Property Description 24-plex and 12-plex, to be sold together, located in west-central Bismarck with easy access to Main Street, Memorial Hwy Bridge, and the Riverfront Trail along River Road. Each unit is assigned a single garage, additional surface parking is also available. Tenants pay electricity, in-unit television & internet, as well as coin-operated laundry. SF listed is for 24 unit. Buyer to verify 12 unit SF. 5.9% cap rate based on annualized 2020 owner financials; 100% occupancy; Masonry exterior; Some units have been updated;
Steel decking on balconies.
*Additional photos available
Details
Maps
Contract Information
List Price/SqFt: 91.12
Sold Price/SqFt: 81.42
Sold Price: $2,100,000
Current Price: $2,100,000
Date Listed: 2020-10-28
Remarks
Directions: West on Main Ave to Memorial Hwy/Fraine Barracks Rd, North on Fraine Barracks Rd
Public Remarks: 24-plex and 12-plex, to be sold together, located in west-central Bismarck with easy access to Main Street, Memorial Hwy Bridge, and the Riverfront Trail along River Road. Each unit is assigned a single garage, additional surface parking is also available. Tenants pay electricity, in-unit television & internet, as well as coin-operated laundry. SF listed is for 24 unit. Buyer to verify 12 unit SF. 5.9% cap rate based on annualized 2020 owner financials; 100% occupancy; Masonry exterior; Some units have been updated;
Steel decking on balconies.
*Additional photos available
Location
Sub Area: Bismarck City SW
Street Number: 415
Street Name: Fraine Barracks
Street Type: Road
Area: Bismarck City
State: ND
Zip Code: 58504
County: Burleigh
Legal, Tax and Other Information
Taxes: 26385.7
Tax Year: 2019
Specials Installment: 0
Specials Balance: 0
Zoning: CA
Parcel ID: 0185-002-010
Legal Description: RIVER HEIGHTS Block: 2 N 200' BLK 2 E OF FRAINE BARRACKS R OAD
General Property Information
Lot SqFt: 55000
Lot Acres: 1.26
Lot Dimensions: 200x275
Total Unfinished SqFt: 0
Finished Above Grade SqFt: 25791
Finished Below Grade SqFt: 0
Garage: Yes
Fee: Yes
Property Sub Type: Multi Family
Year Built: 1968
Total Finished SqFt: 25791
Business Type
Other: 1
Basement
Egress Windows: 1
Partial: 1
Building Info
See Remarks: 1
Cooling
Wall/Window Unit(s): 1
Heating
Baseboard: 1
Boiler: 1
Hot Water: 1
Natural Gas: 1
Construction Materials
Brick: 1
Frame: 1
Wood Siding: 1
Foundation
Unknown: 1
Possession
Close Of Escrow: 1
Water Source
Public: 1
Sewer
Public Sewer: 1
Parking Features
Detached: 1
Fee Includes
Fee: 0
Fee Frequency: Monthly
See Remarks: 1
Status Change Info
Status: Closed
Under Contract Date: 2020-12-10
Sold Date: 2021-01-28
Sold Price: $2,100,000
Property Features
Business Type: Other
Building Info: See Remarks
Cooling: Wall/Window Unit(s)
Heating: Baseboard; Boiler; Hot Water; Natural Gas
