Active
523 Lexington Parkway N
Saint Paul MN, 55104
$579,900
$85.03 per sqft
Active
6,820 sqft
Commercial
Built in 1922
CLASSIC ALL BRICK 6-UNIT LOCATED IN THE HEART OF THE MIDWAY IN SAINT PAUL, MN. THIS BUILDING IS VERY CLEAN AND VERY WELL MAINTAINED BY THE CURRENT LONG TERM OWNER! THERE ARE FOUR ONE-BEDROOM AND ONE EFFICIENCY APARTMENTS, PLUS A MAIN FLOOR OFFICE COMMERCIAL SPACE. THE OFFICE UNIT HAS POTENTIAL TO BE CONVERTED INTO ANOTHER ONE BEDROOM APARTMENT OR COMBINED WITH THE APARTMENT NEXT DOOR. ALL THE UNITS ARE EASY TO KEEP RENTED WITH PROVIDED OFF-STREET PARKING AND HEAT, WATER, AND TRASH INCLUDED IN RENT. EACH TENANT PAYS FOR THEIR OWN SEPARATE ELECTRIC SERVICE. THE PITCHED ROOF HAS BEEN REPLACED IN THE LAST 12 YEARS AND HAS BEEN RECENTLY CHECKED FOR STORM DAMAGE WHICH THERE IS NONE. THERE IS ORIGINAL HARDWOOD FLOORS AND TRIM THROUGHOUT THE PROPERTY WHICH GIVES IT CHARACTER FROM WHEN IT WAS BUILT IN 1922. THE OFF-STREET PARKING LOT IN THE REAR GIVES RESIDENTS A SAFE PLACE TO PARK. THE LOWER LEVEL BASEMENT HAS ADDITIONAL POTENTIAL TO IMPROVE INCOME BY ADDING RENTABLE STORAGE UNITS OR ANOTHER 7TH UNIT. CURRENTLY 100% OCCUPIED. A NEW OWNER CAN RAISE RENTS ON LEASE RENEWALS TO CAPTURE A HIGHER RETURN ON INVESTMENT! THE SELLER WOULD CONSIDER AN OFFER WITH OWNER FINANCING!! $579,900.00
6659875
MLSⓇ ID
February 11, 2025
Listed
February 14, 2025
Updated
Interior Features
Appliances
Range, Refrigerator
Fireplace
No
Cooling
Yes
Cooling Description
Window Unit(s)
Heating
Yes
Heating Description
Boiler
Exterior/Building Features
Lot Size
0.19 Acres
Sewer
City Sewer/Connected
School Information
School District
St. Paul
Other Property Details
Taxes
$11,434
Tax Frequency
Annually
Days on Market
3
Accessibility
None
Garage
No
Parking
Parking Lot
View
No
County
Ramsey
Water Source
City Water/Connected
Pool
No
Utilities
Electric Separate, Heating Common, Hot Water Common
Courtesy of Apartment Cash Flow, Inc.
If a listing is in Coming Soon status, it is not currently available for showings but will be soon. Open House information is subject to change without warning. This home sale information is not an appraisal, competitive or comparative market analysis, CMA, or home evaluation. Information Deemed Reliable But Not Guaranteed. All properties are subject to prior sale, change, or withdrawal. Neither listing broker(s) nor Regan + Hornig shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless.
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Data last updated 4:08 PM UTC, 2/14/2025