About 394 Pierce Street N
Investors who have been looking for a clean, cashflowing property, this may be just what you've been looking for! This well maintained 7 unit building is an easy to operate, easy to manage investment at a price that is hard to find in today's market.
All seven one bedroom units are occupied, six of the seven residents have been in place for more than two years, and there has been no turnover in the past twelve months. The seller has invested thousands in upgrades, including a new boiler in 2024 and an updated water heater in 2022. Leases already include utility chargebacks for water, sewer, and trash, putting roughly $3,000 per year back on the bottom line.
There is also untapped income sitting on the table. Parking and storage are currently offered at no charge, and rents average under $900 against a market in the $970 to $1,050 range.
A buyer willing to put in a little work on marketing and presentation, professional photos and floor plans are already on file, has real income upside waiting to be captured.
The location could not be more convenient. Centrally positioned between the downtowns, roughly 10 minutes to downtown St Paul and 15 minutes to downtown Minneapolis, just north of I-94, and about a 5 minute walk (0.3 miles) to the Green Line's Snelling Avenue Station.
The A Line rapid bus and local routes on Snelling and University are a short walk away, and Allianz Field, Hamline University, and the Midway's shopping and restaurants are all close by.
A cared for building with dependable income today and real upside for the buyer ready to roll up their sleeves and capture it.
