| Comparable Sale #5 | Phalen Village Apartments |
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| Address: | 1180-1186 Prosperity Ave., St. Paul |
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| Sales Price: | $560,000; $7,368/unit |
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| Date of Sale: | August of 2023 |
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| Seller: | HRA City of St. Paul |
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| Buyer: | Phalen Village Apartments, LP |
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| Land Size: | 1.13 acres |
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| Zoning: | T2 |
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| Highest and Best Use: | Multi-family development |
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| Current Use: | Vacant |
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| Parcel #: | 27.29.22.22.0006; 0167 |
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| Financing: | Cash |
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| Confirmation: | eCRV# 1569556; city of St Paul |
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General Remarks:
This property is located in the Phalen Village redevelopment area at the southeast corner of Maryland Ave. The site was improved with a 3,686 sf convenience store built in 1967 demolished for a recently completed 76 unit apartment property. The neighborhood has had considerable redevelopment over the past decade including a Cub Foods across the street to the west.