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Multifamily

1547 Wynne Ave

1547 Wynne Ave, Saint Paul, MN 55108

Listing Price: Request For Offer

Investment Overview

Marcus & Millichap is pleased to announce the exclusive listing of 1547 Wynne Avenue, a 10-unit property located within the Como Park Neighborhood of Saint Paul, Minnesota. Wynne Avenue Apartments is being offered for sale on a Contract for Deed and a free-and-clear-basis. Constructed in 1963, Wynne Avenue Apartments consists of one 10-unit building situated on 0.22 acres, and is conveniently situated between both Downtown Minneapolis (8.5 miles) and Downtown Saint Paul (4.6 miles). Wynne Avenue Apartments features 3 studio/one-bathroom units at 433 square feet, 5 two-bedroom/one-bathroom at 750 square feet, and 2 three-bedroom/one-bathroom units at 975 square feet. The building is equipped with a boiler and A/C wall units for heating and cooling. The above and beyond care for the property is apparent and a consistent pattern throughout the building. All apartment homes have been renovated since 2011, and have received continued as-needed updates as units turn. These updates include, but not limited to: flooring, counter tops, cabinets, appliances, and bathroom vanities. Additionally, the roof was replaced in 2020, the parking lot was redone in 2022, and an irrigation system (lawn) was installed in 2022. Tenants have access to on and off-street parking, garage parking, secured entry, and on-site laundry. Less than a mile away from the Minnesota State Fair Grounds, the neighborhood of Como Park is one of Saint Paul’s oldest and most popular neighborhoods. Known for its pedestrian-oriented shopping and dining experiences, the Como Park neighborhood gives its residents a multitude of options to keep them busy year-round. The neighborhood is home to Como Park Zoo and Conservatory, the only free zoo in the nation. With an abundance of green space, the neighborhood features Como Lake, Como Park Golf Course, a small amusement park, and a lakeside pavilion that hosts summer concerts. Living in Como offers residents an urban suburban mix feel and most residents own their homes. It includes one major college, Metropolitan State University, and multiple preparatory schools. Additionally, many major roadways, freeways, and the light rail system gives access to surrounding attractions. Snelling Avenue, Larpenteur Avenue, and Interstate 94 to name a few. This offering presents an opportunity to acquire a stable asset with favorable returns. The next owner can realize a strong ROI by increasing rents, managing expenses, and continuing to maintain the property with as-needed updates.

Investment Highlights

  • Available For First Time in Over a Decade | Well Maintained & Operated Asset | Pride of Ownership
  • Favorable Seller Financing Terms | Cash on Cash Return - Estimated 8% to 9% | Cap Rate Estimated 6%
  • All 10 Apartment Homes Have Been Renovated Since Acquiring in 2011

Exclusively Listed By

Multifamily

1547 Wynne Ave

Investment Highlights

  • Available For First Time in Over a Decade | Well Maintained & Operated Asset | Pride of Ownership
  • Favorable Seller Financing Terms | Cash on Cash Return - Estimated 8% to 9% | Cap Rate Estimated 6%
  • All 10 Apartment Homes Have Been Renovated Since Acquiring in 2011

Investment Overview

Marcus & Millichap is pleased to announce the exclusive listing of 1547 Wynne Avenue, a 10-unit property located within the Como Park Neighborhood of Saint Paul, Minnesota. Wynne Avenue Apartments is being offered for sale on a Contract for Deed and a free-and-clear-basis. Constructed in 1963, Wynne Avenue Apartments consists of one 10-unit building situated on 0.22 acres, and is conveniently situated between both Downtown Minneapolis (8.5 miles) and Downtown Saint Paul (4.6 miles). Wynne Avenue Apartments features 3 studio/one-bathroom units at 433 square feet, 5 two-bedroom/one-bathroom at 750 square feet, and 2 three-bedroom/one-bathroom units at 975 square feet. The building is equipped with a boiler and A/C wall units for heating and cooling. The above and beyond care for the property is apparent and a consistent pattern throughout the building. All apartment homes have been renovated since 2011, and have received continued as-needed updates as units turn. These updates include, but not limited to: flooring, counter tops, cabinets, appliances, and bathroom vanities. Additionally, the roof was replaced in 2020, the parking lot was redone in 2022, and an irrigation system (lawn) was installed in 2022. Tenants have access to on and off-street parking, garage parking, secured entry, and on-site laundry. Less than a mile away from the Minnesota State Fair Grounds, the neighborhood of Como Park is one of Saint Paul’s oldest and most popular neighborhoods. Known for its pedestrian-oriented shopping and dining experiences, the Como Park neighborhood gives its residents a multitude of options to keep them busy year-round. The neighborhood is home to Como Park Zoo and Conservatory, the only free zoo in the nation. With an abundance of green space, the neighborhood features Como Lake, Como Park Golf Course, a small amusement park, and a lakeside pavilion that hosts summer concerts. Living in Como offers residents an urban suburban mix feel and most residents own their homes. It includes one major college, Metropolitan State University, and multiple preparatory schools. Additionally, many major roadways, freeways, and the light rail system gives access to surrounding attractions. Snelling Avenue, Larpenteur Avenue, and Interstate 94 to name a few. This offering presents an opportunity to acquire a stable asset with favorable returns. The next owner can realize a strong ROI by increasing rents, managing expenses, and continuing to maintain the property with as-needed updates.

Exclusively Listed By

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