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1922 Wilson Ave

12 Unit Block of Flats £2,229,983 (£185,832/Unit) 7.02% Net Initial Yield Saint Paul, MN 55119

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Investment Highlights

NEWLY BUILT IN 2021
KITCHENS ALL HAVE STAINLESS STEEL AND GRANITE COUNTERS
PLENTY OF OFF-STREET PARKING

LARGE 1,541 SQFT ALL 3BD, 2BD APARTMENTS
ADDITIONAL INCOME WITH 2ND & 3RD FLOOR LAUNDRY FACILITIES

Executive Summary

THE EASTVIEW APARTMENTS LOCATED IN THE HEART OF SAINT PAUL IS CLOSE TO DOWNTOWN AND THE SUBURBS OF OAKDALE, WOODBURY & MAPLEWOOD. EASY ACCESS TO HIGHWAYS 94 & 494. NEWLY CONSTRUCTED IN 2021, THIS MULTI-FAMILY ASSET OFFERS RESIDENTS LARGE THREE-BEDROOM, TWO BATHROOM UNITS DESIGNED FOR MODERN LIVING! EACH UNIT IS APPROXIMATELY 1,541 SQFT AND FEATURES STAINLESS STEEL APPLIANCES, QUARTZ COUNTERTOPS, AMPLE CLOSET SPACE, AND SELF-CONTROLLED HIGH-EFFICIENCY HEATING AND AIR CONDITIONING. WITH CONTROLLED ACCESS ENTRY, SECURITY CAMERAS IN COMMON AREAS, AND OFF-STREET PARKING, EASTVIEW APARTMENTS ENSURES A SECURE AND STRESS-FREE RENTING EXPERIENCE FOR ITS RESIDENTS. CLOSE TO TONS OF SHOPPING, SCHOOLS, PLAYGROUNDS, ENTERTAINMENT VENUES, AND THE CONWAY RECREATION CENTER. PROFESSIONALLY MANAGED WITH THE POSSIBILITY TO RETAIN THEM FOR FULL MANAGEMENT DUTIES. VERY STABLE, FULLY OCCUPIED, AND IN TURN KEY CONDITION!! THIS PROPERTY MAKES FOR THE PERFECT 1031 EXCHANGE OUT OF A SMALLER ASSET!! SITS ON 0.73 ACRES AND INCLUDES 16 OFF-STREET PARKING SPACES. LAUNDRY FACILITIES LOCATED ON THE 2ND AND 3RD FLOORS HAVE 12 COIN-OPERATED SPEED QUEEN MACHINES. CURRENT CAP RATE IS 7.02% AND IN-PLACE NET OPERATING INCOME $200,043+

1922 Wilson 12 units $2.85M

Financial Summary (Pro forma - 2024)	Annual	Annual Per SF
Gross Rental Income	£223,446	£12.08
Other Income	£16,291	£0.88
Vacancy Loss	£5,934	£0.32
Effective Gross Income	£233,802	£12.64
Taxes	£33,184	£1.79
Operating Expenses	£44,093	£2.38
Total Expenses	£77,277	£4.18
Net Operating Income	£156,525	£8.46

Financial Summary (Pro forma - 2024)

Gross Rental Income
Annual	£223,446
Annual Per SF	£12.08

Other Income
Annual	£16,291
Annual Per SF	£0.88

Vacancy Loss
Annual	£5,934
Annual Per SF	£0.32

Effective Gross Income
Annual	£233,802
Annual Per SF	£12.64

Taxes
Annual	£33,184
Annual Per SF	£1.79

Operating Expenses
Annual	£44,093
Annual Per SF	£2.38

Total Expenses
Annual	£77,277
Annual Per SF	£4.18

Net Operating Income
Annual	£156,525
Annual Per SF	£8.46

Property Facts

Price	£2,229,983	Apartment Style	Low Rise
Price Per Unit	£185,832	Building Class	B
Sale Type	Investment	Lot Size	0.73 AC
Net Initial Yield	7.02%	Building Size	18,494 SF
Sale Conditions	REO Sale	Average Occupancy	100%
Gross Rent Multiplier	9.53	Number of Floors	3
No. Units	12	Year Built	2021
Property Type	Residential	Parking Ratio	0.87/1,000 SF
Property Subtype	Apartment Multifamily Dormitory	Opportunity Zone	Yes State officials designate a portion of qualified Census Tracts to be Opportunity Zones. Certain investments in Opportunity Zones may be eligible for preferential tax treatment.

Price	£2,229,983
Price Per Unit	£185,832
Sale Type	Investment
Net Initial Yield	7.02%
Sale Conditions	REO Sale
Gross Rent Multiplier	9.53
No. Units	12
Property Type	Residential
Property Subtype	Apartment Multifamily Dormitory
Apartment Style	Low Rise
Building Class	B
Lot Size	0.73 AC
Building Size	18,494 SF
Average Occupancy	100%
Number of Floors	3
Year Built	2021
Parking Ratio	0.87/1,000 SF
Opportunity Zone	Yes State officials designate a portion of qualified Census Tracts to be Opportunity Zones. Certain investments in Opportunity Zones may be eligible for preferential tax treatment.

Unit Amenities

Air Conditioning
Cable Ready
Dishwasher
Washer/Dryer

Heating
Ceiling Fans
Granite Countertops

Ice Maker
Oven
Sprinkler System

Carpet
Double Pane Windows
Island Kitchen

Site Amenities

Controlled Access
Laundry Facilities

Gas Range
Bicycle Storage

Public Transportation

Fiber Optic Internet

Unit Mix Information

Description	No. Units	Avg. Rent.Mo	SF
3+2	12	£1,639	1,541

PROPERTY TAXES

Parcel Number	35-29-22-31-0037	Total Assessment	£1,825,143 (2023)
Land Assessment	£187,788 (2023)	Annual Taxes	£33,184 (£1.79/sf)
Improvements Assessment	£1,637,355 (2023)	Tax Year	2024 Payable 2024