1275 Payne Avenue
Saint Paul, MN 55130

  • 0.126acres
Est. P&I payment: $1756.51/mo
1275 Payne Avenue, Saint Paul, MN 55130
  • 1275 Payne Avenue, Saint Paul, MN 55130 Photo 1
  • 1275 Payne Avenue, Saint Paul, MN 55130 Photo 2
  • 1275 Payne Avenue, Saint Paul, MN 55130 Photo 3
  • 1275 Payne Avenue, Saint Paul, MN 55130 Photo 4
  • 1275 Payne Avenue, Saint Paul, MN 55130 Photo 5
Description for 1275 Payne Avenue, Saint Paul, MN 55130
Incredible opportunity to acquire a stabilized, cash-flowing asset just minutes from downtown St. Paul. All units and common areas have been fully renovated: new kitchens, bathrooms, laminate and hardwood floors, appliances, and windows. Off-street parking includes 2 spaces per unit (12 total). Net income can be easily increased by bringing rents up to market rate. Very few service calls due to extensive capital improvements. Building is fully occupied, All tenants on 12-month leases.
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My Notes for MLS #4933335

General Features

  • Acres: 0.126
  • Current Use: Residential
  • Foreclosure Status: No
  • Year Built: 1960
  • Sale Includes: Building,​Land,​Leases
  • Total Number of Units: 6
  • Status: Active

Exterior Features

  • Exterior: Stucco,​Brick/Stone
  • Parking Characteristics: Driveway - Asphalt,​Assigned
  • Road Frontage: City
  • Lot Description: Tree Coverage - Medium
  • Lot Dimensions: 190x56
  • Other Parking Spaces: 12

Interior Features

  • Building Finished Square: 6,900
  • Handicap Accessible: None
  • Roof: Flat
  • Number of 1 Bedroom Unit: 3
  • Number of 2 Bedroom Unit: 2

Utilities Features

  • Appliances: Range,​Cooktop,​Microwave,​Dishwasher,​Refrigerator,​Freezer,​Disposal
  • Air Conditioning: Window
  • Heating: Forced Air
  • Fuel: Natural Gas
  • Water: City Water/Connected
  • Number of Ranges: One Per Unit
  • Number of Refrigerators: One Per Unit
  • Sewer: City Sewer/Connected

Financial Features

  • Total Annual Expenses: 20,645
  • Tenant Expenses: Electric,​Fuel
  • Annual Net Income: 34,861
  • Tax Amount: 5,387
  • Tax With Assessments: 5,387.04
  • Tax Year: 2017
  • Annual Gross Income: 55,506

Community Features

  • County: Ramsey
  • Municipality: Saint Paul
  • Postal City: Saint Paul (MN)
  • Neighborhood: Payne-Phalen

School Features

  • School District: 625 - St. Paul
  • School District Phone: 651-767-8100

Misc Features

  • Amenities - Unit: Kitchen Window,​Hardwood Floors,​Tiled Floors
  • Foundation Size: 3,450
  • Zoning: Residential-Multi-Family
  • Lender Owned: No
  • Potential Short Sale: No
  • Number of Efficiencies: 1


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Directions to 1275 Payne Avenue, Saint Paul, MN 55130
35E to Maryland, Turn north on Payne
The listing information for 1275 Payne Avenue, Saint Paul, MN 55130 was graciously provided by our friends at the listing brokerage, Lakes Sotheby's International Realty

Get Financing for 1275 Payne Avenue, Saint Paul, MN 55130

Waterstone Mortgage Corporation
Josh Hennesy
701 Washington Ave North Ste 525
Minneapolis, MN 55401
612.716.1187 Mobile
612.234.4284 Fax
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P&I Payment $1756.51
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Last Updated 04/22/2018 at 2:41am
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