485 Belvidere Street E,Saint Paul, MN 55107
Saint Paul, MN 55107
Description
4-plex on St. Paul's West Side. Potential owner-occupant opportunity with one unit becoming vacant at the end of June. Located in a tucked-away residential block with easy access to downtown, West Side Flats, and District del Sol. Near parks, restaurants, and transit. Two 2BR/1BA and two 1BR/1BA units, 2,950 SF total. All four tenants on signed leases (mid-2026 through mid-2027) with rents raised during the most recent lease-up cycle. Current rents still sit below market ceiling, leaving room on renewals. Tenants pay gas and electric; landlord covers water/sewer and trash. Enrolled in St. Paul's 4d Affordable Housing Incentive Program, featuring up to 80% reduction in property tax class rates. The covenant transfers with the property, with estimated annual savings of $4,600+ over standard rates. Two units turned over in mid-2025 and were re-leased at meaningfully higher rents. The recent turnover cycle is complete; all four units are performing well with no deferred maintenance carried over. Priced under $500k with a low tax basis, strong occupancy, and cash flow in place. This is a rare combination to find in St. Paul's current market.
Details
| MLS # | 6823925 |
|---|---|
| Listing Type | For Sale |
| Sub-Type | Resale |
| Status | Active |
| Year | 1893 |
| Days On Site | 209 |
| Listing Provided By | MRG Realty Partners, LLC | Nathan Schammel |
Features
| Bed(s) | 6 |
|---|---|
| Bath(s) | 4 |
| SQ Feet | 3,600 |
| Basement | Y |
| Story(s) | 2 |
| Units | 4 |
| Zoning | Residential-Multi-Family |
| Acreage | 0.11 |
Interior
| Heating | Baseboard |
|---|
Exterior
| Roof | Age Over 8 Years, Asphalt |
|---|
Parking
| Parking Features | Parking Lot |
|---|
Taxes
| Property | 1703 |
|---|
Area Information
| State | MN |
|---|---|
| County | Ramsey |
| City | Saint Paul |
| Zip Code | 55107 |
| Area | 104 |
| Community Name | Paul Martins 1st Addition, To |
| School District | 625 |
| High School | St. Paul |
| Listing VS Median (in Paul Martins 1st Addition, To) | |
Price: $425,000 low | high Med: $0 On site: 209 low | high Med: | |
Market Activity 55107
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Learn More About This Property
| State | MN |
|---|---|
| County | Ramsey |
| City | Saint Paul |
| Zip Code | 55107 |
| Area | 104 |
| Community Name | Paul Martins 1st Addition, To |
| School District | 625 |
| High School | St. Paul |
| Listing VS Median (in Paul Martins 1st Addition, To) | |
Price: $425,000 low | high Med: $0 On site: 209 low | high Med: | |