1940 GRAND AVE

PID: 042823320064· 2 fields stubbed (see below)

Property Overview

Parcel ID042823320064

Lot Size12,632 sq ft (0.290 ac)

Lot Dimensions (est.)85 ft wide × 149 ft deep

Year Built1924

Property ClassAPARTMENTS 7-19 RENTAL UNITS

Owner1940 GRAND LLC

Assessed Value$1,533,300

Land Value$300,000

Building Value$1,233,300

Annual Tax—(stub)

Environmental Constraints

FloodplainNo

WetlandsNone detected

Historic DistrictUnknown

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

5 permits on record since 2018 · $66K total declared value · Most recent: Dec 2023 (warm air, ventilation & general sheet)

Warm Air, Ventilation & General SheetDec 2023Finaled

$2K

Kristen Scharbach Quality Trusted Commercial Construction & Roofing

Building PermitSep 2023Inspected

$32K

Kristen Scharbach Quality Trusted Commercial Construction & Roofing

ElectricalJul 2018Finaled

$3K

Mr. TERRY HARMON DEPENDABLE ELECTRIC INC

PlumbingJul 2018Finaled

$15K

RICHARD PETERSON CITIES 1 PLUMBING AND HEATING INC

Building PermitJun 2018Finaled

$15K

RAYMOND PETERSON

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

Neighborhood Profile

Macalester Groveland Community Council · Saint Paul

Median reported rent1,151/mo

Renter-occupied43.9%

Median home value$510K

Vacancy rate22.7%

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

Source: 2022 ACS 5-Year Estimates · Census Tract 349

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 width75 ft

Buildable depth109 ft

Area~4,869 sqft

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 3-story wood frame (5–12 units) benchmarks for 4,869 sqft buildable area.

Est. units

Yield on cost

3.7%

Spread

-1.8%

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Nearby Parcels

Address	Owner	Class	Assessed Value	Distance
1950 GRAND AVE	SUELLEN W BUELOW	SINGLE FAMILY DWELLING, PLATTED LOT	$356,800	63 ft
1954 GRAND AVE	FREDERICK W THORNE III	APARTMENTS 20-49 RENTAL UNITS	$2,460,100	121 ft
1938 GRAND AVE	SDAC LLC	MIXED RESID/COMMERCIAL	$973,000	125 ft
1934 GRAND AVE	ERIC HANSEN JANEL HANSEN	TWO FAMILY DWELLING - UP/DWN	$327,200	162 ft
1943 LINCOLN AVE	LEVINE DILWORTH PROPERTIES LLC	TWO FAMILY DWELLING - UP/DWN	$646,200	171 ft
1947 LINCOLN AVE	STEVEN J GORG	TWO FAMILY DWELLING - UP/DWN	$625,500	178 ft
1962 GRAND AVE	3745 MINNEHAHA, LLC	APARTMENTS 20-49 RENTAL UNITS	$2,150,700	198 ft
1955 LINCOLN AVE	MADELINE RANUM	SINGLE FAMILY DWELLING, PLATTED LOT	$431,900	199 ft
1930 GRAND AVE	GRAND AVENUE INVESTMENTS LLC	SINGLE FAMILY DWELLING, PLATTED LOT	$502,800	202 ft
1937 LINCOLN AVE	LEONARD P RUSSO KIRSTEN M HOEHN	SINGLE FAMILY DWELLING, PLATTED LOT	$390,700	212 ft

Property History

Most Recent Sale

Date2026-01-30

Price$1,650,000

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.