1631 Charles Avenue, Saint Paul, MN 55104
$1,100,000
Property Type:
Commercial
Square Footage:
10,260
Lot Size (sq. ft.):
7,405
Status:
Active
Current Price:
$1,100,000
List Date:
6/14/2025
Last Modified:
9/30/2026
Overview
Description
...
(Read more)
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 9.65% Cap Rate!!
Listing Details 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 YN
- 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
Property Features
Accessible:
None
Air Conditioning:
Window Unit(s)
Amenities Shared:
None
Appliances:
Range; Refrigerator
Assumable Loan:
Not Assumable
Basement:
Full; Partially Finished
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
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
- 1100000
- 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
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
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
Listing Office:
Apartment Cash Flow, Inc.
Last Updated: September - 30 - 2026
The data relating to real estate for sale on this web site comes in part from the Broker
Reciprocity SM Program of the Regional Multiple Listing Service of Minnesota, Inc. The information provided is deemed reliable but not guaranteed. Properties subject to prior sale, change or withdrawal.
©2026 Regional Multiple Listing Service of Minnesota, Inc All rights reserved.