262 4th Street E

Lowertown Saint Paul value add multifamily! An existing 29 unit, 27 residential/2 commercial unit mix. Residential units are loft style mostly 1 bed unit, however, it has potential to be turned into 41 units, and almost double the bedroom count due to the size and uniqueness of units. Known as an Artist loft building, art exudes the building and attracts great tenants in an amazing location, walk to all the best downtown spots. Tenants pay utilities through RUBs. All apt leases are MTM. District Energy heat. Tax Credits remaining and in Opportunity Zone. Commercial units on long leases. EPDM Roof, in good condition, per report. In place 6.53 cap rate.