Capitol Hill Aparments
6 Units
Executive Summary
- Property Type Multifamily
- Site Size 6,534 SF
- Units 6
- Year Built 1965
- Zoning CA, Capital Area Jurisdiction
- Parking Street
- Electric Metering Separate
- 4D Participant? No
- Occupancy 100%
- County PID 312922220066
- Unit Mix 2-1BR, 4-2BR
- Laundry Shared In Common Area
Investment Overview
The Capitol Hill 6 – 609 Park Street is a six-unit multifamily asset in St. Paul, MN, showcasing true pride of ownership. The property has undergone extensive upgrades within the past 5 years, including a new roof and soffit, fresh exterior paint, and complete interior renovations across all units. Each apartment features a modern kitchen with updated finishes, upgraded bathrooms with new tile, vanities, and stone countertops, and comfortable layouts with large living rooms and eat-in kitchens.
The building’s stucco and brick exterior is in flawless condition, and residents benefit from off-street parking with dual entry/exit access on both Park and Winter Streets. Systems are efficient, with one main boiler and baseboard heating, and each unit is has in-wall air conditioning.
Currently 100% occupied, the asset delivers steady in-place cash flow, while bringing rents to market rate provides meaningful upside for investors. Additionally, there is an opportunity to enroll the property in the Ramsey County 4D Affordable Housing Program, which can significantly reduce property taxes while maintaining strong operational performance.
Located in St. Paul’s Capitol Hill neighborhood, near employment centers, transit, and community amenities.
Property Highlights
609 Park Rent Roll
Property Details
Rent Roll
| Unit | Monthly Rent |
|---|---|
| 1 | $970 |
| 2 | $970 |
| 3 | $1,200 |
| 4 | $1,200 |
| 5 | $1,200 |
| 6 | $1,200 |