1562 Edmund Avenue
100% Occupied 8-Unit Apartment Building in High-Demand | $90k/Unit Entry Point
Marketing description
1562 Edmund Avenue presents a premier opportunity to acquire a fully occupied, turnkey 8-unit apartment community situated in the heart of St. Paul's vibrant Hamline-Midway neighborhood. Offered at an accessible price point of $720,000 ($90,000/unit), this classic asset delivers immediate, stable cash flow from day one, serving as an ideal vehicle for both private capital investors seeking reliable yield and seasoned operators looking to expand their Twin Cities footprint.
Comprising 4,685 square feet of rentable area, the building features highly functional, easy-to-manage layouts that are perpetually in high demand. Tenants benefit from on-site, coin-operated laundry infrastructure located in the basement, while landlord expenses are streamlined by efficient utility structures. 5/8 Tenants pay for their own gas and electricity, the other 3 pay only for electricity.
Investment highlights
- Turnkey Cash Flow with 100% Occupancy: Immediate stability from day one with zero immediate lease-up friction in a historically low-vacancy St. Paul market.
- Attractive Low Basis Per Unit: Offered at just $720,000 ($90,000 per unit), presenting an excellent entry-level or portfolio-expanding multifamily asset well below replacement cost.
- Prime Transit & University Location: Situated in Hamline-Midway—just blocks from the Snelling Ave Light Rail Station, multiple bus lines, and minutes from Hamline University, Macalester College, and Concordia University.
- Strong Tenant Demand & High Walkability: Boasts a Walk Score of 89 and a Bike Score of 83, making it highly attractive to students, young professionals, and urban commuters.
- Proven Rental History: Consistently leased vintage-character building with shared coin-operated laundry facilities in the basement providing a reliable ancillary revenue stream.
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