About English Street Apartments
Cushman & Wakefield is pleased to present for sale, English Street Apartments (the “Property”), a 34-unit value-add multifamily opportunity in the Dayton’s Bluff neighborhood of St. Paul, Minnesota’s state capital.
The Property is centrally located off Interstate 94 on the east side of the Mississippi River in the southeast part of the city just minutes from Downtown St. Paul. The Property has access to major freeways, plenty of shops, restaurants, parks, and local businesses nearby as well as major employment centers in both Downtown St. Paul and Downtown Minneapolis.
English Street Apartments have been well-maintained, can be acquired at a significant discount to replacement cost, and offer an investor the opportunity to implement a value-add program. In addition, future ownership has the option to enter the 4d Affordable Housing Incentive Program which offers rental owners one-time administrative grant assistance as well as 10-year qualification to the “4d” property tax classification for rental units preserved for low/moderate-income households for that same period. This 4d, or “low income rental” classification (“LIRC”) provides for up to a 40% reduction in those 4d units’ assessed rate assessed to the portion of units committed to 4d preservation.
For loan quotes, contact a Greystone Team Member:
Managing Director | Greystone
Relationship Manager | Greystone