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$2,000,000 Just Listed

  • For Sale
  • Active
  • Commercial
  • 0.096 Acres
  • Updated 2 days ago
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Welcome to an exceptional investment opportunity in the heart of St. Paul! This charming three-story, 19-unit apartment building is perfectly situated on historic Grand Ave, elegantly perched on a hill that offers breathtaking views. This well-maintained building features original hardwood floors throughout, showcasing the timeless craftsmanship and architectural character that defines this beautiful property. The spacious units comprise 12 studio apartments and 7 one-bedroom apartments, each benefitting from great natural light and stunning views through large windows. Key features include: Vacant building ready for new ownership Recent upgrades, including a newer boiler and roof, ensuring efficiency and reliability Clean and well-kept interiors, inviting a variety of potential uses Great layout with large unit sizes, allowing for versatile living arrangements Historically, the property served as a supportive housing medical facility, creating an ideal opportunity for the new owner to continue in that capacity or transition to market-rate apartments, sober housing, supportive housing, or other beneficial uses. Don't miss the chance to acquire this fantastic investment on Grand Ave, where charm meets modern updates, all while being surrounded by scenic views and the vibrant community of St. Paul.

Full Property Details for 487 Grand Ave

General

  • Price: $2,000,000
  • Taxes: $36,502 (2025)
  • Status: Active
  • Type: Commercial
  • Source: NorthStarMLS_RMLS
  • MLS ID: 7021856
  • Updated: 2/17/2026
  • Added to Site: 3 day(s) ago

Interior

  • Appliances: Range, Refrigerator

Additional Information

  • Amenities: Hardwood Floors, Kitchen Window, Natural Woodwork, Other, Panoramic View

Parking

  • Parking Features: Concrete, On-Street Parking Only

Location

  • County: Ramsey
  • Township: Saint Paul
  • Subdivision: Terrace Park Add To, The C
  • Neighborhood: 100
  • Driving Directions: Grand Ave

School Information

  • School District: 2102 - St. Paul
  • High School District: St. Paul

Heating & Cooling

  • Cooling Type: None
  • Heating Type: Boiler
  • Heating Fuel: Natural Gas

Utilities

  • Sewer: City Sewer Connected
  • Water: City Water (Connected)
  • Utility Description: Heating Common

Structural Information

  • Exterior Const.: Concrete, Frame
  • Basement: Yes
  • Finished basement: Yes
  • Basement Desc.: Block, Daylight/Lookout Windows, Egress Window(s), Finished, Full
  • Foundation Size: 4200
  • Roof: Rubber
  • Disability Access: Other
  • Current Bldg. Use: Vacant
  • Year Built: 1928

Unit Information

  • Units w/Refrigerators: 1

Lot Features

  • Lot Size (Acres): 0.096
  • Lot Dimensions: 1
  • Frontage: City Street
  • Potential Use: Income, Medical/Dental
  • Zoning: Residential-Multi-Family, Other

Financial Considerations

  • Tax Amount: $36,502
  • Tax Year: 2025
  • Terms: Conventional, Cash, Other

Disclosures and Reports

  • Legal Description: TERRACE PARK ADDITION TO THE C SELY 1/2 OF VAC ALLEY ADJ AND PART NWLY OF OAKLAND AVE OF LOTS 1O AND LOT 11 BLK 8
  • Inclusions: Building
  • Property ID: 12823310107

Listed by Mitchell Realty LLC

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Listing agents

— 487 Grand Ave —

  • Mitchell Realty LLC

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NMLS#: 1598647

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Save up to an additional 20% by bundling your home and auto together!

Be ready to buy your new home!

with our affiliated lender
NMLS#: 1598647

Get Pre-Approved

Find the right home insurance for your new home!

with our affiliated in-house agency

Request a Quote

Save up to an additional 20% by bundling your home and auto together!

Schools serving 487 Grand Ave

School District:St. Paul Public School District
NameGradesDistance
Randolph Heights Elementary School
348 Hamline Avenue South, Saint Paul, MN 55105
K-51.8 mi
Hidden River Middle School
1700 Summit Avenue, Saint Paul, MN 55105
6-82.5 mi
Central Senior High School, Saint Paul, MN
275 Lexington Parkway North, Saint Paul, MN 55104
9-121.5 mi
Disclaimer: School attendance boundaries provided by Pitney Bowes and are for reference only. Contact the school directly to verify enrollment eligibility.

Price & Sales History for 487 Grand Ave Get Price Alerts and Save Property

Date
Details
Price
Change
Source
2/17/2026
Listed
$2,000,000
17.65%
MLS
8/04/2023
Sold
$1,700,000
—
Public Record
Get Price Alerts and Save Property
Disclaimer: Historical sales information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.

Tax History for 487 Grand Ave

Year
Property Taxes
Change
Tax Assessment
Change
2025
$36,502
-1%
$1,710,100
-2%
2024
$36,942
7%
$1,751,700
-1%
2021
$34,400
-8%
$1,775,900
-8%
2023
$37,552
9%
$1,939,200
8%
2021
$34,400
8%
$1,793,100
17%
2020
$31,836
4%
$1,536,100
5%
2019
$30,644
-6%
$1,463,700
-8%
2018
$32,536
11%
$1,588,300
9%
2017
$29,264
14%
$1,462,800
18%
2016
$25,690
12%
$1,240,200
13%
2015
$22,998
-2%
$1,098,400
5%
2014
$23,438
—
$1,048,100
—
View All
Disclaimer: Historical tax information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.

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Listed by Mitchell Realty LLC

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487 Grand Avenue, Saint Paul, MN 55102 (MLS# 7021856) is a Commercial property. 487 Grand Avenue is currently listed for $2,000,000 and was received on February 17, 2026. Want to learn more about 487 Grand Avenue? Do you have questions about finding other Commercial real estate for sale in Saint Paul? You can browse all Saint Paul real estate or contact a Coldwell Banker agent to request more information.

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