, South Saint Paul, MN 55075 (MLS# 7131978)

South Saint Paul, MN 55075

New Listing

$1,649,000

Property Type: Commercial Square Footage: 10,902 Lot Size (sq. ft.): 20,909 Status: Active

Current Price: $1,649,000 List Date: 8/23/2026 Last Modified: 8/23/2026

Overview

Description

The Park Apartments in South St. Paul has been proudly owned and self managed for over 25 years. It is located in a first ring suburb of the Twin Cities in Dakota county just off highway 494 and in between both highway 52 and highway 61. This all brick and stucco twelve unit was originally constructed in 1978 and has received many upgrades including renovated units in five of the twelve apartments, double hung vinyl replacement windows throughout, freshly painted common areas, newer hallway carpeting and entrances. The long term owner has meticulously cared for the property and is offering this as a low maintenance turnkey asset for a new investor. One thing that makes this apartment building unique versus other similar size buildings is that each unit has electric baseboard heaters which the tenants pay for reducing the owners operational costs. Average in-place rents for the two-bedrooms are 1,329.00/month and the one-bedroom rents for $1,135.00/month. There are eight detached ... (Read more) The Park Apartments in South St. Paul has been proudly owned and self managed for over 25 years. It is located in a first ring suburb of the Twin Cities in Dakota county just off highway 494 and in between both highway 52 and highway 61. This all brick and stucco twelve unit was originally constructed in 1978 and has received many upgrades including renovated units in five of the twelve apartments, double hung vinyl replacement windows throughout, freshly painted common areas, newer hallway carpeting and entrances. The long term owner has meticulously cared for the property and is offering this as a low maintenance turnkey asset for a new investor. One thing that makes this apartment building unique versus other similar size buildings is that each unit has electric baseboard heaters which the tenants pay for reducing the owners operational costs. Average in-place rents for the two-bedrooms are 1,329.00/month and the one-bedroom rents for $1,135.00/month. There are eight detached garages which brings in an additional $600.00/month. The city of South St. Paul is situated on the west bank of the Mississippi River and just south of St. Paul, close to the Minneapolis-St. Paul International Airport (MSP), many scenic parks including Kaposia Landing and the Mississippi River Greenway. South St. Paul does not have rent stabilization ordinances which allows an owner the freedom to continue to renovate and improve and increase its annual gross income. PROPERTY FACTS Year Built: 1978 Units: 12 garden style apartments Square Footage: Building total 10,902 sqft / garage total 1,600 sqft Zoning: Multiple-dwelling Parking: 4 detached two-car garage stalls / plus 14 off-street parking spots Exterior: All-brick and stucco exterior Heating: Individual electric baseboard heating / tenants pay their own unit heat Air Conditioning: In the wall air conditioning units / seller owned Roof: Flat roof on the 12-units and a newer pitched roof on the garages Balconies: The eight units on the upper two floors feature balconies with newer patio doors Patios: Two south facing garden units have private patios Laundry: Two sets of Maytag coin laundry machines / seller owned Storage: There are three hallway storage lockers that produce extra income UNIT DESCRIPTION 11 - Two Bedroom, One Bath - Approx. 800+ Sqft. / Average rent $1,329.00 1 - One Bedroom, One Bath - Approx. 600+ Sqft / Average rent $1,135.00 PROPERTY IMPROVEMENTS Hallways and Common Areas Recently Painted and carpeted (2024) Newer Hot Water Heater Brand New Water Softener System (2025) Exterior concrete steps new (2025) Newer Double-Hung Windows Throughout the Building Apartment entrance doors recently replaced Five of the twelve apartments have been totally renovated from top to bottom with newer luxury vinyl plank flooring (LVP), carpet in bedrooms, new trim and doors, fresh paint, new tiled bathrooms and vanities, new custom kitchen cabinets and granite countertops, patio doors, new light fixtures, new blinds, and stainless steel appliance package.

