• 5302 51st Ave S, Suite B - Fargo, ND 58104
  • 701-566-7080
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$625,000
1023 3rd Street S
Bismarck, ND 58504
MLS# 4004160
Status: Closed
16 beds  |  8 baths  |  7878 sqft
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Property Description
Are you looking for a great investment property... here it is ! Check out this 8 plex apartment building with a maintenance free brick exterior. Convenient location to Kirkwood Mall, restaurants, businesses, etc. There have been many updates to these apartments. The rents per month are as follows: $756, $765, $806, $765, $724, $840, $765. One apartment is currently vacant. The total rent currently received with 7 apartments rented is $5,421 per month. If the last apartment was rented at $765 the total rent would be $6,186 per month. (This building fully rented is a good investment using the 1% rule.) There is a professional property management company that handles everything. They will need to give a 24 - 48 hour notice to the tenants for all showings. The parking lot is shared with 3 other apartment buildings. This is the furthest South apartment building. Coin operated Washers and Dryers on each level... 2 washers, 2 dryers with income approx $404 per month. There is new carpet in the hallways and new paint. Most of the individual apartments have been updated. New Security System.

Details
Maps
Contract Information
List Price/SqFt: 76.16
Sold Price/SqFt: 79.33
Sold Price: $625,000
Current Price: $625,000
Date Listed: 2022-09-12
Remarks
Included: Refrigerator, Range, Hood, 2 Washers and 2 Dryers ( located on each level in the hallways ).
Directions: Located on South 3rd St. just South of Bismarck Expressway. South of Kirkwood Mall.
Public Remarks: Are you looking for a great investment property... here it is ! Check out this 8 plex apartment building with a maintenance free brick exterior. Convenient location to Kirkwood Mall, restaurants, businesses, etc. There have been many updates to these apartments. The rents per month are as follows: $756, $765, $806, $765, $724, $840, $765. One apartment is currently vacant. The total rent currently received with 7 apartments rented is $5,421 per month. If the last apartment was rented at $765 the total rent would be $6,186 per month. (This building fully rented is a good investment using the 1% rule.) There is a professional property management company that handles everything. They will need to give a 24 - 48 hour notice to the tenants for all showings. The parking lot is shared with 3 other apartment buildings. This is the furthest South apartment building. Coin operated Washers and Dryers on each level... 2 washers, 2 dryers with income approx $404 per month. There is new carpet in the hallways and new paint. Most of the individual apartments have been updated. New Security System.
Location
Sub Area: Bismarck City SE
Street Number: 1023
Street Name: 3rd
Street Type: Street
Street Direction Sfx: S
Area: Bismarck City
State: ND
Zip Code: 58504
County: Burleigh
Subdivision: Meadow Valley
Legal, Tax and Other Information
Taxes: 5800
Tax Year: 2021
Specials Installment: 1032
Specials Balance: 5516
Pending Specials: No
Zoning: RM30
Parcel ID: 0591-014-008
Legal Description: S. 10' of Lot 2 and Lot 3 Less S. 58.98' Block 14 Meadow Valley Rep L1 B2
General Property Information
Lot SqFt: 13229
Lot Acres: 0.304
Lot Dimensions: 71 x 180-190
Total 1/4 Baths: 0
Total Half Baths: 0
Total 3/4 Baths: 0
Main Finished SqFt: 3939
Upper Finished SqFt: 0
Lower Finished SqFt: 3939
Basement Finished SqFt: 0
Finished Above Grade SqFt: 3939
Finished Below Grade SqFt: 3939
Garage: No
Fireplace: No
Accessibility Features: No
Association: No
Property Sub Type: Multi Family
Year Built: 1975
Bedrooms Total: 16
Total Full Baths: 8
Total Baths: 8
Total Finished SqFt: 7878
Basement
Egress Windows: 1
Finished: 1
Roof
Shingle: 1
Cooling
Wall/Window Unit(s): 1
Heating
Baseboard: 1
Hot Water: 1
Architectural Style
Apartment Style: 1
Construction Materials
Brick: 1
Wood Siding: 1
Levels
Two: 1
Flooring
Carpet: 1
Laminate: 1
Linoleum: 1
Vinyl: 1
Appliances
Dryer: 1
Range: 1
Range Hood: 1
Refrigerator: 1
Washer: 1
Interior Features
See Remarks: 1
Possession
Close Of Escrow: 1
Subject To Tenant Rights: 1
Exterior Features
Balcony: 1
Lot Features
Level: 1
Rectangular Lot: 1
Water Source
Public: 1
Sewer
Public Sewer: 1
Parking Features
Additional Parking: 1
No Garage: 1
Parking Lot: 1
Association Fee Includes
None: 1
Status Change Info
Status: Closed
Under Contract Date: 2022-09-22
Sold Date: 2022-10-18
Sold Price: $625,000
Property Features
Basement: Egress Windows; Finished
Roof: Shingle
Architectural Style: Apartment Style
Levels: Two
Flooring: Carpet; Laminate; Linoleum; Vinyl
Heating: Baseboard; Hot Water
Cooling: Wall/Window Unit(s)
Construction Materials: Brick; Wood Siding
Appliances: Dryer; Range; Range Hood; Refrigerator; Washer
Interior Features: See Remarks
Possession: Close Of Escrow; Subject To Tenant Rights
Exterior Features: Balcony
Lot Features: Level; Rectangular Lot
Parking Features: Additional Parking; No Garage; Parking Lot
Water Source: Public
Sewer: Public Sewer
Association Fee Includes: None
Listing Office: BIANCO REALTY, INC.

Last Updated: September - 04 - 2024

Information deemed reliable but not guaranteed.

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