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 have garages.
Unit 1: $695 lease thru 10/31/26
Unit 2: Empty for showings
Unit 3: $780 lease thru 5/31/26
Unit 4: $725 lease thru 8/31/26
Market rent roll for this building: $2950 - $3150/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 is empty and available for showings. Other units will be made available during due diligence with contracted buyer.
1809 & 1813 neighboring 4plexes are available as a larger package if interested.
Listing courtesy of Kyle Reedstrom, REAL (3961 WF)
