Minnesota Real Estate Sales
Minnesota Real Estate Sales

MLS# 6823925 - 485 Belvidere Street E Saint Paul, MN 55107

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Fully leased 4-plex on St. Paul's West Side, south of the river with easy access to downtown, the West Side Flats, and District del Sol. Quiet residential block with strong renter demand from the surrounding neighborhood. Close to parks, local restaurants, and transit without the traffic of a main corridor. Two 2BR/1BA units and two 1BR/1BA units across 2,950 SF. All four tenants are on signed leases through mid-2026 to mid-2027 at rents that were increased during the most recent lease-up cycle. 100% occupancy with market rent upside remaining and room to push on renewals. Tenants pay their own gas and electricity. Owner covers water/sewer and trash. The property is enrolled in the City of St. Paul's 4d Affordable Housing Incentive Program, which provides up to an 80% reduction in property tax class rates on enrolled units. The covenant transfers with the property, so a buyer inherits the tax benefit on day one, with estimated annual savings of $4,600+ compared to standard tax rates. Contact the listing broker for full program details, rent and income limits, and recertification requirements. Two units turned over in mid-2025 and were leased up at significantly higher rents. The heavy lifting on vacancy and turnover spend is behind you. A buyer steps into a stabilized rent roll with all four units performing, no deferred maintenance surprises from the recent turn cycle, and a clean path to cash flow from day one. Solid entry point for an investor looking for a manageable 4-unit with tenants already in place, cash flowing, and a low tax basis that's hard to find for under $500k in St. Paul!

MRG Realty Partners, LLC is the brokerage office representing the owner for this listing.
ยฉ Copyright 2026, Regional Multiple Listing Service(RMLS) of Minnesota, Inc. all rights reserved. Information is deemed reliable but is not guaranteed.
The data relating to real estate for sale on this site comes in part from the broker reciprocity program of the Regional multiple Listing Service(RMLS) of Minnesota, Inc distributed by MLS GRID. Real estate listings held by brokerage firms other than are marked with the Broker Reciprocity logo or the Broker reciprocity house icon and detailed information about them includes the names(s) of the listing brokers.
Mike Stanwood Realtor/GRI is not a Multiple Listing Service (MLS), nor does it offer MLS access. This website is a service of Mike Stanwood Realtor/GRI, a broker participant of the Regional Multiple Listing Service of Minnesota, Inc. Northstar MLS data last updated at 3/27/2026 4:50:00 AM.

Fully leased 4-plex on St. Paul's West Side, south of the river with easy access to downtown, the West Side Flats, and District del Sol. Quiet residential block with strong renter demand from the surrounding neighborhood. Close to parks, local restaurants, and transit without the traffic of a main corridor. Two 2BR/1BA units and two 1BR/1BA units across 2,950 SF. All four tenants are on signed leases through mid-2026 to mid-2027 at rents that were increased during the most recent lease-up cycle. 100% occupancy with market rent upside remaining and room to push on renewals. Tenants pay their own gas and electricity. Owner covers water/sewer and trash. The property is enrolled in the City of St. Paul's 4d Affordable Housing Incentive Program, which provides up to an 80% reduction in property tax class rates on enrolled units. The covenant transfers with the property, so a buyer inherits the tax benefit on day one, with estimated annual savings of $4,600+ compared to standard tax rates. Contact the listing broker for full program details, rent and income limits, and recertification requirements. Two units turned over in mid-2025 and were leased up at significantly higher rents. The heavy lifting on vacancy and turnover spend is behind you. A buyer steps into a stabilized rent roll with all four units performing, no deferred maintenance surprises from the recent turn cycle, and a clean path to cash flow from day one. Solid entry point for an investor looking for a manageable 4-unit with tenants already in place, cash flowing, and a low tax basis that's hard to find for under $500k in St. Paul!

MRG Realty Partners, LLC is the brokerage office representing the owner for this listing.
ยฉ Copyright 2026, Regional Multiple Listing Service(RMLS) of Minnesota, Inc. all rights reserved. Information is deemed reliable but is not guaranteed.
The data relating to real estate for sale on this site comes in part from the broker reciprocity program of the Regional multiple Listing Service(RMLS) of Minnesota, Inc distributed by MLS GRID. Real estate listings held by brokerage firms other than are marked with the Broker Reciprocity logo or the Broker reciprocity house icon and detailed information about them includes the names(s) of the listing brokers.
Mike Stanwood Realtor/GRI is not a Multiple Listing Service (MLS), nor does it offer MLS access. This website is a service of Mike Stanwood Realtor/GRI, a broker participant of the Regional Multiple Listing Service of Minnesota, Inc. Northstar MLS data last updated at 3/27/2026 4:50:00 AM.