1631 Charles Avenue, Saint Paul, MN 55104 (MLS# 6739015)

General Property Information

Lot Measurement: Acres
Management Company Name: Lion Rock Property Management
Multiple PIDs?: No
Other Parking Spaces: Yes
Owner Occupied: No
Waterfront Present: No
Year Built: 1940
Yearly/Seasonal: Yearly
Zoning: Residential-Multi-Family
Foundation Size: 3420
Management Company Phone: 952-303-5982
Power Company: Xcel Energy
For Sale or Lease: For Sale
Acres: 0.17
Lot Dimensions: 50 x 120
Assessment Pending: No
Garage Stalls: 0

Property Features

Accessible: None Air Conditioning: Window Unit(s) Amenities Shared: None Appliances: Range; Refrigerator Assumable Loan: Not Assumable Basement: Full; Partially Finished; Poured Concrete CMU Style: Apartments/Multi Family Construction Materials: Brick Construction Status: Previously Owned Current Use: Residential Existing Financing: Free and Clear Exterior: Brick/Stone Fencing: None Flooring: Wood Foundation: 8 ft+ Pour Fuel: Natural Gas Heating: Boiler; Hot Water Loan Terms: Cash; Conventional Lock Box Type: None Lot Description: Tree Coverage - Light On Site Utilities: Electric Separate; Heating Common; Hot Water Common Owner Pays: Gas; Insurance; Lawn; Lawn; Maintenance/Repair; Sewer; Snow Removal; Taxes; Trash Collection; Water Pool Description: None Potential Use: Income Rent Rate per Foot: Per Month Rental License Type: Standard Road Frontage: City Street Road Responsibility: Public Maintained Road Roof: Age Over 8 Years; Flat Sewer: City Sewer/Connected Stories: Three Or More Tenant Pays: Electricity Topography: Level Wall Description: Plaster Water: City Water/Connected Window Features: Double Pane Windows; Insulated Windows

Contract Information

Contingency: None
ListPrice: 1225000
Owner is an Agent?: No
Auction?: No

Location Tax and Other Information

House Number: 1631
Street Name: Charles
Street Suffix: Avenue
Postal City: Saint Paul
County: Ramsey
State: MN
Zip Code: 55104
Complex/Dev/Subdivision: Stierle, Mcconville &, Seegers

Assessments

Tax With Assessments: 24792
Assessment Balance: 0

Building Information

Building Finished SqFt: 10260
Building SqFt: 10260
Ceiling Height: 8-10

More Information

Income and Expenses

Annual Electric Expense: 1200
Annual Fuel Expense: 4220
Annual Gross Expenses: 52230
Annual Gross Income: 158398
Annual Insurance Expense: 6500
Annual Maintenance Expense: 3750
Annual Net Income: 106165
Annual Repair Expense: 1000
Annual Trash Expense: 2587
Annual Water/Sewer Expense: 5956
Total Annual Expenses: 52230
Annual Caretaker Expense: 0

Lease Details

Land Leased: Not Applicable

Miscellaneous Information

Homestead: No

Ownership

Fractional Ownership: No

Public Survey Info

Range#: 23
Section#: 33
Township#: 29

Sale Options

Sale Includes: Building, Land, Leases, Rental License

Unit 1

No. of 1 Bedroom Units: 10

Unit Details

Total Units: 15

Unit Information

No. of Efficiency Units: 5

Office/Member Info

Association: SPAAR

Location, Tax and Other Information

Legal Description: STIERLE MCCONVILLE SEEGERS E 1/2 OF LOT 17 AND ALL OF LOT 16 BLK 1
Listing City: Saint Paul
Map Page: 107
Municipality: Saint Paul
School District: St. Paul
School District Phone: 651-767-8100
Zip Plus 4: 8587
Property ID Number: 332923140039
Tax Year: 2025
Tax Amount: 24792
In Foreclosure?: No
Potential Short Sale?: No
Lender Owned?: No

Directions & Remarks

Public Remarks: Charles Place apartments presents a unique value-add investment opportunity right in the heart of Saint Paul within walking distance to the newly built Allianz Stadium where the MN United soccer team plays! This whole Merriam Park neighborhood currently is in an opportunity zone and is getting transformed into a trendy and upscale destination. Take advantage of this opportunity to acquire 15 units, all-brick exterior, built in 1940 with original oak hardwood flooring and original doors and plaster coved ceilings. A newer Lochinvar Knight hot water boiler system was installed in 2012 and newer water heaters in 2010. The whole building received newer Andersen Series 100 windows in 2018. Electrical panels to each unit are on 60-amp breakers. Operations receive additional revenue from on-site coin operated laundry. All units are currently occupied and leased and ready for new owners to take over!! Average studio rent is $777 and average one-bedroom rent is $876 per month with plenty of room to move these rents up to market. Stabilized with zero delinquencies and a current in place 8.67% Cap Rate!!
Directions: Snelling Ave to Charles / West to Building / on the north side of Charles

Accessible

None: Yes

Air Conditioning

Window Unit(s): Yes

Amenities Shared

None: Yes

Appliances

Range: Yes
Refrigerator: Yes

Assumable Loan

Not Assumable: Yes

Basement

Full: Yes
Partially Finished: Yes
Poured Concrete: Yes

Construction Materials

Brick: Yes

Construction Status

Previously Owned: Yes

Existing Financing

Free and Clear: Yes

Exterior

Brick/Stone: Yes

Fencing

None: Yes

Flooring

Wood: Yes

Foundation

8 ft+ Pour: Yes

Fuel

Natural Gas: Yes

Heating

Boiler: Yes
Hot Water: Yes

Lock Box Type

None: Yes

Lot Description

Tree Coverage - Light: Yes

Owner Pays

Gas: Yes
Insurance: Yes
Lawn: Yes
Maintenance/Repair: Yes
Sewer: Yes
Snow Removal: Yes
Taxes: Yes
Trash Collection: Yes
Water: Yes

Pool Description

None: Yes

Rental License Type

Standard: Yes

Road Frontage

City Street: Yes

Road Responsibility

Public Maintained Road: Yes

Roof

Age Over 8 Years: Yes
Flat: Yes

Sewer

City Sewer/Connected: Yes

Stories

Three Or More: Yes

Topography

Level: Yes

Wall Description

Plaster: Yes

Water

City Water/Connected: Yes

Window Features

Double Pane Windows: Yes
Insulated Windows: Yes

No. of Ranges

One Per Unit: Yes

No. of Refrigerators

One Per Unit: Yes

Tenant Pays

Electricity: Yes

On Site Utilities

Electric Separate: Yes
Heating Common: Yes
Hot Water Common: Yes

CMU Style

Apartments/Multi Family: Yes

Current Use

Residential: Yes

Loan Terms

Cash: Yes
Conventional: Yes

Potential Use

Income: Yes

Rent Rate per Foot

Per Month: Yes