8-Unit Apartment
For Sale
$699,900
Pending
2406 N 8th Street, Bismarck, ND 58503
Well-maintained 8-unit apartment building with on-site coin-operated laundry and off-street parking.
Property Size5,898 SF
Days on Market16
Property Features for 2406 N 8th Street
General Information
Standard status
Pending
Size
5,898 SF
Property subtype
Multi Family Home
Additional Details
Multifamily Units
8
Building Details
Year Built
1977
Tenancy
Multi
Listing Agency:
BIANCO REALTY, INC.
(701) 527-1419
Listed By:
JAMES J JEROMCHEK
Source:
Clearwaterproperties
Added: Jul 17
Changed: Jul 20
Last Checked: Aug 1 at 5:20AM
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 BIANCO REALTY, INC.
Investment Insights
Based on property information with market context.
This well-maintained 8-unit apartment building offers a mix of four two-bedroom units and four one-bedroom units. The property includes on-site coin-operated laundry and ample off-street parking. Tenants are responsible for electricity, while the landlord pays gas, water, and garbage.
The building is offered for sale as a residential income property at 2406 N 8th Street, Bismarck, ND 58503.
The current unit mix is 1 Bedroom (Units 1, 4, 5, and 8) and 2 Bedroom (Units 2, 3, 6, and 7), with Unit 6 noted as a 2-bedroom unit with a porch. Reported monthly income totals $5,525.
The building is offered for sale as a residential income property at 2406 N 8th Street, Bismarck, ND 58503.
The current unit mix is 1 Bedroom (Units 1, 4, 5, and 8) and 2 Bedroom (Units 2, 3, 6, and 7), with Unit 6 noted as a 2-bedroom unit with a porch. Reported monthly income totals $5,525.
Key Highlights
- 8‑unit apartment building built in 1977 with 12 bedrooms and 8 full bathrooms
- Unit mix: four 2‑bedroom units and four 1‑bedroom units
- Monthly rent totals $5,525: $575-$850 per unit (Unit 6 2BR w/ Porch at $850)
Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $66.5k | $11.28 |
| − Vacancy | −$5.2k | −$0.88 |
| EGI | $61.3k | $10.40 |
| − OpEx | −$27.6k | −$4.68 |
| NOI | $33.7k | $5.72 |
5,898 SF · lease $11.28/SF/yr · vacancy 7.80% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$482.0K
$421.7K – $562.3K
NOI $33,737 @ 7.0% cap · market cap 4.82%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.40M
$1.23M – $1.64M
NOI $98,247 @ 7.0% cap · market cap 14.04%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
8
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
751
Businesses Nearby
Explore this area
Business Placement
Demographics for 58503, ND
37,157
Population
15,997
Households
2.3
Avg Household Size
39
Median Age
48%
College-Educated
96%
High-School Grad
135.6 sq mi
ZIP Area
274
Density / Sq Mi
$105,108
Median Household Income
$60,058
Median Earnings
$1,131
Median Rent
$383,300
Median Home Value
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Well-maintained 8-unit apartment building with on-site coin-operated laundry and off-street parking.
Where is this apartment building located?
The property is located at 2406 N 8th Street Bismarck, ND.
What is the asking price?
The asking price for this property is $699,900.
What are key features of this property?
This property features: 8‑unit apartment building built in 1977 with 12 bedrooms and 8 full bathrooms; Unit mix: four 2‑bedroom units and four 1‑bedroom units; Monthly rent totals $5,525: $575-$850 per unit (Unit 6 2BR w/ Porch at $850)