Listing Details MLS# 7131978

General Property Information

Lot Measurement: Acres
Management Company Name: Self Managed
Multiple PIDs?: No
Other Parking Spaces: 14
Owner Occupied: No
Waterfront YN: No
Year Built: 1978
Yearly/Seasonal: Yearly
Zoning: Residential-Multi-Family
Foundation Size: 3634
Garage Stalls: 8
For Sale or Lease: For Sale
Acres: 0.48
Lot Dimensions: 164 x 130
Assessment Pending: No

Property Features

Accessible: Other Air Conditioning: Wall Unit(s) Amenities Unit: Balcony; Ceiling Fan(s); Paneled Doors; Patio; Tile Floors Appliances: Range; Refrigerator Assumable Loan: Not Assumable CMU Style: Apartments/Multi Family Construction Materials: Block; Frame Construction Status: Previously Owned Current Use: Residential Existing Financing: Free and Clear Exterior: Brick/Stone; Stucco Fencing: None Flooring: Carpet; Luxury Vinyl Plank; Tile Foundation: Concrete Block; Slab Fuel: Electric Heating: Baseboard Loan Terms: Cash; Conventional Lock Box Type: None Lot Description: Tree Coverage - Light On Site Utilities: Electric Separate; Heating Separate; Hot Water Common Owner Pays: Insurance; Lawn; Lawn; Repairs; Snow Removal; Taxes; Trash Collection; Water Parking Characteristics: Multiple Garages; Parking Lot 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 8 Years or Less; Age Over 8 Years; Asphalt Shingles; Flat; Pitched Sewer: City Sewer/Connected Stories: Three Or More Tenant Pays: Broadband; Electricity; Heat Topography: Sloped Wall Description: Drywall Water: City Water/Connected Window Features: Double Pane Windows

Contract Information

Contingency: None
ListPrice: 1649000
Owner is an Agent?: No
Auction?: No

Location Tax and Other Information

Postal City: South Saint Paul
County: Dakota
State: MN
Zip Code: 55075
Complex/Dev/Subdivision: South St Paul Syndicate Park

Assessments

Tax With Assessments: 24222
Assessment Balance: 0

Basement

Foundation Dimensions: 46 x 79

More Information

Building Information

Building Finished SqFt: 10902
Building SqFt: 10902
Ceiling Height: 8-10

Income and Expenses

Annual Caretaker Expense: 9660
Annual Fuel Expense: 3303
Annual Gross Expenses: 71277
Annual Gross Income: 193212
Annual Insurance Expense: 7443
Annual Maintenance Expense: 4560
Annual Net Income: 121935
Annual Repair Expense: 2400
Annual Trash Expense: 3814
Annual Water/Sewer Expense: 8247
Total Annual Expenses: 71277
Annual Electric Expense: 0

Lease Details

Land Leased: Not Applicable

Miscellaneous Information

Homestead: No

Ownership

Fractional Ownership: No

Parking Characteristics

Garage Dimensions: 20 x 80
Garage Door Height: 8
Garage Door Width: 12
Garage Square Feet: 1600
Multiple Garages: Yes
Parking Lot: Yes

Sale Options

Sale Includes: Building, Land, Leases, Rental License

Unit 1

No. of 1 Bedroom Units: Yes

Unit 2

No. of 2 Bedroom Units: 11

Unit Details

Total Units: 12

Office/Member Info

Association: SPAAR

Location, Tax and Other Information

Legal Description: SOUTH ST PAUL SYNDICATE PARK 33 9 LOTS 33 THRU 36
Listing City: South Saint Paul
Map Page: 136
Municipality: South Saint Paul
School District: South St. Paul
School District Phone: 651-457-9400
Zip Plus 4: 3422
Property ID Number: 366582009361
Tax Year: 2026
Tax Amount: 24222
In Foreclosure?: No
Potential Short Sale?: No
Lender Owned?: No

