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Groveland Terrace

Groveland Terrace

1787 Grand Ave  /

Property Details

Price:
Property Type Multifamily
Total Lot Size: 0.65 Acres
Year Built: 1960
Number of Units: 18
Garages: 0
County: Ramsey

Description

The Groveland Terrace Apartments is an 18-unit property located on the prestigious Grand Avenue in St. Paul, MN. This well-maintained property offers a desirable mix of spacious one- and two-bedroom apartments, featuring on-site laundry and coveted off-street parking. Residents also enjoy easy access to nearby walking and biking trails, making it a perfect location for an active, urban lifestyle. Situated in the highly sought-after Macalester-Groveland neighborhood, the property is within walking distance of a Metro Transit Route 63 bus stop, along with numerous restaurants and shops. It is less than a mile from both Macalester College and the University of St. Thomas, and just a mile from the nearest Green Line stop on University Avenue. Conveniently located, the Groveland Terrace Apartments is five miles from downtown St. Paul and seven miles from central Minneapolis, offering easy access to both cities. Residents also benefit from proximity to Interstates 94 and 35E, ensuring excellent regional connectivity. With a strong track record of high occupancy and solid in-place income, the Groveland Terrace Apartments offers reliable and predictable returns, making it an attractive investment in a prime location.

Location

St. Paul, Minnesota, is the capital city of the state and is known for its vibrant corporate presence, strong business community, quality education and healthcare institutions, and proximity to numerous employers. Here’s an overview of each of these aspects: Corporate Presence: St. Paul has a significant corporate presence with a diverse range of industries. The city is home to and near several large corporations, including 3M, Ecolab, Securian Financial, and Patterson Companies. These companies contribute to the city’s economic growth and provide employment opportunities. High Quality of Life: St. Paul offers a mix of urban amenities and green spaces, with access to parks, trails, and the Mississippi River. The city boasts a rich history, vibrant neighborhoods, and a strong sense of community, making it a desirable place to live, work, and invest. Healthcare: St. Paul has renowned healthcare facilities such as Regions Hospital, United Hospital, and Children’s Minnesota, providing high-quality medical services to residents. Excellent Education: St. Paul boasts excellent education and healthcare institutions. The city is home to the University of St. Thomas, Hamline University, and several other colleges and universities that offer a wide range of academic programs. Proximity to Employers: St. Paul’s location within the greater Minneapolis-Saint Paul metropolitan area offers proximity to numerous employers. The Twin Cities region is known for its diverse job market, with opportunities in sectors such as healthcare, finance, technology, manufacturing, and more. Commuting between St. Paul and neighboring Minneapolis is convenient, allowing residents to access a wide range of employment options. Overall, St. Paul, MN, offers a favorable environment for businesses, a strong educational foundation, access to quality healthcare, and proximity to a diverse range of employers.These factors contribute to the city’s appeal for professionals, students, and entrepreneurs seeking a dynamic and well-rounded community.

Highlights

Strong Market Demand
Minneapolis-St. Paul continues to rank among the top markets for strong absorption, with a housing shortage exceeding 76,000 units. This sustained demand, coupled with a stagnant development pipeline in St. Paul due to rent control, rising labor and material costs, and increased capital expenses, makes existing properties like Groveland Terrace highly coveted.

Excellent Connectivity Throughout the Metro
St. Paul benefits from its proximity to major highways and interstates, including I-94, I-35E, I-494, US 52, and MN 280. Its location provides residents with convenient access to urban amenities and major employment opportunities making it a highly desirable place to live, work, and play.

Proximity to Top Educational Institutions
Macalester-Groveland is home to both Macalester College and close to the University of St. Thomas. This makes it an ideal location for students, faculty, and staff, as well as families seeking quality education for their children.

Vibrant Local Amenities
The neighborhood is known for its charming mix of local restaurants, coffee shops, boutiques, and other small businesses along Grand Avenue. Residents enjoy easy access to unique dining and shopping experiences, all within a walkable community setting.

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