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661 Payne Avenue, 
Saint Paul, MN 55130

$475,000


4

Beds


4

Baths


2,600

Sq Ft


Multi-Family

Active

Listed by

Hosie

Keller Williams Realty Integrity Lakes

612-821-7400

Last updated:

September 29, 2026, 12:24 PM

MLS#

7068786

Source:

NSMLS

About This Home

661 Payne Avenue

A strong investment opportunity in one of Saint Paul’s high-demand rental corridors. This newly renovated 4-unit mixed-use property sits on a rare double lot and offers excellent cash flow potential with additional upside through below-market rents. The property is Section 8 approved and enrolled in the City of Saint Paul’s 4-D Affordable Housing Program, providing valuable property tax reductions and long-term affordability incentives. The asset features a versatile mixed-use zoning configuration that includes both a commercial garage space and a traditional residential garage, creating flexibility for owner-operators, small businesses, contractors, storage income, workshop use, or additional tenant amenities. Investors also have the option to maintain the property as a fully residential income-producing asset. The building has undergone substantial renovations and stabilization, making it a turnkey opportunity for investors seeking immediate cash flow with long-term appreciation potential. Spacious units, strong rental demand, and flexible lease structures provide multiple operational strategies for future ownership. The oversized lot includes a shared backyard with patio space, green space, and garden potential, adding lifestyle appeal for tenants. Located along the vibrant Payne Avenue corridor, the property is walkable to neighborhood staples including Yarusso Bros, Minnesota Music Cafe, local restaurants, retail, parks, and the Bruce Vento Regional Trail. Motivated seller. Excellent opportunity for investors seeking a stabilized multifamily asset with mixed-use flexibility, tax advantages, and future upside in a rapidly improving East Saint Paul market.

Home Facts

Multi-Family

4 Baths

4 Bedrooms

Built in 1884

Subdivision & Development:

Phillips Add

Price Summary

475,000

$182 per Sq. Ft.

MLS #:

7068786

Last Updated:

September 29, 2026, 12:24 PM

Added:

4 month(s) ago


Rooms & Interior

Bedrooms

Total Bedrooms:

4

Bathrooms

Total Bathrooms:

4

Interior

Living Area:

2,600 Sq. Ft.


Structure

Structure

Building Area:

3,900 Sq. Ft.

Year Built:

1884


Lot

Lot Size (Sq. Ft):

5,227


Finances & Disclosures

Finances

Price:

$475,000

Price per Sq. Ft:

$182 per Sq. Ft.

Source:NSMLS
Data is deemed reliable but is not guaranteed accurate by the MLS. The information being provided is for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.

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Contact an Agent

Yes, I would like more information. Please use and/or share my information with a Coldwell Banker ® affiliated agent to contact me about my real estate needs. By clicking Contact, I request to be contacted by phone or text message and consent to being contacted by automated means. I understand that my consent to receive calls or texts is not a condition of purchasing any property, goods, or services. Alternatively, I understand that I can access real estate services by email or I can contact the agent myself.

If a Coldwell Banker affiliated agent is not available in the area where I need assistance, I agree to be contacted by a real estate agent affiliated with another brand owned or licensed by Anywhere Real Estate (BHGRE®, CENTURY 21®, Corcoran®, ERA®, or Sotheby's International Realty®). I acknowledge that I have read and agree to the terms of use and privacy notice.