Investment Overview

Marcus & Millichap is pleased to announce the exclusive listing of Birmingham Heights, a 28-unit property located within the Greater East Side Neighborhood of Saint Paul, Minnesota. Birmingham Heights is being offered for sale on a free-and-clear basis. Constructed in 1983, this apartment community is comprised of 11 buildings including seven residential & four garage structures. Situated on 2.04 acres, Birmingham Heights is conveniently located 3.5 miles east of Downtown Saint Paul. The unit mix is made up entirely of three-bed/one-bathroom units ranging in size from 960 to 1,058 square feet. Garages consist of 16 detached spaces and 8 tuck-under stalls. The buildings are heated by in-unit gas furnaces and cooled by A/C wall units. Additionally, each building includes laundry facilities, storage lockers, off-street parking, and patios or balconies. Most apartment homes have been updated since 2016 and every unit has received as-needed updates during turnovers. These updates include new flooring, countertops, cabinets, and appliances. Furthermore, metal roofs were installed in 2017/2018 on all buildings. Birmingham Heights is located in the Greater East Side neighborhood of Saint Paul, just minutes from the Saint Paul Central Business District. Nearby sits the downtown Saint Paul Airport (4.3 miles), Metropolitan State University campus (3.3 miles), and 3M headquarters (3.4 miles). The Greater East Side neighborhood is the second district of Saint Paul and is among the city’s most populous and diverse neighborhoods. It is known for its cuisine and culture, being dubbed as “Saint Paul’s Eat Street”. Residents of Birmingham Heights take advantage of the many shops, restaurants, schools, and parks nearby. Less than 1 mile away sits Ames Lake Park (0.8 miles), Baldinger Bakery (0.9 miles), and Hazel Park Recreation Center (1.0 mile). Additionally, the apartment community is in close proximity to Phalen and Keller Lake Regional Parks, and the Mississippi River which provide a variety of multi-seasonal activity options in the immediate area. 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.