Oakdale Commons
1895 Oakdale Avenue West St. Paul / Minnesota
Property Details
Price:
Property Type Multifamily
Total Lot Size: 1.71
Number of Units: 43
County: Dakota
Description
Michel Commercial is pleased to present Oakdale
Commons, a 43-home multifamily community located in
West St. Paul, Dakota County, Minnesota, where properties
are not subject to rent control. The community offers an
attractive unit mix of predominantly two-bedroom homes
(70%), complemented by one-bedroom (28%) and studio
(2%) floor plans. Select homes feature dishwashers and
private balconies, while community amenities include an
elevator, covered garage parking, ample surface parking, and
an outdoor swimming pool.
Location
Oakdale Commons is ideally located in the established community of West St. Paul, just minutes from downtown St. Paul and the bustling Robert Street commercial corridor. Residents enjoy convenient access to shopping, dining, grocery stores, parks, healthcare facilities, and everyday services.
Nearby Highway 52 and I-494 provide excellent connectivity throughout the Twin Cities metro, including major employment centers, downtown Minneapolis, and Minneapolis–St. Paul International Airport. This desirable location combines suburban convenience with easy access to urban amenities, making Oakdale Commons an attractive residential community.
Highlights
Reduced Property Tax Rate
Oakdale Commons currently benefits from a reduced property tax rate associated with an existing loan agreement requiring nine units to be rented to households earning no more than 60% of Area Median Income (AMI) through 2028. (Upon expiration of the agreement, the property is projected to return to the full market-rate tax rate of 1.79%.)
Strong Occupancy
Currently 95% occupied with average in-place rents of $1,296 per month, Oakdale Commons offers investors stable in-place cash flow with additional income potential through the implementation of a Ratio Utility Billing System (RUBS) to recover utility expenses.