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981 Thomas Ave, St. Paul, MN – $725,000

  • $725k Price
  • 4,800 Sqft
  • .2 Acres
  • 29 DOM
  • $725k Price
  • 4,800 Sqft
  • .2 Acres
  • 29 DOM

981 Thomas Ave

Opportunity to own 2 apartments with a total of 15 units and 27 total bedrooms across the street from each other. High demand area due to the proximity of the light rail. Rental demand increases yearly and even with scheduled $50/month increases scheduled, the open market rents would be much higher. Both are solid buildings with many of the maintenance items completed so you can enjoy years of trouble free ownership. ON-site caretaker in place. Opportunity to add nearly $10,000 per year to NOI by participating in the 4 (d) Affordable Housing Incentive with a property reduction. Current rents are well within the requirements.Thomas new roof in 2013. new plumbing shut offs, new gas stoves, 3 car garage and coin op laundry (Approximately $1,800 in extra income).

Essential Information

  • MLS® #5296835
  • Price$725,000
  • Square Footage4,800
  • Acres0.20
  • Year Built1959
  • TypeCommercial
  • StatusActive

Sub-Type

Apartments/Multi Family, Low Rise

Style

Apartments/Multi Family, Low Rise

Community Information

  • Address981 Thomas Ave
  • AreaThomas-Dale (Frogtown)
  • SubdivisionD W Moores Add
  • CitySt. Paul
  • CountyRamsey
  • StateMN
  • Zip Code55104

Amenities

  • # of Garages3

Amenities

Natural Woodwork, Kitchen Window, Hardwood Floors, Tiled Floors

Utilities

Electric Common, Electric Separate, Hot Water Common

Garages

Detached Garage, Uncovered/Open, Driveway - Asphalt, Paved Lot

Interior

  • AppliancesRange, Refrigerator
  • HeatingHot Water, Boiler
  • CoolingWindow

Exterior

  • ExteriorStucco
  • Foundation2400

Lot Description

Corner Lot, Tree Coverage - Medium

Roof

Asphalt Shingles, Age 8 Years or Less

School Information

  • District625 - St. Paul

Additional Information

  • Date ListedSeptember 23rd, 2019
  • Days on Market29
  • ZoningResidential-Multi-Family

Listing Details

  • OfficeColdwell Banker Burnet
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Mortgage Information

Mortgage Summary

  • Monthly Payment $0.00
  • Monthly Home Owners Fee $0.00
  • Monthly Taxes $0.00
  • Private Mortgage Insurance $0.00
  • Total Monthly Payment $0.00

The data relating to real estate for sale on this site comes in part from the Broker Reciprocity program of the Regional Multiple Listing Service of Minnesota, Inc. Real Estate listings held by brokerage firms other than Lakes | Sotheby's International Realty are marked with the Broker Reciprocity logo or the Broker Reciprocity house icon and detailed information about them includes the names of the listing brokers. Lakes | Sotheby's International Realty is not a Multiple Listing Service MLS, nor does it offer MLS access. This website is a service of Lakes | Sotheby's International Realty, a broker Participant of the Regional Multiple Listing Service of Minnesota, Inc.

Information deemed reliable but not guaranteed.

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Listing information last updated on October 22nd, 2019 at 11:20am CDT.

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