523 Lexington Pkwy N Active Save Request In-Person Tour Request Virtual Tour
Saint Paul,MN 55104
Key Details
Property Type Condo
Sub Type Apartment
Listing Status Active
Purchase Type For Sale
Subdivision Sanborns Midway Addition, To S
MLS Listing ID 6659875
Year Built 1922
Annual Tax Amount $11,434
Tax Year 2025
Contingent None
Lot Size 8,276 Sqft
Acres 0.19
Lot Dimensions 60 x 140
Property Sub-Type Apartment
Property Description
CLASSIC ALL BRICK 6-UNIT LOCATED IN THE HEART OF THE MIDWAY IN SAINT PAUL, MN. THIS BUILDING IS VERY CLEAN AND VERY WELL MAINTAINED BY THE CURRENT LONG TERM OWNER! THERE ARE FOUR ONE-BEDROOM AND ONE EFFICIENCY APARTMENTS, PLUS A MAIN FLOOR OFFICE COMMERCIAL SPACE. THE OFFICE UNIT HAS POTENTIAL TO BE CONVERTED INTO ANOTHER ONE BEDROOM APARTMENT OR COMBINED WITH THE APARTMENT NEXT DOOR. ALL THE UNITS ARE EASY TO KEEP RENTED WITH PROVIDED OFF-STREET PARKING AND HEAT, WATER, AND TRASH INCLUDED IN RENT. EACH TENANT PAYS FOR THEIR OWN SEPARATE ELECTRIC SERVICE. THE PITCHED ROOF HAS BEEN REPLACED IN THE LAST 12 YEARS AND HAS BEEN RECENTLY CHECKED FOR STORM DAMAGE WHICH THERE IS NONE. THERE IS ORIGINAL HARDWOOD FLOORS AND TRIM THROUGHOUT THE PROPERTY WHICH GIVES IT CHARACTER FROM WHEN IT WAS BUILT IN 1922. THE OFF-STREET PARKING LOT IN THE REAR GIVES RESIDENTS A SAFE PLACE TO PARK. THE LOWER LEVEL BASEMENT HAS ADDITIONAL POTENTIAL TO IMPROVE INCOME BY ADDING RENTABLE STORAGE UNITS OR ANOTHER 7TH UNIT. CURRENTLY 100% OCCUPIED. A NEW OWNER CAN RAISE RENTS ON LEASE RENEWALS TO CAPTURE A HIGHER RETURN ON INVESTMENT! THE SELLER WOULD CONSIDER AN OFFER WITH OWNER FINANCING!! $579,900.00
Location
State MN
County Ramsey
Zoning Residential-Multi-Family
Rooms
Basement Full
Interior
Heating Boiler
Cooling Window Unit(s)
Inclusions Building,Land,Leases,Rental License
Fireplace No
Appliance Range,Refrigerator
Exterior
Parking Features Parking Lot
Utilities Available Electric Separate,Heating Common,Hot Water Common
Present Use Office,Residential
Building
Foundation 2200
Sewer City Sewer/Connected
Water City Water/Connected
Structure Type Brick/Stone
Schools
School District St. Paul