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Lafond Avenue Apartments 1010 Lafond Ave 11 Unité Immeuble d’appartements 1 514 183 $ CAD (137 653 $ CAD/Unité) 6,93% Taux de capitalisation Saint Paul, MN 55104
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Faits saillants de l'investissement
- 11-unit multifamily property with a strong unit mix of seven 2-bedroom and four 1-bedroom apartments across approximately 7,850 rentable square feet
- Eligible for the 4-D Tax Program through Saint Paul and Ramsey County, with potential property tax reductions of up to 80%
- Located near the Lexington Parkway and University Avenue corridor with strong access to public transit, highway connectivity, and a growing employment
- Immediate income upside through unbilled parking, storage, and implementation of a Ratio Utility Billing System (RUBS)
- Recent capital improvements including vinyl double-pane windows, white EPDM flat roof, newer water heater, and resurfaced parking lot with 10 surface
Résumé de l'annonce
Built in 1964 and positioned near the Lexington Parkway and University Avenue corridor, the property features a strong unit mix of seven 2-bedroom and four 1-bedroom apartments totaling approximately 7,850 rentable square feet across two stories.
Parking and storage are not currently being billed, presenting immediate upside for investors looking to grow gross income from day one. Capital improvements over the past decade include vinyl double-pane windows, a white EPDM flat roof, a newer water heater, and a resurfaced parking lot (2019) with 10 surface spots and dedicated space for trash and recycling service.
Almost all units are market-rate, meaning investors have the option to enroll in the robust affordable housing programs offered by Saint Paul and Ramsey County, including the 4-D Tax Program, which can reduce property taxes by up to 80%. The current expense structure of owner-paid water, sewer, trash, and heat also makes the property an ideal candidate for a Ratio Utility Billing System (RUBS) to recapture a significant portion of utility costs and hedge against rising expenses.
Situated near public transit, major highway access, neighborhood retail, and the employment and development activity along University Avenue, the property benefits from a deep and growing renter pool in one of Saint Paul's most active corridors.
Parking and storage are not currently being billed, presenting immediate upside for investors looking to grow gross income from day one. Capital improvements over the past decade include vinyl double-pane windows, a white EPDM flat roof, a newer water heater, and a resurfaced parking lot (2019) with 10 surface spots and dedicated space for trash and recycling service.
Almost all units are market-rate, meaning investors have the option to enroll in the robust affordable housing programs offered by Saint Paul and Ramsey County, including the 4-D Tax Program, which can reduce property taxes by up to 80%. The current expense structure of owner-paid water, sewer, trash, and heat also makes the property an ideal candidate for a Ratio Utility Billing System (RUBS) to recapture a significant portion of utility costs and hedge against rising expenses.
Situated near public transit, major highway access, neighborhood retail, and the employment and development activity along University Avenue, the property benefits from a deep and growing renter pool in one of Saint Paul's most active corridors.
Faits sur la propriété
| Prix | 1 514 183 $ CAD | Classe d’immeuble | C |
| Prix par unité | 137 653 $ CAD | Taille du lot | 0,26 AC |
| Type de vente | Investissement | Taille du bâtiment | 9 240 pi² |
| Taux de capitalisation | 6,93% | Occupation moyenne | 91% |
| Condition de vente | 1031 Échange | Nombre d’étages | 3 |
| Nombre d’unités | 11 | Année de construction/rénovation | 1964/2010 |
| Type de propriété | Immeuble residentiel | Ratio de stationnement | 1,08/1 000 pi² |
| Sous-type de propriété | Appartement | Zone de développement économique |
Oui
|
| Style d’appartement | De faible hauteur | ||
| Zonage | RM2 | ||
| Prix | 1 514 183 $ CAD |
| Prix par unité | 137 653 $ CAD |
| Type de vente | Investissement |
| Taux de capitalisation | 6,93% |
| Condition de vente | 1031 Échange |
| Nombre d’unités | 11 |
| Type de propriété | Immeuble residentiel |
| Sous-type de propriété | Appartement |
| Style d’appartement | De faible hauteur |
| Classe d’immeuble | C |
| Taille du lot | 0,26 AC |
| Taille du bâtiment | 9 240 pi² |
| Occupation moyenne | 91% |
| Nombre d’étages | 3 |
| Année de construction/rénovation | 1964/2010 |
| Ratio de stationnement | 1,08/1 000 pi² |
| Zone de développement économique |
Oui |
| Zonage | RM2 |
Commodités
Commodités des unités
- Climatisation
- Lave-vaisselle
Unité renseignements sur le mélange
| Description | Nombre d’unités | Loyer moyen/mois | pi² |
|---|---|---|---|
| 1+1 | 4 | - | 650 - 750 |
| 2+1 | 7 | - | 750 |
1 1
Moyennement praticable à pied
70/100
Très facile d’accès en voiture
80/100
Transports en commun relativement accessibles
50/100
Moyennement praticable en vélo
70/100
Impôts fonciers
| Numéro de lot | 35-29-23-22-0070 | Évaluation des bâtiments | 1 010 098 $ CAD |
| Évaluation du terrain | 302 837 $ CAD | Évaluation totale | 1 312 934 $ CAD |
Impôts fonciers
Numéro de lot
35-29-23-22-0070
Évaluation du terrain
302 837 $ CAD
Évaluation des bâtiments
1 010 098 $ CAD
Évaluation totale
1 312 934 $ CAD
Contacts
-
Nate Schammel -
Luke Hermanson -
Zach Burnside -
David Dirkers -
MRG Realty Partners
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Vidéos
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Lafond Avenue Apartments | 1010 Lafond Ave
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