402 Hope Street, Saint Paul, MN 55106 (MLS# 7069580)

Overview

Description

991 Wakefield Ave, 991 Hudson Rd, 242 Maria Ave, 49 Manitoba Ave W, 89 Atwater St W, 1003 N. Woodbridge St, 765 Edgerton St, 599 Reaney Ave, 500 Hopkins Ave, 402 Hope St, 947 Minnehaha Ave, 696 Hawthorne Ave, 686 Bradley St, 697 Cook Ave, 856 Burr Ave, 982 Burr Ave, & 732 Jessamine Ave. As a full portfolio, the offering consists of 17 properties and 35 residential units located throughout Saint Paul. All properties participate in the NSP program with affordability covenants in place through August 2028, providing stable, AMI-based income at 50% AMI with a clear path to increased rents at 60% AMI upon program maturity. The portfolio is comprised primarily of duplex-style assets with larger unit configurations, strong occupancy history, and consistent cash flow. Operational advantages include reduced property taxes through 4D classification and exemption from Saint Paul rent stabilization enforcement. Ideal for investors seeking predictable income, operational stability, and long-term upside through structured rent growth & scalable acquisition opportunities.

General Property Information

Lot Measurement: Acres
Multiple PIDs?: No
Other Parking Spaces: 32
Owner Occupied: No
Waterfront Present: No
Year Built: 1887
Yearly/Seasonal: Yearly
Zoning: Residential-Multi-Family
Foundation Size: 20009
Garage Stalls: 13
For Sale or Lease: For Sale
Acres: 0.11
Lot Dimensions: IRREGULAR
Assessment Pending: No

Property Features

Accessible: None Appliances: Range; Refrigerator Basement: Other CMU Style: Duplex Side by Side; Duplex Up and Down Construction Status: Previously Owned Current Use: Residential Exterior: Aluminum Siding; Brick/Stone; Fiber Board; Stucco; Vinyl; Wood Fencing: Chain Link; Full; Partial; Privacy; Wood Foundation: Concrete Block Fuel: Natural Gas Heating: Forced Air Loan Terms: Cash; Special Funding; Other Lot Description: Corner Lot; Irregular Lot; Public Transit (w/in 6 blks) On Site Utilities: Electric Separate; Heating Separate Parking Characteristics: Parking Lot; Driveway - Shared; Uncovered/Open; Other Potential Use: Income Rental License Type: Standard Road Frontage: City Street; Curbs; Paved Streets; Sidewalks; Storm Sewer; Street Lights Road Responsibility: Public Maintained Road Roof: Asphalt Shingles Sewer: City Sewer/Connected Stories: Two Water: City Water/Connected

Contract Information

Contingency: None
ListPrice: 5525000
Owner is an Agent?: No
Auction?: No

Location Tax and Other Information

House Number: 402
Street Name: Hope
Street Suffix: Street
Postal City: Saint Paul
County: Ramsey
State: MN
Zip Code: 55106
Complex/Dev/Subdivision: Hillcrest

Assessments

Tax With Assessments: 23056
Assessment Balance: 0
Assessment Installment: 0

Building Information

Building Finished SqFt: 41826
Building SqFt: 41826

More Information

Income and Expenses

Annual Gross Expenses: 295120
Annual Gross Income: 505302
Annual Net Income: 210182

Lease Details

Land Leased: Not Applicable

Miscellaneous Information

Homestead: No

Ownership

Fractional Ownership: No

Parking Characteristics

Garage Square Feet: 3606
Parking Lot: Yes
Driveway - Shared: Yes
Uncovered/Open: Yes
Other: Yes

Public Survey Info

Range#: 22
Section#: 32
Township#: 29

Sale Options

Sale Includes: Fixture/Equipment, Land, Rental License

Unit 1

No. of 1 Bedroom Units: Yes

Unit 2

No. of 2 Bedroom Units: 10

Unit 3

No. of 3 Bedroom Units: 21

Unit Details

Total Units: 35

Office/Member Info

Association: SPAAR

Location, Tax and Other Information

Legal Description: Multiple Legal Descriptions
Listing City: Saint Paul
Map Page: 108
Municipality: Saint Paul
School District: St. Paul
School District Phone: 651-767-8100
Zip Plus 4: 5031
Property ID Number: TBD
Tax Year: 2026
Tax Amount: 23056
In Foreclosure?: No
Potential Short Sale?: No
Lender Owned?: No

Directions & Remarks

Public Remarks: 991 Wakefield Ave, 991 Hudson Rd, 242 Maria Ave, 49 Manitoba Ave W, 89 Atwater St W, 1003 N. Woodbridge St, 765 Edgerton St, 599 Reaney Ave, 500 Hopkins Ave, 402 Hope St, 947 Minnehaha Ave, 696 Hawthorne Ave, 686 Bradley St, 697 Cook Ave, 856 Burr Ave, 982 Burr Ave, & 732 Jessamine Ave. As a full portfolio, the offering consists of 17 properties and 35 residential units located throughout Saint Paul. All properties participate in the NSP program with affordability covenants in place through August 2028, providing stable, AMI-based income at 50% AMI with a clear path to increased rents at 60% AMI upon program maturity. The portfolio is comprised primarily of duplex-style assets with larger unit configurations, strong occupancy history, and consistent cash flow. Operational advantages include reduced property taxes through 4D classification and exemption from Saint Paul rent stabilization enforcement. Ideal for investors seeking predictable income, operational stability, and long-term upside through structured rent growth & scalable acquisition opportunities.
Directions: Multiple Address - please use GPS.

Accessible

None: Yes

Appliances

Range: Yes
Refrigerator: Yes

Basement

Other: Yes

Construction Status

Previously Owned: Yes

Exterior

Aluminum Siding: Yes
Brick/Stone: Yes
Fiber Board: Yes
Stucco: Yes
Vinyl: Yes
Wood: Yes

Fencing

Chain Link: Yes
Full: Yes
Partial: Yes
Privacy: Yes
Wood: Yes

Foundation

Concrete Block: Yes

Fuel

Natural Gas: Yes

Heating

Forced Air: Yes

Lot Description

Corner Lot: Yes
Irregular Lot: Yes
Public Transit (w/in 6 blks): Yes

Patio, Porch and Deck Features

Covered: Yes
Front Porch: Yes
Patio: Yes
Porch: Yes

Rental License Type

Standard: Yes

Road Frontage

City Street: Yes
Curbs: Yes
Paved Streets: Yes
Sidewalks: Yes
Storm Sewer: Yes
Street Lights: Yes

Road Responsibility

Public Maintained Road: Yes

Roof

Asphalt Shingles: Yes

Sewer

City Sewer/Connected: Yes

Stories

Two: Yes

Water

City Water/Connected: Yes

No. of Ranges

One Per Unit: Yes
Six or More: Yes

No. of Refrigerators

One Per Unit: Yes
Six or More: Yes

On Site Utilities

Electric Separate: Yes
Heating Separate: Yes

CMU Style

Duplex Side by Side: Yes
Duplex Up and Down: Yes

Current Use

Residential: Yes

Loan Terms

Cash: Yes
Special Funding: Yes
Other: Yes

Potential Use

Income: Yes