Directions & Remarks

Public Remarks: The Park Apartments in South St. Paul has been proudly owned and self managed for over 25 years. It is located in a first ring suburb of the Twin Cities in Dakota county just off highway 494 and in between both highway 52 and highway 61. This all brick and stucco twelve unit was originally constructed in 1978 and has received many upgrades including renovated units in five of the twelve apartments, double hung vinyl replacement windows throughout, freshly painted common areas, newer hallway carpeting and entrances. The long term owner has meticulously cared for the property and is offering this as a low maintenance turnkey asset for a new investor. One thing that makes this apartment building unique versus other similar size buildings is that each unit has electric baseboard heaters which the tenants pay for reducing the owners operational costs. Average in-place rents for the two-bedrooms are 1,329.00/month and the one-bedroom rents for $1,135.00/month. There are eight detached garages which brings in an additional $600.00/month. The city of South St. Paul is situated on the west bank of the Mississippi River and just south of St. Paul, close to the Minneapolis-St. Paul International Airport (MSP), many scenic parks including Kaposia Landing and the Mississippi River Greenway. South St. Paul does not have rent stabilization ordinances which allows an owner the freedom to continue to renovate and improve and increase its annual gross income. PROPERTY FACTS Year Built: 1978 Units: 12 garden style apartments Square Footage: Building total 10,902 sqft / garage total 1,600 sqft Zoning: Multiple-dwelling Parking: 4 detached two-car garage stalls / plus 14 off-street parking spots Exterior: All-brick and stucco exterior Heating: Individual electric baseboard heating / tenants pay their own unit heat Air Conditioning: In the wall air conditioning units / seller owned Roof: Flat roof on the 12-units and a newer pitched roof on the garages Balconies: The eight units on the upper two floors feature balconies with newer patio doors Patios: Two south facing garden units have private patios Laundry: Two sets of Maytag coin laundry machines / seller owned Storage: There are three hallway storage lockers that produce extra income UNIT DESCRIPTION 11 - Two Bedroom, One Bath - Approx. 800+ Sqft. / Average rent $1,329.00 1 - One Bedroom, One Bath - Approx. 600+ Sqft / Average rent $1,135.00 PROPERTY IMPROVEMENTS Hallways and Common Areas Recently Painted and carpeted (2024) Newer Hot Water Heater Brand New Water Softener System (2025) Exterior concrete steps new (2025) Newer Double-Hung Windows Throughout the Building Apartment entrance doors recently replaced Five of the twelve apartments have been totally renovated from top to bottom with newer luxury vinyl plank flooring (LVP), carpet in bedrooms, new trim and doors, fresh paint, new tiled bathrooms and vanities, new custom kitchen cabinets and granite countertops, patio doors, new light fixtures, new blinds, and stainless steel appliance package.
Directions: Highway 494 to Fifth ave exit and go north or right to Park street (first street) and go right to end of the cup de sac

Accessible

Other: Yes

Air Conditioning

Wall Unit(s): Yes

Amenities Unit

Balcony: Yes
Ceiling Fan(s): Yes
Paneled Doors: Yes
Patio: Yes
Tile Floors: Yes

Appliances

Range: Yes
Refrigerator: Yes

Assumable Loan

Not Assumable: Yes

Construction Materials

Block: Yes
Frame: Yes

Construction Status

Previously Owned: Yes

Existing Financing

Free and Clear: Yes

Exterior

Brick/Stone: Yes
Stucco: Yes

Fencing

None: Yes

Flooring

Carpet: Yes
Luxury Vinyl Plank: Yes
Tile: Yes

Foundation

Concrete Block: Yes
Slab: Yes

Fuel

Electric: Yes

Heating

Baseboard: Yes

Lock Box Type

None: Yes

Lot Description

Tree Coverage - Light: Yes

Owner Pays

Insurance: Yes
Lawn: Yes
Repairs: Yes
Snow Removal: Yes
Taxes: Yes
Trash Collection: Yes
Water: Yes

Patio, Porch and Deck Features

Deck: Yes
Patio: Yes

Pool Description

None: Yes

Rental License Type

Standard: Yes

Road Frontage

City Street: Yes

Road Responsibility

Public Maintained Road: Yes

Roof

Age 8 Years or Less: Yes
Age Over 8 Years: Yes
Asphalt Shingles: Yes
Flat: Yes
Pitched: Yes

Sewer

City Sewer/Connected: Yes

Stories

Three Or More: Yes

Topography

Sloped: Yes

Wall Description

Drywall: Yes

Water

City Water/Connected: Yes

Window Features

Double Pane Windows: Yes

No. of Ranges

One Per Unit: Yes

No. of Refrigerators

One Per Unit: Yes

Tenant Pays

Broadband: Yes
Electricity: Yes
Heat: Yes

On Site Utilities

Electric Separate: Yes
Heating Separate: 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

Listing Office: Apartment Cash Flow, Inc.

Last Updated: August - 23 - 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.

, South Saint Paul, MN 55075 (MLS# 7131978)