Listed By
Agency Name: Keller Williams Realty Integrity Lakes
Agency Phone: 612-821-7400
Shown By
Agent Name: Jean Menge
Agent Phone: (763) 360-4545
Agency Title: Counselor Realty
Property Description
A strong investment opportunity in one of Saint Paul's high-demand rental corridors. This newly renovated4-unit mixed-use property sits on a rare double lot and offers excellent cash flow potential withadditional upside through below-market rents. The property is Section 8 approved and enrolled in the City of Saint Paul's 4-D Affordable Housing Program, providing valuable property tax reductions and long-term affordability incentives.The asset features a versatile mixed-use zoning configuration that includes both a commercial garagespace and a traditional residential garage, creating flexibility for owner-operators, small businesses,contractors, storage income, workshop use, or additional tenant amenities. Investors also have the option to maintain the property as a fully residential income-producing asset.The building has undergone substantial renovations and stabilization, making it a turnkey opportunity forinvestors seeking immediate cash flow with long-term appreciation potential. Spacious units, strongrental demand, and flexible lease structures provide multiple operational strategies for futureownership.The oversized lot includes a shared backyard with patio space, green space, and garden potential, adding lifestyle appeal for tenants. Located along the vibrant Payne Avenue corridor, the property is walkable to neighborhood staples including Yarusso Bros, Minnesota Music Cafe, local restaurants, retail, parks, and the Bruce Vento Regional Trail.Motivated seller. Excellent opportunity for investors seeking a stabilized multifamily asset withmixed-use flexibility, tax advantages, and future upside in a rapidly improving East Saint Paul market.
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661 Payne Avenue , Saint Paul, MN 55130
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$ 3,012.54 per month $2,661.21 Principal & Interest $205.50 Property Tax $145.83 Homeowner's InsuranceChange Payment Information
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661 Payne Avenue , Saint Paul, MN 55130
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Agency License Information: Counselor Realty, Inc. is licensed in Minnesota and Wisconsin; Counselor Realty, Inc. of Alexandria is licensed in Minnesota; Counselor Realty Detroit Lakes, LLC is licensed in Minnesota; Counselor Realty of Rochester is licensed in Minnesota; Counselor Realty of Victoria, LLC is licensed in Minnesota; Counselor Realty of Brainerd is licensed in Minnesota.
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661 Payne Avenue | MLS# 7068786
This multi-family property located at 661 Payne Avenue , Saint Paul, MN 55130 is currently listed for sale with an asking price of $499,999. Payne Avenue is located within the St. Paul school district. Search Saint Paul real estate on jmenge.counselorrealty.com today.