For Sale: Saint Paul MLS# 6707621
Active
NEW!
$1,250,000
Commercial: Apartments
Built 1927
0.27 acres
St. Paul schools
MLS# 6707621
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Property Description
1709 Shields Avenue is just blocks away from the Minnesota United soccer stadium and is in a very desirable and walkable Merriam Park neighborhood of Saint Paul, MN. Solidly built in 1927, this all brick exterior three story building just underwent a complete renovation in 2024-2025! The main and upper floors feature eight apartments that all received new bathrooms and new kitchens with stainless-steel appliance packages including microwaves! The original oak hardwood flooring in the kitchens, dining areas and bedrooms were refinished and walls freshly painted. Common area hallways were cleaned up with new paint and carpet. New tenants have just recently moved in on four of the eight units and the other four are currently being marketed for late spring and summer move-ins. These are the first tenants moving in since the renovation was completed. The lower level offers residents a laundry room with newer machines. All the electrical panels were replaced last year in 2024 with new 100 amp panels, 240 volt range wires to each of the units, and a new electrical service run to the building. Some units still have original closet and bedroom doors and built in closets. The real opportunity for a new buyer is that the lower level has two units that could be put back into service with very minimal work. Each of these two units have separate electric panels and a new 240 volt wire run for the stoves. A new buyer could make each of these into 2-bedroom, 1-bath apartments or into offices, storage units, or use the spaces for themselves. Back when The Fairview Hospital owned this building they used these as classrooms in the basement and the apartments were for traveling nurses. The parking lot has plenty of off-street parking to the east of the building with 16 parking spaces plus one handicap spot. This asset is truly unique and one of a kind and canâ??t be compared to other similar sized apartment buildings in the city! All showings through the listing agent.
Listing
Listing Status:
Active
Contingency:
None
List Price:
$1,250,000
Property Type:
Commercial
City:
Saint Paul
Garage Spaces:
0
County:
Ramsey
Year Built:
1927
State:
MN
Property Style:
Apartments
Zip Code:
55104
Neighborhood/Area:
Merriam Park/Lexington-Hamline
Subdivision Name:
Howard Park
Interior
Ceiling Height:
8-10
Ranges:
One Per Unit
Refrigerators:
One Per Unit
Appliances Included:
- Microwave
- Range
- Refrigerator
Basement Details:
- 8 ft+ Pour
- Finished
Exterior
Stories:
Three Or More
Garage Spaces:
0
Other Parking Spaces:
17
Air Conditioning:
Window Unit(s)
Foundation Size:
3,445 ft2
Handicap Accessible:
None
Road Responsibility:
Public Maintained Road
Heating System:
Boiler
Parking Features:
- Parking Lot
- Paved
Road Frontage:
City Street
Exterior Material:
Brick/Stone
Roof Details:
- Age Over 8 Years
- Flat
- Rubber
Lot & Land
Acres:
0.27
Geolocation:
44.954181, -93.172451
Inclusions:
Building, Land, Leases, Rental License
Lot Dimensions:
90 x 120
Zoning:
Residential-Multi-Family
Lot Description:
Corner Lot
Farm
Topography:
Level
Schools
School District:
625
District Phone:
651-767-8100
Expenses
Annual Caretaker Expense:
None
Annual Electric Expense:
$1,000
Annual Fuel Expense:
$5,370
Annual Insurance Expense:
$7,000
Annual Gross Expense:
$35,706
Annual Trash Expense:
$780
Annual Water/Sewer Expense:
$3,500
Tenant Expenses:
Electricity
Financial & Taxes
Tax Year:
2025
Annual Taxes:
$14,106
Lender-owned:
No
Assessment Pending:
No
Taxes w/ Assessments:
$14,106
Income
Annual Gross Income:
$113,340
Rent
Annual Net Income:
$77,634
Units
Total Units:
8
Miscellaneous
Current Use:
- Commercial
- Residential
Fuel System:
Natural Gas
Owner Occupied:
No
Sewer System:
City Sewer/Connected
Available Utilities:
- Electric Separate
- Heating Common
- Hot Water Common
Water System:
City Water/Connected
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Listing provided by RMLS,
courtesy of Apartment Cash Flow, Inc..
Disclaimer: The information contained in this listing has not been verified by TheMLSonline.com and should be verified by the buyer.
Disclaimer: The information contained in this listing has not been verified by TheMLSonline.com and should be verified by the buyer.