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The Lexington | 195 Lexington Pky N
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