Rare on-market 4plex investment opportunity near Sanford university & interstate. Building was acquired as part of a large portfolio purchase. INVESTOR INFO: All units are 2 bed/1bath. Additional storage units on top floor hallways. Building does NOT have garages, just parking. Photos are generic photos from turned units.
Unit 1: $714 lease thru 7/31/26
Unit 2: 782 lease thru 4/30/27
Unit 3: $692 lease thru 3/31/27
Unit 4: $757 lease thru 10/31/26
Market rent roll for this building: $2945/mo ADDITIONAL INCOME Property does have RUBS implemented AKA tenants pay their own utilities on a ratio billing system. Transferrable to next owner. In February approx $300 was collected from tenants in utility reimbursement/income Property does have laundry income.
EXPENSES: Property Management: Buyer can estimate Insurance: Buyer can estimate, many carriers in ND differ on pricing and coverage. Utilities: Buyer to project and plan for themselves. Water/Sewer/garbage/Gas averaged $278/mo last year. Snow & Lawn: Buyer can quote and estimate, cost can vary. Repairs & Maintenance: Unit turns and property improvements can be estimated by buyer. More in-depth costs can be shared with buyer as part of a due diligence. SHOWINGS: Unit 2 in building 1813 is empty and available for showings. This is the only unit available for showing. Other units will be made available during due diligence with contracted buyer. 1805 & 1813 neighboring 4plexes are available as a larger package if interested.
Listing courtesy of Kyle Reedstrom, REAL (3961 WF)
