4-Unit Quadplex with New
For Sale
$235,000
111 N 11TH Street Grand, Grand Forks, ND 58203
Occupied four-unit property with a two-bedroom residence and three one-bedroom residences.
Property Size2,540 SF
Days on Market262
Property Features for 111 N 11TH Street Grand
General Information
Standard status
Active
Size
2,540 SF
Property subtype
Multi-Family
Occupancy
100%
Units
Unit Mix
1 x 2BR/1BA, 3 x 1BR/1BA
Multifamily Units
4
Additional Details
Gross Income
$35,400
Amenities
Gas Forced Air
Electric Baseboard
Building Details
Building Size
2,540 SF
Year Built
1900
Listed By:
Jonathon Vonesh · License #7851
(218) 791-4510
Source:
Kw
Added: Jan 25
Changed: Oct 11
Last Checked: Oct 12 at 6:55PM
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 Jonathon Vonesh
Investment Insights
Based on property information with market context.
This four-unit residential income property was built in 1900 and includes one two-bedroom, one-bath residence alongside three one-bedroom, one-bath residences. Each unit has gas forced-air or electric baseboard heating. All four units are currently occupied.
Recent property improvements include a new roof, new front exterior doors, and additional updates within the units. The four-residence configuration provides a clearly defined unit mix for continued multifamily ownership.
Recent property improvements include a new roof, new front exterior doors, and additional updates within the units. The four-residence configuration provides a clearly defined unit mix for continued multifamily ownership.
Key Highlights
- Four‑unit property with one 2‑bedroom, 1‑bath unit and three 1‑bedroom, 1‑bath units
- All units are currently occupied
- New roof completed as part of recent updates
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$19,614
Cap Rate
8.35%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$392,280
$392.3K
Cap Rate 7%
$280,200
$280.2K
Cap Rate 9%
$217,933
$217.9K
Market Conditions
NOI Build-Up for 2,540 SF
Gross rent
$36.6K $14.40/SF
− Vacancy
−$914 −$0.36/SF
EGI
$35.7K $14.04/SF
− OpEx
−$16.0K −$6.32/SF
NOI
$19.6K $7.72/SF
Area
Grand Forks County, ND
Vacancy
2.50%
Lease Rate
$14.40 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$392,280
Cap Rate 7%
$280,200
Cap Rate 9%
$217,933
Alternative Uses
Best Use
Multifamily LT 5
$321.3K
$281.2K – $374.9K
NOI $22,494 @ 7.0% cap · market cap 9.57%
Second Best
Apartment 5plus
$280.2K
$245.2K – $326.9K
NOI $19,614 @ 7.0% cap · market cap 8.35%
Theoretical Best
Office A
$470.3K
$411.5K – $548.6K
NOI $32,918 @ 7.0% cap · market cap 14.01%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
4
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
961
Businesses Nearby
Explore this area
Business Placement
Demographics for 58203, ND
16,165
Population
8,395
Households
1.9
Avg Household Size
29
Median Age
36%
College-Educated
95%
High-School Grad
68.7 sq mi
ZIP Area
235
Density / Sq Mi
$57,905
Median Household Income
$31,586
Median Earnings
$932
Median Rent
$202,500
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Midwest region
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Frequently Asked Questions
What type of property is this?
Quadplex - Occupied four-unit property with a two-bedroom residence and three one-bedroom residences.
Where is this quadplex located?
The property is located at 111 N 11TH Street Grand Grand Forks, ND.
What is the asking price?
The asking price for this property is $235,000.
What are key features of this property?
This property features: Four‑unit property with one 2‑bedroom, 1‑bath unit and three 1‑bedroom, 1‑bath units; All units are currently occupied; New roof completed as part of recent updates
