UPDATED:
Key Details
Property Type Multi-Family
Sub Type Fourplex
Listing Status Pending
Purchase Type For Sale
Square Footage 3,264 sqft
Price per Sqft $91
Subdivision Villards Add
MLS Listing ID 7064793
Bedrooms 8
Year Built 1968
Annual Tax Amount $4,117
Tax Year 2025
Contingent None
Lot Size 6,969 Sqft
Lot Dimensions irregular
Property Sub-Type Fourplex
Property Description
The property is fully leased with a diverse tenant base, including long-term occupancy—one tenant in place since 2001—providing immediate and reliable income stability. Current gross monthly rents total $2,905, with additional income from on-site laundry bringing total annual income higher.
Investors will appreciate the clear value-add opportunity: comparable 2-bedroom units in the Grand Forks market are renting between $800-$1,000 per month, leaving substantial room to increase cash flow over time. Whether through strategic rent adjustments or future unit updates, this property offers a path to significantly improved returns.
Situated in a highly desirable rental location near the University of North Dakota, the property benefits from consistent rental demand. Tenants enjoy convenient access to grocery stores, daycare facilities, and multiple schools within a one-mile radius, along with nearby public transportation options—making it an attractive and practical place to live.
Additional features include two single-stall garages, driveway parking, and ample street parking, enhancing tenant convenience and overall property appeal.
This is a rare opportunity to acquire a stabilized, income-producing asset with built-in upside in a strong rental market. Ideal for investors seeking immediate cash flow with long-term growth potential.
Location
State ND
County Grand Forks
Zoning Residential-Multi-Family,Residential-Single Family
Rooms
Basement Block
Interior
Heating Boiler
Fireplace No
Laundry Lower Level
Exterior
Parking Features Detached Garage, Concrete, Open
Garage Spaces 2.0
Building
Lot Description Corner Lot
Story Split Entry (Bi-Level)
Foundation 1632
Sewer City Sewer/Connected
Water City Water/Connected
Level or Stories Split Entry (Bi-Level)
New Construction false
Schools
School District Grand Forks
Nearby School & Business
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