108 Pierce Street
Just Listed | The Walker Apartments | Professionally Owned & Managed
Marketing description
Marcus & Millichap, as the exclusive listing agent, is pleased to present the opportunity to acquire The Walker Apartments.
The Walker Apartments is situated in the desirable Merriam Park East neighborhood of Saint Paul. Originally constructed in 1921, the property features a unit mix of one efficiency, one studio, and eight one-bedroom units, offering a practical and versatile layout that appeals to a broad tenant base. The property has benefited from long-term ownership and attentive management that has taken pride in maintaining and improving the asset over time, creating a strong sense of care and stability throughout the property.
Units average approximately 643 square feet, with current rents averaging $1,099 per month. The apartments blend classic architectural character with functional living spaces, featuring tall ceilings, strong natural light, hardwood flooring, ample closet space, and updated kitchen finishes. Additional
highlights include gas ranges, on-site laundry, and tenant storage, enhancing overall resident convenience and appeal.
Ownership has completed several meaningful capital improvements, including new soffit and gutters installed in 2025, replacement windows throughout the property in 2018, the addition of bathroom exhaust fans in all units in 2018, and a boiler replacement completed in 2011. These upgrades
reflect the quality management and ongoing investment that have contributed to the property’s strong physical condition.
The Walker Apartments benefits from close proximity to major educational institutions, including Concordia University, St. Paul, Macalester College, and University of St. Thomas. The location offers convenient access to neighborhood amenities, employment hubs, and public transit, supporting
consistent rental demand. With its attractive unit mix, desirable in-unit features, history of quality ownership, and strong location within Merriam Park East, The Walker Apartments represents a compelling investment opportunity in the Saint Paul multifamily market.
Investment highlights
- Located in the highly desirable Merriam Park East neighborhood of Saint Paul, offering strong rental demand driven by proximity to major universities, employment centers, transit, dining, and retail amenities.
- Well-maintained asset benefiting from attentive ownership and professional management that has consistently cared for and invested in the property over time.
- Attractive unit mix consisting of one efficiency, one studio, and eight one-bedroom apartments with an average unit size of approximately 643 square feet.
- Units feature classic architectural charm and functional living spaces, including hardwood flooring, tall ceilings, strong natural light, ample closet space, updated kitchen finishes, gas ranges, tenant storage, and on-site laundry.
- Significant capital improvements completed, including new soffit and gutters in 2025, replacement windows in 2018, bathroom exhaust fans added to all units in 2018, and boiler replacement in 2011.
- Conveniently located near Concordia University, St. Paul, Macalester College, and University of St. Thomas, supporting long-term occupancy and stable tenant demand.
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