Investment Overview

Marcus & Millichap, as the exclusive listing agent, is pleased to present the opportunity to acquire Ashland Avenue Apartments, a 12-unit multifamily community located at 934-42 Ashland Avenue, St. Paul Minnesota. Ashland Avenue Apartments is a 12-unit multifamily opportunity located in Saint Paul’s Summit - University neighborhood. The property is comprised of three neighboring buildings and offers a unit mix of eight two-bedroom and two three-bedroom residences. Originally built in 1904, the property combines historic character with a practical unit configuration that appeals to a wide range of renters seeking larger floor plans in a well-located urban setting. Across the portfolio, the residences average 1,304 square feet and average rents are $1,325 per month. A meaningful amount of renovation work was completed in the early 2000s, helping support the property’s continued operation and rental appeal. In addition, the exterior of the property is scheduled to be painted beginning June 10, with an estimated project cost of $33,500. The property sits on a combined 0.41-acre site and includes approximately 12 surface parking spaces and 1 garage space, providing tenants with valuable off-street parking accommodations. Ashland Avenue Apartments benefits from a convenient location with quick access to several major colleges and universities, including Concordia University, Saint Paul College, Macalester College, and the University of St. Thomas. Its proximity to these institutions, along with the surrounding neighborhood amenities and strong connectivity to the broader Saint Paul area, positions the property as an attractive investment opportunity with enduring renter demand.