475 WABASHA ST S

PID: 082822220147· 2 fields stubbed (see below)

Property Overview

Parcel ID082822220147

Lot Size54,450 sq ft (1.180 ac)

Lot Dimensions (est.)280 ft wide × 194 ft deep

Year Built1992

Property ClassAPARTMENTS 7-19 RENTAL UNITS

OwnerTHE TERRACES LLC

Assessed Value$1,506,000

Land Value$220,000

Building Value$1,286,000

Annual Tax—(stub)

Environmental Constraints

FloodplainNo

WetlandsNone detected

Historic DistrictNo

Development Opportunities

Opportunity ZoneHigh

Within a federally designated Qualified Opportunity Zone — investors may qualify for capital gains deferrals via a Qualified Opportunity Fund.

HUD Opportunity Zones ↗

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 ↗

Met Council Environmental Response FundMedium

Grants and loans for contamination assessment and cleanup on eligible redevelopment sites in the metro area; does not indicate known contamination.

Metro Council — Environmental Response Fund ↗

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

Permit History

1 permit on record since 2024 · Most recent: Mar 2024 (fire engineering)

Fire EngineeringMar 2024Finaled

—

ESCAPE FIRE PROTECTION

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

Neighborhood Profile

West Side Community Organization · Saint Paul

Median reported rent879/mo

Renter-occupied54.2%

Median home value$242K

Vacancy rate9.9%

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

Source: 2022 ACS 5-Year Estimates · Census Tract 371

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 width270 ft

Buildable depth154 ft

Area~19,035 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 5-over-1 podium (12–50 units) benchmarks for 19,035 sqft buildable area.

Est. units

139

Yield on cost

3.4%

Spread

-2.1%

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Nearby Parcels

Address	Owner	Class	Assessed Value	Distance
472 WABASHA ST S	ANTHONY JAMES TEEHAN	SINGLE FAMILY DWELLING, PLATTED LOT	$299,300	152 ft
480 WABASHA ST S	JEFFREY M STURM TAMMY A STURM	TWO FAMILY DWELLING - UP/DWN	$300,100	162 ft
7 CONGRESS ST W	JAMES C CULLINGTON MARGARET R CULLINGTON	SINGLE FAMILY DWELLING, PLATTED LOT	$254,700	182 ft
11 CONGRESS ST W	WILLIAM J CUSICK REBECCA M CUSICK	SINGLE FAMILY DWELLING, PLATTED LOT	$256,700	194 ft
484 WABASHA ST S	BRADSHAW GROUP INC	COMMERCIAL VACANT LAND	$45,600	199 ft
20 CONGRESS ST W	LORETO VILLEGAS RAMIREZ	TWO FAMILY DWELLING - UP/DWN	$370,100	244 ft
15 CONGRESS ST W	NICE HOMES LLC	SINGLE FAMILY DWELLING, PLATTED LOT	$217,300	246 ft
15 WINIFRED ST W	NEIGHBORHOOD DEV ALLIANCE	EXEMPT, WELFARE/CHARIT FACILITY	$716,900	259 ft
0 HUMBOLDT AVE	1787 GRAND LLC	APARTMENT VACANT LAND	$117,600	263 ft
24 CONGRESS ST W	ANDREA D SUCHY SHINN WILLIAM L SHINN JR	THREE FAMILY DWELLING, PLATTED LOT	$388,900	298 ft

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.