Listed By
Agency Name: MRG Realty Partners, LLC
Agency Phone: 651-900-4386
Shown By
Agent Name: Mitchell Hardsaw
Agent Phone: (507) 993-0311
Agency Title: Counselor Realty
Property Description
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.
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1010 Lafond Avenue, Saint Paul, MN 55104
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1010 Lafond Avenue, Saint Paul, MN 55104
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Agency License Information: Counselor Realty, Inc. is licensed in Minnesota and Wisconsin; Counselor Realty, Inc. of Alexandria is licensed in Minnesota; Counselor Realty Detroit Lakes, LLC is licensed in Minnesota; Counselor Realty of Rochester is licensed in Minnesota; Counselor Realty of Victoria, LLC is licensed in Minnesota; Counselor Realty of Brainerd is licensed in Minnesota.
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1010 Lafond Avenue | MLS# 7020224
This commercial property located at 1010 Lafond Avenue, Saint Paul, MN 55104 is currently listed for sale with an asking price of $1,100,000. Lafond Avenue is located within the St. Paul school district. Search Saint Paul real estate on mhardsaw.counselorrealtyofrochester.com today.