1024 Ross Avenue, Saint Paul, MN 55106

Property 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.