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  • 981 Thomas Ave

  • St. Paul, MN 55104
  • Neighborhood: D W Moores Add
  • $725,000
  • 4,800 SqFt
  • $151.04 / SqFt
  • MLS® #: 5296835
  • Year Built: 1959
  • Days Listed: 28
Commercial property for sale in St. Paul, MN at 981 Thomas Ave. This property is priced at $151/sqft.

Description of 981 Thomas Ave, St. Paul, MN 55104 - $725,000

Opportunity to own 2 apartments with a total of 15 units and 27 total bedrooms across the street from each other. High demand area due to the proximity of the light rail. Rental demand increases yearly and even with scheduled $50/month increases scheduled, the open market rents would be much higher. Both are solid buildings with many of the maintenance items completed so you can enjoy years of trouble free ownership. ON-site caretaker in place. Opportunity to add nearly $10,000 per year to NOI by participating in the 4 (d) Affordable Housing Incentive with a property reduction. Current rents are well within the requirements.Thomas new roof in 2013. new plumbing shut offs, new gas stoves, 3 car garage and coin op laundry (Approximately $1,800 in extra income).

Essential Information

  • MLS® #5296835
  • Price$725,000
  • Square Footage4,800
  • Acres0.20
  • Year Built1959
  • TypeCommercial
  • StatusActive

Community Information

  • Address981 Thomas Ave
  • AreaThomas-Dale (Frogtown)
  • SubdivisionD W Moores Add
  • CitySt. Paul
  • CountyRamsey
  • StateMN
  • Zip Code55104


Electric Common, Electric Separate, Hot Water Common


  • ExteriorStucco
  • Foundation2400

School Information

  • District625 - St. Paul


Apartments/Multi Family, Low Rise


  • # of Garages3


Detached Garage, Uncovered/Open, Driveway - Asphalt, Paved Lot

Lot Description

Corner Lot, Tree Coverage - Medium

Additional Information

  • Listing OfficeColdwell Banker Burnet
  • Date ListedSeptember 23rd, 2019
  • Days on Market28
  • ZoningResidential-Multi-Family


Apartments/Multi Family, Low Rise


Natural Woodwork, Kitchen Window, Hardwood Floors, Tiled Floors


  • AppliancesRange, Refrigerator
  • HeatingHot Water, Boiler
  • CoolingWindow


Asphalt Shingles, Age 8 Years or Less

Kris LindahlREALTOR®

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The data relating to real estate for sale on this site comes in part from the Broker Reciprocity program of the Regional Multiple Listing Service of Minnesota, Inc. Real Estate listings held by brokerage firms other than Kris Kindahl - Real Estate are marked with the Broker Reciprocity logo or the Broker Reciprocity house icon and detailed information about them includes the names of the listing brokers. Kris Kindahl - Real Estate is not a Multiple Listing Service MLS, nor does it offer MLS access. This website is a service of Kris Kindahl - Real Estate, a broker Participant of the Regional Multiple Listing Service of Minnesota, Inc.

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Listing information last updated on October 21st, 2019 at 2:20am CDT.