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7th Avenue Apartments

2050 7th Ave E North Saint Paul / Minnesota

Property Details

Price:

Property Type Multifamily

Total Lot Size: 2.07

Number of Units: 36

County: Ramsey

Description

Michel Commercial is pleased to present 7th Avenue Apartments, a 36-home community in the city of North Saint Paul, Minnesota. Built in 1982, the property offers investors the opportunity to acquire a well-maintained asset with meaningful scale, convenient surface and covered parking, on-site laundry, and a strong location within an established Twin Cities submarket. 7th Avenue presents a compelling investment opportunity supported by strong in-place cash flow and the ability to further enhance returns. Select units have been beautifully renovated, offering a clear path for continued interior upgrades to drive rent growth across the remaining units. Additionally, the implementation of a RUBS program provides meaningful upside through utility reimbursements, creating an opportunity to increase income while maintaining competitive positioning within the submarket.

Location

7th Avenue is located in North Saint Paul, a well-established suburb just northeast of downtown Saint Paul, offering residents convenient access to everyday amenities. Nearby shopping and dining options can be found along 7th Avenue E and in the surrounding Maplewood retail corridor, including Rosedale Mall and Maplewood Mall. Residents benefit from proximity to local parks such as Casey Lake Park, Gateway Trail, and Northwood Park, as well as nearby schools within ISD 622. The property also offers quick access to Interstate 694 and Highway 36, providing seamless connectivity to downtown Saint Paul, Minneapolis, and the greater Twin Cities metro.

Highlights

Strong Occupancy
7th Avenue Apartments is currently fully occupied, providing immediate and stable in-place income with no concessions. The property has demonstrated consistent leasing performance, supported by strong demand in the submarket. Current rents remain well-positioned, offering additional upside as units turn and are upgraded over time.

Connectivity to Employment and Recreation
7th Avenue Apartments offers convenient access to major employment hubs throughout the Twin Cities, with quick connectivity via Interstate 694 and Highway 36. Residents benefit from proximity to major employers in Saint Paul, Maplewood, and the greater metro, while also enjoying nearby recreational amenities including Casey Lake Park, Northwood Park, and a variety of local trails and green spaces.

Supply Constrained Submarket
The Maplewood East Ramsey County submarket continues to demonstrate balanced fundamentals, with limited new supply and steady absorption supporting long-term stability. New deliveries remain modest while vacancy is expected to stabilize and trend downward over time. This dynamic positions 7th Avenue Apartments to benefit from sustained renter demand and continued rent growth within a tightening market environment.

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7th Avenue Apartments