Property Details
Price:
Property Type Multifamily
Total Lot Size: 2.42
Number of Units: 51
County: Ramsey
Description
Michel Commercial is pleased to present Agate Apartments — a 57-home community across three buildings, located in Saint Paul, MN. Agate is a well-maintained community situated in the established South of Maryland neighborhood. The property features studio and one-bedroom homes with functional layouts and on-site laundry.
Agate Apartments offers a compelling investment opportunity backed by strong occupancy and stable in-place cash flow. With competitive rents relative to surrounding comparables and proximity to major employment centers, the property is well positioned as a stable, income-producing asset with long-term upside.
Location
Agate Apartments is located in Saint Paul's South of Maryland neighborhood, a well-established residential area with consistent renter demand. The property offers convenient access to downtown Saint Paul, the Capitol area, and surrounding employment centers throughout the metro. Residents benefit from nearby retail, dining, and everyday conveniences, while the neighborhood's mature tree-lined streets, parks, and community amenities support broad tenant appeal among young professionals and long-term renters.
Highlights
Strong Occupancy
Agate Apartments has maintained consistently strong occupancy across its 57-unit community, supported by a stable tenant base and well-maintained property in Saint Paul.
Excellent Connectivity
Located in Saint Paul’s South of Maryland neighborhood, Agate Apartments offers convenient access to downtown Saint Paul, the Capitol area, and major employment centers throughout the metro.
Strong Submarket Fundamentals
Agate Apartments is positioned within the Outlying St. Paul submarket, where vacancy has been trending downward as absorption improves, with development activity slowing and limited new supply expected going forward.