Cushman & Wakefield is pleased to present for sale, Lofts on 4th Apartments. Lofts on 4th, located in the historic Lowertown Neighborhood of St. Paul, offers highly desirable loft-style apartments steps away from Union Depot, St. Paul Farmers Market, CHS Field, Mears Park, St. Paul CBD and a wide variety of landmark restaurants and nightlife.
Lowertown is St. Paul’s highest profile urban neighborhood and its multifamily properties consistently perform at 98% occupancy or better. Additionally, the current average rent for the downtown St. Paul submarket is up 5.2% year-over-year bringing that figure to a new high of $1,535/month. This “Lofts on 4th” offering presents investors the rare opportunity to acquire an irreplaceable Lowertown asset with tremendous upside potential through in-unit and common area renovations.
Lofts on 4th features 24 loft-style apartments with 14’-20’ ceilings, exposed brick and large windows in select units. The property also includes 4 basement art studios and 2 street level retail tenants (Lowertown Wine & Spirits and Master Framers). The property is offered free and clear of existing financing.