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1940 Iglehart Ave
Saint Paul, MN 55104
Immeuble residentiel Propriété À vendre
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32 Unités
Certaines informations ont été traduites automatiquement.
Faits saillants de l'investissement
- Stable In-Place Rents – Average rents are approximately $1,193 per month, supporting a solid existing income profile.
- Spacious Floor Plans – Residences average approximately 959 square feet, providing larger layouts than many competing rental options.
- Nearby Recreation Amenities – Located just three blocks from Merriam Park, with baseball diamonds, tennis courts, a soccer field, and open green space
- Proximity to Major Colleges – Located near Macalester College and the University of St. Thomas, helping support steady renter demand.
- Established Merriam Park Location – Positioned in a desirable neighborhood with access to nearby education, recreation, and residential amenities.
Résumé de l'annonce
Marcus & Millichap, as the exclusive listing agent, is pleased to present the opportunity to acquire Spanish Villa Apartments, a 32-unit multifamily property located at 1940 Iglehart Avenue in Saint Paul, Minnesota.
Built in 1972, Spanish Villa Apartments offers investors the opportunity to acquire a well-located apartment asset in the established Merriam Park area, with strong access to nearby education, recreation, and residential amenities. The property benefits from its location near Macalester College and the University of St. Thomas, supporting steady rental demand in the area.
Spanish Villa Apartments is comprised of 16 one-bedroom residences, 12 two-bedroom/one-bath residences, and 4 two-bedroom/ one-and-a-half-bath residences, providing a balanced unit mix with broad renter appeal. The residences average approximately 959 square feet in size, offering notably spacious layouts for the market. With average rents of approximately $1,193 per month, the property provides a stable in-place income profile while allowing investors to evaluate future rent growth based on market positioning and unit condition.
The property sits on a 0.24-acre lot and features 25 surface parking spaces and 5 garage spaces, offering convenient on-site parking for residents. Spanish Villa Apartments has also benefited from capital improvements, including a roof replacement in 2022 and windows replaced in 2006. In addition, 30 units feature LVP flooring, and the property includes owned laundry equipment and an on-site manager. The property is located just three blocks from Merriam Park, which features baseball diamonds, tennis
courts, a soccer field, and open green space, further adding to the appeal of the location.
Built in 1972, Spanish Villa Apartments offers investors the opportunity to acquire a well-located apartment asset in the established Merriam Park area, with strong access to nearby education, recreation, and residential amenities. The property benefits from its location near Macalester College and the University of St. Thomas, supporting steady rental demand in the area.
Spanish Villa Apartments is comprised of 16 one-bedroom residences, 12 two-bedroom/one-bath residences, and 4 two-bedroom/ one-and-a-half-bath residences, providing a balanced unit mix with broad renter appeal. The residences average approximately 959 square feet in size, offering notably spacious layouts for the market. With average rents of approximately $1,193 per month, the property provides a stable in-place income profile while allowing investors to evaluate future rent growth based on market positioning and unit condition.
The property sits on a 0.24-acre lot and features 25 surface parking spaces and 5 garage spaces, offering convenient on-site parking for residents. Spanish Villa Apartments has also benefited from capital improvements, including a roof replacement in 2022 and windows replaced in 2006. In addition, 30 units feature LVP flooring, and the property includes owned laundry equipment and an on-site manager. The property is located just three blocks from Merriam Park, which features baseball diamonds, tennis
courts, a soccer field, and open green space, further adding to the appeal of the location.
Faits sur la propriété
| Type de vente | Investissement | Taille du lot | 0,24 AC |
| Nombre d’unités | 32 | Taille du bâtiment | 36 516 pi² |
| Type de propriété | Immeuble residentiel | Nombre d’étages | 3 |
| Sous-type de propriété | Appartement | Année de construction | 1972 |
| Style d’appartement | De faible hauteur | Ratio de stationnement | 0,82/1 000 pi² |
| Classe d’immeuble | C |
| Type de vente | Investissement |
| Nombre d’unités | 32 |
| Type de propriété | Immeuble residentiel |
| Sous-type de propriété | Appartement |
| Style d’appartement | De faible hauteur |
| Classe d’immeuble | C |
| Taille du lot | 0,24 AC |
| Taille du bâtiment | 36 516 pi² |
| Nombre d’étages | 3 |
| Année de construction | 1972 |
| Ratio de stationnement | 0,82/1 000 pi² |
Commodités
Commodités des unités
- Chauffage
- Cuisine
- Réfrigérateur
- Four
- Fourchette
Unité renseignements sur le mélange
| Description | Nombre d’unités | Loyer moyen/mois | pi² |
|---|---|---|---|
| 1+1 | 16 | - | 750 |
| 2+1 | 12 | - | 1 150 |
| 2+1.5 | 4 | - | 1 225 |
Impôts fonciers
| Numéro de lot | 33-29-23-34-0123 | Évaluation des bâtiments | 3 804 752 $ CAD |
| Évaluation du terrain | 889 773 $ CAD | Évaluation totale | 4 694 525 $ CAD |
Impôts fonciers
Numéro de lot
33-29-23-34-0123
Évaluation du terrain
889 773 $ CAD
Évaluation des bâtiments
3 804 752 $ CAD
Évaluation totale
4 694 525 $ CAD
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