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729 Oakdale Ave 23 Unit Apartment Building $3,629,392 CAD ($157,800 CAD/Unit) 7.17% Cap Rate Saint Paul, MN 55107
INVESTMENT HIGHLIGHTS
- 3-Story all brick exterior
- On-site coin laundry
- Located across 0.52 acres on a corner lot
- 10 detached garages for extra income
- Excellent mix of 12-2bd and 11-1bd apartments
EXECUTIVE SUMMARY
This is an amazing opportunity to acquire a solid well-built 23-unit apartment building close to the Cherokee Park neighborhood of Saint Paul and near West Saint Paul & South St. Paul cities in Minnesota.
Built in 1963 the unit make-up is twelve 2-bedroom and eleven 1-bedroom apartments all with one full bathroom. Beautiful all-brick exterior with three stories and spread across an oversized 0.52-acre corner lot. Fully rented, on-site coin laundry and a newer hot water heater! Average two-bedroom rents are at $1,184 and one-bedroom rents at $1,049. There are five two-car double garages that are 100% occupied and bring in extra cash flow. Located on a bus route and near highways 52, 494, and 94
729 Oakdale Ave is the perfect investment property to buy with doing a 1031 IRC tax exchange from the sale of your smaller 4-10 units. Increase your monthly cash flow and take advantage of your tax benefits with new depreciation.
Built in 1963 the unit make-up is twelve 2-bedroom and eleven 1-bedroom apartments all with one full bathroom. Beautiful all-brick exterior with three stories and spread across an oversized 0.52-acre corner lot. Fully rented, on-site coin laundry and a newer hot water heater! Average two-bedroom rents are at $1,184 and one-bedroom rents at $1,049. There are five two-car double garages that are 100% occupied and bring in extra cash flow. Located on a bus route and near highways 52, 494, and 94
729 Oakdale Ave is the perfect investment property to buy with doing a 1031 IRC tax exchange from the sale of your smaller 4-10 units. Increase your monthly cash flow and take advantage of your tax benefits with new depreciation.
DATA ROOM Click Here to Access
FINANCIAL SUMMARY (PRO FORMA - 2025) |
ANNUAL (CAD) | ANNUAL PER SF (CAD) |
|---|---|---|
| Gross Rental Income |
$438,123
|
$21.11
|
| Other Income |
$6,678
|
$0.32
|
| Vacancy Loss |
$8,762
|
$0.42
|
| Effective Gross Income |
$436,039
|
$21.01
|
| Taxes |
$60,340
|
$2.91
|
| Operating Expenses |
$115,391
|
$5.56
|
| Total Expenses |
$175,731
|
$8.47
|
| Net Operating Income |
$260,308
|
$12.54
|
FINANCIAL SUMMARY (PRO FORMA - 2025)
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $438,123 |
| Annual Per SF | $21.11 |
| Other Income (CAD) | |
|---|---|
| Annual | $6,678 |
| Annual Per SF | $0.32 |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | $8,762 |
| Annual Per SF | $0.42 |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $436,039 |
| Annual Per SF | $21.01 |
| Taxes (CAD) | |
|---|---|
| Annual | $60,340 |
| Annual Per SF | $2.91 |
| Operating Expenses (CAD) | |
|---|---|
| Annual | $115,391 |
| Annual Per SF | $5.56 |
| Total Expenses (CAD) | |
|---|---|
| Annual | $175,731 |
| Annual Per SF | $8.47 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $260,308 |
| Annual Per SF | $12.54 |
PROPERTY FACTS
| Price | $3,629,392 CAD | Apartment Style | Low-Rise |
| Price Per Unit | $157,800 CAD | Building Class | C |
| Sale Type | Investment | Lot Size | 0.52 AC |
| Cap Rate | 7.17% | Building Size | 20,757 SF |
| Sale Condition | 1031 Exchange | Average Occupancy | 100% |
| Gross Rent Multiplier | 8.28 | No. Stories | 3 |
| No. Units | 23 | Year Built | 1963 |
| Property Type | Multifamily | Parking Ratio | 1.46/1,000 SF |
| Property Subtype | Apartment |
| Price | $3,629,392 CAD |
| Price Per Unit | $157,800 CAD |
| Sale Type | Investment |
| Cap Rate | 7.17% |
| Sale Condition | 1031 Exchange |
| Gross Rent Multiplier | 8.28 |
| No. Units | 23 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.52 AC |
| Building Size | 20,757 SF |
| Average Occupancy | 100% |
| No. Stories | 3 |
| Year Built | 1963 |
| Parking Ratio | 1.46/1,000 SF |
AMENITIES
UNIT AMENITIES
- Heating
- Kitchen
- Refrigerator
- Oven
- Range
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 11 | $1,497 CAD | 650 |
| 2+1 | 12 | $1,693 CAD | 850 - 900 |
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PROPERTY TAXES
| Parcel Number | 08-28-22-31-0139 | Total Assessment | $2,810,185 CAD |
| Land Assessment | $645,987 CAD | Annual Taxes | $60,340 CAD ($2.91 CAD/SF) |
| Improvements Assessment | $2,164,198 CAD | Tax Year | 2025 Payable 2025 |
PROPERTY TAXES
Parcel Number
08-28-22-31-0139
Land Assessment
$645,987 CAD
Improvements Assessment
$2,164,198 CAD
Total Assessment
$2,810,185 CAD
Annual Taxes
$60,340 CAD ($2.91 CAD/SF)
Tax Year
2025 Payable 2025
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729 Oakdale Ave
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