Chicago Investor Acquires 48-Unit Multifamily Asset The Jax In Saint Paul For Unspecified Amount
253 4th Street East
Building Size
49,082 SF
Asset Type
MultiFamily
Closing
May 20, 2025
AI
The property involved in this transaction is a multi-family asset located at 253 4th Street East in Saint Paul, MN. This fully renovated loft-style apartment building, known as The Jax, comprises 48 units and has a total square footage of 49,082. The transaction was closed on May 20, 2025.
Summary of transaction details:
- Property Type: MultiFamily
- Transaction Amount: Not specified
- Address: 253 4th Street East
- Market: Saint Paul, MN
- Units: 48
- Square Footage: 49,082
A Chicago-based investor acquired The Jax, with Marcus & Millichap's brokers including Chris Collins, Evan Miller, Eric Wagner, and Matt Shide representing the local seller and facilitating the buyer's acquisition of the property.
Players
Saint Paul MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93