901 1ST Street N

    Fargo, ND 58102
    • $200,000
    • STATUS: Active
    • ON SITE: 122 days
    • MLS #: 18-5182
    UPDATED: 42 min ago
    $200,000
    • 0
      BEDS
    • 0.16
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    Neighborhood:
    Type:
    Multi-Family
    Built:
    1928
    County:

    School Information

    High School:
    Listing courtesy of Tri-Star Realty.

    Description

    Four-plex apartment building located in North Fargo. Less than 1 block from a park in quiet residential neighborhood. Four one bedroom units with excellent rental history and long-term tenants. Built in 1928 has never had flooding problems and generates $1800 per month in gross revenue with an annual NOI of $12200 in 2017. We have owned the property for many years and are now looking to invest in other opportunities. Incredibly low vacancy rate of less than 1% for last 3 years. The building is within 1 mile of a major State University 1 mile of downtown with easy access to Moorhead Minnesota and the interstate. Operating expenses include $1679 for taxes $3150 utilities $1200 manager $2227. Historically low operating expenses of approx $9000.The Fargo community is a vibrant and growing centre for industry and agriculture and education. Historically property values have done really well for investment purposes. At our asking price and a 20% down with financing terms available with good credit the cap rate is 6% and if market trends continue a buyer could see an annual 11.3% before-tax IRR in 5 years.

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    The data relating to real estate for sale on this web site comes in part from the Broker Reciprocity program of the FMAAR MLS. Real estate listings other than FM Team - Keller Williams Inspire Realty are marked with the Broker Reciprocity logo and the view of detailed information about them includes the name of the listing broker. Information is being provided for consumers' personal, noncommercial use and may not be used for any purpose other than to identify prospective properties which consumers may be interested in purchasing. All property listing data is © 2019 Fargo-Moorhead Area Association of REALTORS®. No reproduction, compilation, retransmission or distribution of this data is permitted in any manner without the express, written permission of the Fargo-Moorhead Area Association of REALTORS®. Information provided is not guaranteed to be accurate and should be independently verified. Data last updated: 2019-01-19T21:41:44.1.
    www.fmrealestateteam.com/homes/87576919

    901 1ST Street N Fargo, ND 58102

    • Price: $200,000
    • Status: Active
    • Updated: 42 min ago
    • MLS #: 18-5182
    0
    Beds
    0
    Baths
    0
    ½ Baths
    0.16
    Acres
    1928
    Built
    Neighborhood:
    A2 - North Fargo
    County:
    Cass
    Area:
    A2 - North Fargo
    High School:
    Fargo North
    Property Description
    Four-plex apartment building located in North Fargo. Less than 1 block from a park in quiet residential neighborhood. Four one bedroom units with excellent rental history and long-term tenants. Built in 1928 has never had flooding problems and generates $1800 per month in gross revenue with an annual NOI of $12200 in 2017. We have owned the property for many years and are now looking to invest in other opportunities. Incredibly low vacancy rate of less than 1% for last 3 years. The building is within 1 mile of a major State University 1 mile of downtown with easy access to Moorhead Minnesota and the interstate. Operating expenses include $1679 for taxes $3150 utilities $1200 manager $2227. Historically low operating expenses of approx $9000.The Fargo community is a vibrant and growing centre for industry and agriculture and education. Historically property values have done really well for investment purposes. At our asking price and a 20% down with financing terms available with good credit the cap rate is 6% and if market trends continue a buyer could see an annual 11.3% before-tax IRR in 5 years.
    Exterior Features

    Lake None Waterfront No

    Interior Features

    Above Grade Finished Area 2480.0000 Above Grade Unfinished Area 0.00 Below Grade Finished Area 0.00 Below Grade Unfinished Area 0.00 Total Rental Units 4 Unit1 Bedrooms 1.00

    Property Features

    Map Zone Zone 1 Multifamily Sub Type Multi-Family Taxes 1678.68 Unit1 Number Of Units 4.00 Zoning Residential Mf

    Listing provided courtesy of Carl Wuestehube - Dr of Tri-Star Realty.

    The data relating to real estate for sale on this web site comes in part from the Broker Reciprocity program of the FMAAR MLS. Real estate listings other than FM Team - Keller Williams Inspire Realty are marked with the Broker Reciprocity logo and the view of detailed information about them includes the name of the listing broker. Information is being provided for consumers' personal, noncommercial use and may not be used for any purpose other than to identify prospective properties which consumers may be interested in purchasing. All property listing data is © 2019 Fargo-Moorhead Area Association of REALTORS®. No reproduction, compilation, retransmission or distribution of this data is permitted in any manner without the express, written permission of the Fargo-Moorhead Area Association of REALTORS®. Information provided is not guaranteed to be accurate and should be independently verified. Data last updated: 2019-01-19T21:41:44.1.
     
    FM Team - Keller Williams Inspire Realty
    4575 23rd Ave, South Ste 400
    Fargo ND, 58104
    Listing courtesy of Tri-Star Realty.