5-Unit Apartment Building with
New
For Sale
$400,000
1024 7th Street N, Fargo, ND 58102
Fully rented residential property with a six-stall garage and a mix of one- and two-bedroom apartments.
Property Size3,456 SF
Price / SF$115.74
Days on Market2
Property Features for 1024 7th Street N
General Information
Standard status
Active
Size
3,456 SF
Total Parking Spaces
6
Property subtype
Commercial
Occupancy
100%
Units
Unit Mix
2 x 2BR, 3 x 1BR
Multifamily Units
5
Building Details
Year Built
1910
Buildings
1
Listing Agency:
Shady Oak Realty
Listed By:
The Antonov Group
(612) 445-4981
Source:
Theantonovgroup
Added: Oct 9
Changed: Oct 10
Last Checked: Oct 10 at 2:28AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Shady Oak Realty
Investment Insights
Based on property information with market context.
This 3,456-square-foot apartment property was built in 1910 and contains five units. The main-floor and lower-level apartments each have two bedrooms; the other three are one-bedroom units. Common areas feature hardwood floors and an open staircase with a wood banister. The lower-level unit opens directly to a patio, with additional yard space on the lot.
A six-stall garage provides one stall for each apartment and an additional space for owner storage. Improvements include a new boiler system and City of Fargo water and sanitary sewer service repair in 2025, along with painting throughout the property. The property is near downtown Fargo.
A six-stall garage provides one stall for each apartment and an additional space for owner storage. Improvements include a new boiler system and City of Fargo water and sanitary sewer service repair in 2025, along with painting throughout the property. The property is near downtown Fargo.
Key Highlights
- Five apartments: two two‑bedroom units and three one‑bedroom units
- 3,456 square feet; built in 1910
- New 6 stall garage with one stall per unit plus owner storage
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$28,576
Cap Rate
7.14%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$571,520
$571.5K
Cap Rate 7%
$408,229
$408.2K
Cap Rate 9%
$317,511
$317.5K
Market Conditions
NOI Build-Up for 3,456 SF
Gross rent
$56.0K $16.20/SF
− Vacancy
−$4.0K −$1.17/SF
EGI
$52.0K $15.03/SF
− OpEx
−$23.4K −$6.77/SF
NOI
$28.6K $8.27/SF
Area
Fargo, ND
Vacancy
7.20%
Lease Rate
$16.20 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$571,520
Cap Rate 7%
$408,229
Cap Rate 9%
$317,511
Alternative Uses
Best Use
Apartment 5plus
$408.2K
$357.2K – $476.3K
NOI $28,576 @ 7.0% cap · market cap 7.14%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$749.7K
$656.0K – $874.7K
NOI $52,479 @ 7.0% cap · market cap 13.12%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
5
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
678
Businesses Nearby
Explore this area
Business Placement
Demographics for 58102, ND
30,767
Population
16,757
Households
1.8
Avg Household Size
32
Median Age
45%
College-Educated
95%
High-School Grad
31.6 sq mi
ZIP Area
974
Density / Sq Mi
$56,028
Median Household Income
$31,939
Median Earnings
$829
Median Rent
$235,600
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Apartment building - Fully rented residential property with a six-stall garage and a mix of one- and two-bedroom apartments.
Where is this apartment building located?
The property is located at 1024 7th Street N Fargo, ND.
What is the asking price?
The asking price for this property is $400,000.
What are key features of this property?
This property features: Five apartments: two two‑bedroom units and three one‑bedroom units; 3,456 square feet; built in 1910; New 6 stall garage with one stall per unit plus owner storage
