940 3rd Street E, Saint Paul, MN 55106 (MLS# 7018248)

940 3rd Street E, Saint Paul, MN 55106

$525,000

Exterior from intersection of 3rd St and Forest St

Property Type: Commercial Bedrooms: 7 Baths: 8 Square Footage: 6,426 Lot Size (sq. ft.): 9,583 Status: Active

Current Price: $525,000 List Date: 4/28/2026 Last Modified: 8/27/2026

Overview

Description

940 3rd St E is a 7-unit multifamily property located in St. Paul, MN; currently fully occupied. The unit mix includes 2-bedroom, 1-bedroom, and studio units. The building is enrolled in the St. Paul 4d Affordable Housing Incentive Program, which can reduce property taxes by up to 80%. Recent improvements include a new hot water heater (2025), complete basement workshop area cleanout, drywall repairs in stairwells, and unit updates throughout.

Listing Details MLS# 7018248

General Property Information

Lot Measurement: Acres
Multiple PIDs?: No
Other Parking Spaces: 10
Waterfront YN: No
Year Built: 1897
Yearly/Seasonal: Yearly
Zoning: Residential-Multi-Family
Foundation Size: 2142
For Sale or Lease: For Sale
Acres: 0.22
Lot Dimensions: 120' x 80'
Assessment Pending: No

Property Features

Accessible: None Air Conditioning: Wall Unit(s); Window Unit(s) Amenities Shared: Coin-op Laundry Owned Assumable Loan: Not Assumable CMU Style: Apartments/Multi Family; Low Rise Construction Status: Previously Owned Current Use: Residential Existing Financing: Conventional Exterior: Brick/Stone; Wood Foundation: Brick/Mortar; Stone Fuel: Natural Gas Heating: Boiler Loan Terms: Cash; Conventional; Special Funding Lock Box Type: Combo On Site Utilities: Electric Separate; Heating Common; Hot Water Common Owner Pays: Gas; Insurance; Taxes; Trash Collection; Water Parking Characteristics: Gravel Lot Rental License Type: Standard Sewer: City Sewer/Connected Stories: Two Tenant Pays: Electricity Water: City Water/Connected

Contract Information

Contingency: None
ListPrice: 525000
Owner is an Agent?: No
Auction?: No

Location Tax and Other Information

House Number: 940
Street Name: 3rd
Street Suffix: Street
Street Direction Suffix: E
Postal City: Saint Paul
County: Ramsey
State: MN
Zip Code: 55106
Complex/Dev/Subdivision: Joseph Arths Sub Of B85 Lyman

Assessments

Assessment Balance: 999.4
Tax With Assessments: 3234

Building Information

Building Finished SqFt: 4284
Building SqFt: 6426

More Information

Income and Expenses

Annual Electric Expense: 1130
Annual Fuel Expense: 5165
Annual Gross Income: 80808
Annual Trash Expense: 1970
Annual Water/Sewer Expense: 3369

Lease Details

Land Leased: Not Applicable

Miscellaneous Information

Homestead: No

Ownership

Fractional Ownership: No

Public Survey Info

Range#: 22
Section#: 33
Township#: 29

Sale Options

Sale Includes: Building, Land

Unit 1

Unit Number: Yes
Monthly Rent: 882
Full Baths: Yes
Total Bathrooms: Yes
Total Bedrooms: Yes
Level: Main Level
Leased?: Yes
Lease Expiration Date: 2026-08-31
No. of 1 Bedroom Units: 5

Unit 2

No. of 2 Bedroom Units: Yes
Full Baths: Yes
Lease Expiration Date: 2026-08-31
Leased?: Yes
Level: Main Level
Monthly Rent: 874
Total Bathrooms: Yes
Total Bedrooms: Yes
Unit Number: 2

Unit 3

Full Baths: Yes
Half Baths: Yes
Lease Expiration Date: 2026-09-30
Leased?: Yes
Level: Main Level
Monthly Rent: 1130
Total Bathrooms: 2
Total Bedrooms: 2
Unit Number: 3

Unit 4

Full Baths: Yes
Lease Expiration Date: 2026-08-31
Leased?: Yes
Level: 2nd Level
Monthly Rent: 999
Total Bathrooms: Yes
Total Bedrooms: Yes
Unit Number: 4

Unit 5

Full Baths: Yes
Lease Expiration Date: 2026-08-31
Leased?: Yes
Level: 2nd Level
Monthly Rent: 974
Total Bathrooms: Yes
Total Bedrooms: Yes
Unit Number: 5

Unit 6

Full Baths: Yes
Lease Expiration Date: 2026-08-31
Leased?: Yes
Level: 2nd Level
Monthly Rent: 975
Total Bathrooms: Yes
Unit Number: 6

Unit 7

Full Baths: Yes
Lease Expiration Date: 2027-04-30
Leased?: Yes
Level: 2nd Level
Monthly Rent: 900
Total Bathrooms: Yes
Total Bedrooms: Yes
Unit Number: 7

Unit Details

Total Units: 7

Unit Information

No. of Efficiency Units: Yes

Listing Office: MRG Realty Partners, LLC

Last Updated: August - 27 - 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.

940 3rd Street E, Saint Paul, MN 55106 (MLS# 7018248)