1631 Charles Avenue, St Paul, MN
$1,380,000
10,260
Square feet
0.17
Acres
About 1631 Charles Avenue
Charles Place apartments presents a unique value-add investment opportunity right in the heart of Saint Paul within walking distance to the newly built Allianz Stadium where the MN United soccer team plays! This whole Merriam Park neighborhood currently is in an opportunity zone and is getting transformed into a trendy and upscale destination. Take advantage of this opportunity to acquire 15 units, all-brick exterior, built in 1940 with original oak hardwood flooring and original doors and plaster coved ceilings. A newer Lochinvar Knight hot water boiler system was installed in 2012 and newer water heaters in 2010. The whole building received newer Andersen Series 100 windows in 2018. Electrical panels to each unit are on 60-amp breakers. All units are currently occupied and leased and ready for new owners to take over!! Stabilized with zero delinquencies and a current in place 7.32% Cap Rate!!
Features of 1631 Charles Avenue
| MLS® # | 6739015 |
|---|---|
| Price | $1,380,000 |
| Square Footage | 10,260 |
| Acres | 0.17 |
| Year Built | 1940 |
| Type | Commercial |
| Sub-Type | Apartment Building |
| Style | Apartment |
| Status | Active |
| Contingency Type | None |
Community Information
| Address | 1631 Charles Avenue |
|---|---|
| Area | Hamline-Midway |
| Subdivision | Stierle, Mcconville &, Seegers |
| City | St Paul |
| County | Ramsey |
| State | MN |
| Zip Code | 55104 |
Amenities
| Amenities | None |
|---|---|
| Garages | On-Street Parking Only |
| Is Waterfront | No |
| Has Pool | No |
Interior
| Appliances | Range, Refrigerator |
|---|---|
| Heating | Boiler, Hot Water |
| Cooling | Window Unit(s) |
| Fireplace | No |
| Has Basement | Yes |
| Basement | Daylight/Lookout Windows, Finished, Full, Concrete, Partially Finished |
Exterior
| Lot Description | Some Trees |
|---|---|
| Roof | Age Over 8 Years, Flat |
| Construction | Brick/Stone |
School Information
| District | St. Paul |
|---|
Additional Information
| Zoning | Residential-Multi-Family |
|---|---|
| Foreclosure | No |
| Short Sale | No |
| Taxes | $24,792 |
| Tax Year | 2025 |
| Office | Apartment Cash Flow, Inc. |
Listing Details
| Office | Apartment Cash Flow, Inc. |
|---|