49 Manitoba Ave
Saint Paul, MN 55117 South of Maryland

$5,378,000 USD

Apartments For Sale • 2,032 SF

Property Details

Property Type Apartments
Total Building Size 2,032 SF
Lot Size 0.11 AC
Building Class C
Year Built 1925
Zoning Residential

0 Transit Score

62 Walk Score

                
                    Highlights
                
                                Stabilized 17-property portfolio with 35 residential units in St. Paul.
                            
                                Predictable income tied to HUD AMI guidelines, insulated from market volatility.
                            
                                Opportunity for rent growth with transition from 50% to 60% AMI post-2028.
                            
                                Reduced property taxes under 4D Affordable classification and rent control exemption.
                            
                                Projected 2026 NOI of $188,452 with strong operating history and City-backed program continuity.
                            
                                Saint Paul HRA is considering carrying back a 2nd position low interest loan of $3,300,000 for this package.