Saint Paul, MN - 195 Lexington Pkwy N - 13 UNITS - $1,495,000

This is a unique opportunity to acquire thirteen well-appointed apartments located in the heart of the Summit University and Union Park neighborhoods of Saint Paul, Minnesota.  Stunning curb appeal, featuring 100% all brick and stone exterior.  All the roofs have recently been replaced in 2021.  The unit mix is all one bedroom, one bath with original oak hardwood floors and trim.  Newer hot water boiler system and water heaters.  Large double corner lot with over 0.35+ acres, twelve detached garages and a patio area for residents.  This asset is the perfect property to buy in your 1031 IRC Tax Exchange!!

The neighborhood is centrally located and offers numerous restaurants, coffee shops, and parks, such as Linwood, Merriam, Iris, Cathedral Hill, and Western Sculpture Parks. Highly walkable with great access to public transportation along Lexington and the University METRO Green Line light rail. Just north of the historic Summit avenue with affluent mansions, churches, and colleges.

Property Facts

  • Year Built: 1921

  • Square Footage: 10,560

  • Units: 13

  • Zoning: Multiple-family District

  • Parking: 12 Garage Stalls Plus Off-Street Parking Spots

  • Exterior: Brick

  • Heating: Hot Water Boiler New in 2021

  • Roof: Flat Rubber Roof - New installed in 2021

Unit Description

  • 13 - 1 bedroom, 1 bath - Approx. 630+ Sqft.

Property Improvements

  • 2021: New High-Efficiency Water Heater

  • 2021: New Weil McLain Hot Water Boiler

  • 2021: Roof - Rubber Roof with 15-year warranty

  • 2021: Resurfaced Asphalt Parking Lot

Price: $1,495,000