890 Payne Avenue Saint Paul, MN 55130
Other
MLS #: 6808073
Courtesy Of Keller Williams Premier Realty
Property InformationDescription
890 Payne Ave is a value-add mixed-use opportunity in Saint Paul s Payne-Phalen corridor offering income today and upside through stabilization. The property features one street-level commercial space (laundromat) plus four apartments (three 1BR units and one studio). Current operations generate $70,680 in effective gross income with NOI of approximately $36,382, and the market pro forma projects about $79,080 in effective gross income with NOI increasing to roughly $44,782 (about +23%), assuming expenses remain near current levels (~$34,298/year). The sale also includes the B2-zoned lot at 648 York Ave (~4,836 SF), adding valuable optionality for off-street parking, signage, storage, or future expansion potential (subject to city approvals).
Features
- Age: Over 50 Years Old
- Architecture Style: Other
- Legal Description: CHAS WEIDES SUB OF B34 ARLING N 35 FT OF S 7O FT OF LOTS 14 AND LOT 15 BLK 34
- MLSID: 6808073
- Rooms: Bedroom 3
- Rooms: Bedroom 2
- Rooms: Bedroom 1
MAP & DIRECTIONS
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