487 GRAND AVE

PID: 012823310107· 2 fields stubbed (see below)

Property Overview

Parcel ID012823310107

Lot Size4,356 sq ft (0.170 ac)

Lot Dimensions (est.)138 ft wide × 32 ft deep

Year Built1928

Property ClassAPARTMENTS 7-19 RENTAL UNITS

Owner487 GRAND AVENUE LLC

Assessed Value$1,762,300

Land Value$360,000

Building Value$1,402,300

Annual Tax—(stub)

Environmental Constraints

FloodplainNo

WetlandsNone detected

Historic DistrictNo

Development Opportunities

Potentially 4d-Eligible PropertyMedium

Property type suggests multifamily rental use — may qualify for the Saint Paul 4d program, which reduces property taxes to ~0.25% in exchange for affordability commitments. Requires 3+ units and a current rental license.

Saint Paul — 4d Affordable Housing Incentive ↗

Potential programs

Saint Paul STAR Grants & LoansMedium

Saint Paul's Sales Tax Revitalization (STAR) program provides grants and loans for commercial, mixed-use, and neighborhood improvement projects. Applications accepted annually.

Saint Paul — STAR Program ↗

Signals are based on public datasets; program eligibility requires verification.

Permit History

6 permits on record since 2016 · $139K total declared value · Most recent: May 2025 (building permit)

Building PermitMay 2025Active/Issued

$62K

PASANN CONSTRUCTION INC

PlumbingMar 2025Inspected

$16K

DUANE FARR FARR PLUMBING & HEATING LLC

MechanicalSep 2018Active/Issued

$30K

GREGORY ROMAIN BURNOMATIC MOONEY & RIDLER

MechanicalSep 2018Active/Issued

$30K

GREGORY ROMAIN BURNOMATIC MOONEY & RIDLER

Warm Air, Ventilation & General SheetJun 2016Finaled

$1K

ENGLUND ROOFING LLC

Source: Saint Paul open data. Declared construction values are applicant-reported and may not reflect actual project cost.

Neighborhood Profile

Summit Hill Association · Saint Paul

Median reported rent1,151/mo

Renter-occupied49.5%

Median home value$404K

Vacancy rate10.3%

ACS rents reflect current tenant leases and may differ from new market rents.

Source: 2022 ACS 5-Year Estimates · Census Tract 358

Zoning

RM2Medium-Density Multiple-Family Residential

Multi-family Residential 2 — medium-intensity apartment (5 stories max)

Typical Uses

·Mid-rise apartments
·Condominiums
·Assisted living
·Nursing homes

Max Height50 ft

Min Setbacks

Front

25 ft

Side

9 ft

Rear

25 ft

Development Potential

Setbacks

Front20 ft

Side (each)5 ft

Rear20 ft

Estimated Buildable Footprint

Buildable width128 ft

Buildable depth0 ft

Area~1,612 sqft

Lot dimensions are insufficient for the standard setbacks shown.

Estimates based on typical zoning setbacks. Actual requirements may vary by lot, overlay, or conditional approval.

Development Feasibility

Likely Infeasible

Back-of-envelope estimate based on small multifamily (2–4 units, wood frame) benchmarks for 1,612 sqft buildable area.

Est. units

Yield on cost

2.3%

Spread

-3.2%

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Nearby Parcels

Address	Owner	Class	Assessed Value	Distance
481 GRAND AVE	DRB LLC	APARTMENTS 4-6 RENTAL UNITS	$625,900	97 ft
462 GRAND AVE	CITY OF ST PAUL	EXEMPT, VACANT LAND	$251,600	132 ft
0 OAKLAND AVE	RICHARD SATTERNESS MADELINE HUSS	RESIDENTIAL, VACANT LAND, LOT	$1,100	137 ft
477 GRAND AVE	RICHARD SATTERNESS MADELINE HUSS	SINGLE FAMILY DWELLING, PLATTED LOT	$434,500	158 ft
5 HEATHER PL	JEFFREY S ARUNDEL AMY E SPARTZ	SINGLE FAMILY DWELLING, PLATTED LOT	$1,373,600	173 ft
469 GRAND AVE	LITTLE JESSIE LLC	APARTMENTS 7-19 RENTAL UNITS	$778,000	208 ft
500 GRAND HILL 3	ROBERT W KRITTA	RESIDENTIAL CO-OP	$363,900	220 ft
500 GRAND HILL 5	ROBERT W KRITTA	RESIDENTIAL CO-OP	$225,500	220 ft
500 GRAND HILL 1	ROBERT W KRITTA	RESIDENTIAL CO-OP	$363,900	220 ft
500 GRAND HILL 4	ROBERT W KRITTA	RESIDENTIAL CO-OP	$363,900	220 ft

Property History

Most Recent Sale

Date2023-08-04

Price$1,700,000

Type—

Stub notice: The following fields could not be fetched from live sources and are shown as "—": taxHistory, taxAmount. See README for details on which sources are live vs. stubbed.