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CITY
St Paul, MN
UNITS
15
SALES PRICE
$575,000
DOWN PAYMENT
$143,750
TERMS
Cash
Highlights
  • New boiler (2005)
  • New windows (2005)
  • Remodeled kitchens with windows (2005)
  • Double stainless sinks
  • Eating area in kitchens
  • Ceiling fans
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Call MBG at (952) 922 -4405

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Description

Lafond Avenue Apartments is a vintage 1888 red brick building, which was converted from a mixed use to a 15-unit multifamily property. Although the building's exterior has not been redone, many of the apartments have been updated with new kitchens and floors.

The asset offers approximately 9 off-street parking spaces, a full basement for a maintenance workshop and storage, a small green space on the side of the building, and a second-floor laundry room.

Out of the seven two-bedrooms, three are converted store fronts with separate entries, and floor plans that are open and more spacious than the upstairs units. These apartments are also equipped with front entry closets, and forced air rather than radiator heat.

The remaining units- four 2-bedrooms, seven 1-bedrooms, and a studio, are located on the second floor. Common appointments include all white appliances, hardwood floors, plenty of counter space, wood cabinets, and built-in bookcases and linen closets.

The Thomas-Dale neighborhood is one of the oldest St. Paul neighborhoods just a few miles from downtown. The cultural diversity of the area is reflected in the numerous shops and restaurants located along the stretch of University Avenue that borders on the south end. The western edge is Lexington Parkway and the eastern border is 35E.

Summary
Property Type
2 -story brick
Year Built
1888
Units / Rents

1 -- Studios ($510)

7 -- 1 bedrooms ($650)

7 -- 2 bedrooms ($750)   

Heating & Air Conditioning

Gas fired low-pressure steam           Forced air (three units)

Laundry
2 washers & dryers - Coin-op/Owned
Assessed Market Value
$525,000
Real Estate Taxes
2011 - $11,240.00 (w /assessment)
Parcel Size
6,788 sq. ft. acres
Parking
Approx. 9 off-street parking spaces
Roofs
Flat Roof- age unknown
©2008 MINNESOTA BROKERAGE GROUP
4725 Excelsior Blvd. Suite 500 / Minneapolis, MN. 55416
952.922.4405