1024 Ross Avenue, Saint Paul, MN 55106
Terrys Add · Ramsey County
Key Facts
Description
A rare chance to acquire a modern, fully occupied multifamily building (built 2004) in Saint Paul with strong, immediate positive cash flow and built-in upside potential. Price includes adjacent, vacant lot at 1020 Ross Ave, which currently serves as tenant green space and garden. 5 rented units currently generating income — all units are leased with long-term, reliable tenants in place, providing stable monthly cash flow from day one. Proven performer: The building is in excellent condition for its age, with identical or near-identical layouts (most units ~1,000 sq ft, 2 bed/1 bath), minimizing maintenance surprises and appealing to a wide tenant pool. Significant value-add opportunity: Configure and add a sixth unit to boost rental income and overall NOI substantially — ideal for an investor looking to increase returns through light renovations or reconfiguration (buyer to verify feasibility with city permitting). Modern construction advantages: Built in 2004 (6,048 sq ft total), offering lower capex compared to older properties, better energy efficiency, and stronger tenant retention. Prime East Side location: Convenient access to amenities, employment centers, transit, and downtown Saint Paul, supporting consistent occupancy and rent growth potential in a steadily appreciating market. This property delivers immediate positive cash flow from 5 occupied units while offering clear upside to add a sixth unit for enhanced yields. Fully turnkey with tenants in place — perfect for portfolio expansion.
Property Information
Property Type
Commercial Sale
Year Built
2004
Lot Size
0.11 acres
Lot Dimensions
38 x 172 x 38 x 172
Zoning
Residential-Multi-Family
Days on Market
40
MLS® Listing#
7036265
Property Features
Exterior
Appliances
Cooling
Heating
Flooring
Basement
Parking
Patio
Fencing
Lot Features
Construction
Foundation
Roof
Windows
Sewer
Water Source
Financial Details
Annual Taxes
$10,100
Parcel Number
282922340019
Directions
Keep right at United States Highway 52 E/I-94 E/US-52 E/US-12 E about 0.8 mi, less than 1 min Take exit 243 on the left onto 6th St E about 0.3 mi, less than 1 min Keep straight on at 6th St E toward Metro State Univ 0.5 mi, about 2 min Bear left at Arcade St Turn right
Affordability Calculator
$123,800
Estimated monthly payment
$3,295/mo
Principal $495,200 · Est. interest $690,848 over 30 yrs
Neighborhood Market Statistics
How this home compares to active listings in Saint Paul, MN
- $342,600
- Median Listing Price
- 90
- Median Days on Market
- 1,781
- Median Sq Ft
- $193
- Median Price / Sq Ft
- 3,084
- Active Listings
- This home’s price is 81% above the area median.
Market statistics compiled from active EXIT Realty® and MLS listings in Saint Paul, MN.
Location
Points of Interest in Saint Paul, MN
Showing the Saint Paul area map.
Nearby Schools
Bethlehem Lutheran Church LCMS
Elementary · 0.4 mi away
Step Academy
School · 0.5 mi away
Brittany's Place
School · 0.6 mi away
Early Ed John A. Johnson
School · 0.6 mi away
American Indian Magnet School
Elementary · 0.6 mi away
Txuj Ci Hmong Language and Culture Lower Campus
Elementary · 0.6 mi away
St John Lutheran School
School · 0.6 mi away
Farnsworth Aerospace Upper
Secondary · 0.7 mi away
Saint Paul Public Schools
School · 0.7 mi away
Letoile du Nord French School
School · 0.7 mi away
Concordia Creative Learning Academy
School · 0.7 mi away
Life Prep School
Elementary · 0.7 mi away
Hope Community Academy
Elementary · 0.8 mi away
Dayton's Bluff Elementary School
Elementary · 0.9 mi away
Early Education Daytons Bluff
School · 0.9 mi away
Dayton's Bluff Ecfe Advisory Council
School · 0.9 mi away
City Academy
School · 1.0 mi away
Saint Paul Public Schools
Elementary · 1.1 mi away
Lao Family English School
School · 1.1 mi away
Harding High School
Secondary · 1.2 mi away
Commute Calculator
Nearby Homes
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| Address | Price | Beds | Baths | Sq Ft |
|---|---|---|---|---|
| 2100 Wentworth Avenue, South Saint Paul, MN | $450,000 | 8 | 4 | 4,839 |
| 572 Ottawa Avenue, Saint Paul, MN | $455,000 | 8 | 2 | 4,462 |
| 810 Atlantic Street, Saint Paul, MN | $460,000 | 8 | 4 | 3,043 |
| 861 Burr Street, Saint Paul, MN | $475,000 | 8 | 4 | 5,496 |
| 1204 E 7th Street, Saint Paul, MN | $489,000 | 10 | 4 | 3,200 |
| 525/527 8th Avenue N, Saint Cloud, MN | $495,000 | 8 | 4 | 2,288 |
Moving Cost Estimate
EXIT Agents in Saint Paul
Listing Courtesy: Minnesota Realty Guide, LLC - 6513361035
Presented by: James L Bromenschenkel