485 Belvidere Street E, Saint Paul, MN 55107
Local realty services provided by:CENTURY 21 FM Realty
485 Belvidere Street E,Saint Paul, MN 55107
$449,750
- 6 Beds
- 4 Baths
- 4,600 sq. ft.
- Multi-family
- Active
Listed by: nathan r schammel, luke hermanson
Office: mrg realty partners, llc.
MLS#:6823925
Source:ND_FMAAR
Price summary
- Price:$449,750
- Price per sq. ft.:$97.77
About this home
4-plex on St. Paul's West Side. Potential owner-occupant opportunity with one unit becoming vacant at the end of June. Located in a tucked-away residential block with easy access to downtown, West Side Flats, and District del Sol. Near parks, restaurants, and transit.
Two 2BR/1BA and two 1BR/1BA units, 2,950 SF total. All four tenants on signed leases (mid-2026 through mid-2027) with rents raised during the most recent lease-up cycle. Current rents still sit below market ceiling, leaving room on renewals. Tenants pay gas and electric; landlord covers water/sewer and trash.
Enrolled in St. Paul's 4d Affordable Housing Incentive Program, featuring up to 80% reduction in property tax class rates. The covenant transfers with the property, with estimated annual savings of $4,600+ over standard rates.
Two units turned over in mid-2025 and were re-leased at meaningfully higher rents. The recent turnover cycle is complete; all four units are performing well with no deferred maintenance carried over.
Priced under $500k with a low tax basis, strong occupancy, and cash flow in place. This is a rare combination to find in St. Paul's current market....
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Home facts
- Year built:1893
- Listing ID #:6823925
- Added:57 day(s) ago
- Updated:May 23, 2026 at 03:12 PM
Rooms and interior
- Bedrooms:6
- Total bathrooms:4
- Living area:4,600 sq. ft.
Heating and cooling
- Heating:Baseboard
Structure and exterior
- Year built:1893
- Building area:4,600 sq. ft.
- Lot area:0.11 Acres
Utilities
- Water:City Water/Connected
- Sewer:City Sewer/Connected
Finances and disclosures
- Price:$449,750
- Price per sq. ft.:$97.77
- Tax amount:$2,248
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