Listed by MRG Realty Partners
$525,000
940 3rd St E
Details
APN 332922240204
Property Type Multifamily
Sub Type Apartment Building
Units 7
Beds 7
Occupancy 100%
Tenancy Multi
Pro-Forma Cap Rate 8.91%
Pro-Forma NOI $46,767
Class C
Year Built 1897
Year Renovated 1995
Buildings 1
Stories 2
Acreage 0.230
Zoning H2 Residential
Parking Spaces 10 spaces
Investment Type Value Add
Multifamily | 7 Units | $75,000/unit
Marketing description
940 3rd St E is a fully occupied 7-unit multifamily property located in St. Paul, MN. The property features a mix of 2-bedroom, 1-bedroom, and studio units with a proforma NOI of $46,767 and a proforma cap rate of 8.91%. The building is enrolled in the 4D tax program that reduces property taxes by up to 80%, providing significant tax savings. Recent improvements include a new hot water heater (2025), complete basement workshop area cleanout, dry wall repairs in stairwells, and unit updates throughout.
Call Luke at 651-428-7814 for more information and to schedule a private viewing.
Investment highlights
- $75,000 per unit with proforma cap rate of 8.91%
- Property updates throughout, including a new hot water heater (2025)
- Mix of 2-bed, 1-bed, and studio units totaling 7 units
- The property is enrolled in the 4D tax program that reduces property taxes by up to 80%
Listing Contacts
Listed by MRG Realty Partners
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Zoning
H2 ResidentialMulti FamilyResidential
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View all 41 uses Last updated May 9, 2026 For deeper zoning details, reports are available at Zoneomics
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