591 Payne Avenue, Saint Paul, MN 55130

Property Description

This property is part of a 5-property portfolio, offering 4 single-family homes and 1 duplex in the Payne/Phalen and Dayton's Bluff neighborhoods. MLS #s available upon request. List price reflects the standalone value; portfolio purchase offers approximately an 8% discount, with a total portfolio price of $1,285,000 and an estimated 10% CAP based on current information. It speaks for itself that this is a well cared for duplex when both units have been rented for years on end, one side for 9 years! Both units are currently leased on a month-to-month basis for base rents of $1634 and $1481. Both are vacating at the end of May, making it possible that the seller would consider an owner-occupant buyer, with the understanding that the home could use some improvements and that it is being sold as-is. These units are configured as 3 bed/1 bath and 3 bed/2 bath with the 3rd bedrooms' closets adjacent to the rooms (right side 3rd bedroom is non-confirming by just a few sqft). The basements are separate with its own utilities and private laundry for each unit. One newer boiler. Separate driveways and one car garages for each unit (old barn doors). Fenced backyards.