8-Unit Apartment
For Sale
$849,900
1839 Allison Drive, Bismarck, ND 58501
Each residence has two bedrooms and one bathroom, with shared coin-operated laundry serving the property.
Property Size7,152 SF
Price / SF$118.83
Days on Market62
Property Features for 1839 Allison Drive
General Information
Standard status
Active
Size
7,152 SF
Property subtype
Multi Family
Units
Unit Mix
8 x 2BR/1BA
Multifamily Units
8
Additional Details
Gross Income
$93,000
Tenant in Place
Yes
Amenities
shared coin-operated laundry
Building Details
Year Built
1977
Listing Agency:
Realty One Group - Encore
Listed By:
Nathan A Engh
(701) 202-6136
Source:
Gabrielblackre
Added: Sep 1
Changed: Oct 31
Last Checked: Oct 31 at 2:16PM
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 Realty One Group - Encore
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Investment Insights
Based on property information with market context.
This 7,152-square-foot apartment property contains eight residences, each arranged with two bedrooms and one bathroom. Shared coin-operated laundry and a large parking lot with off-street spaces serve the building, which was constructed in 1977.
The property is located at 1839 Allison Drive in Bismarck, North Dakota.
The property is located at 1839 Allison Drive in Bismarck, North Dakota.
Key Highlights
- Eight apartments, each with a 2‑bedroom, 1‑bathroom layout
- 7,152 square feet; built in 1977
- Shared coin‑operated laundry
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$40,910
Cap Rate
4.81%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$818,200
$818.2K
Cap Rate 7%
$584,429
$584.4K
Cap Rate 9%
$454,556
$454.6K
Market Conditions
NOI Build-Up for 7,152 SF
Gross rent
$80.7K $11.28/SF
− Vacancy
−$6.3K −$0.88/SF
EGI
$74.4K $10.40/SF
− OpEx
−$33.5K −$4.68/SF
NOI
$40.9K $5.72/SF
Area
Burleigh County, ND
Vacancy
7.80%
Lease Rate
$11.28 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$818,200
Cap Rate 7%
$584,429
Cap Rate 9%
$454,556
Alternative Uses
Best Use
Apartment 5plus
$584.4K
$511.4K – $681.8K
NOI $40,910 @ 7.0% cap · market cap 4.81%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.70M
$1.49M – $1.99M
NOI $119,136 @ 7.0% cap · market cap 14.02%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
8
Residential units
Location Intelligence
Trade Area within ½ mile
507
Businesses Nearby
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Business Placement
Demographics for 58501, ND
28,388
Population
13,445
Households
2.1
Avg Household Size
38
Median Age
35%
College-Educated
95%
High-School Grad
22.8 sq mi
ZIP Area
1,245
Density / Sq Mi
$69,796
Median Household Income
$45,237
Median Earnings
$938
Median Rent
$276,000
Median Home Value
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Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Apartment building - Each residence has two bedrooms and one bathroom, with shared coin-operated laundry serving the property.
Where is this apartment building located?
The property is located at 1839 Allison Drive Bismarck, ND.
What is the asking price?
The asking price for this property is $849,900.
What are key features of this property?
This property features: Eight apartments, each with a 2‑bedroom, 1‑bathroom layout; 7,152 square feet; built in 1977; Shared coin‑operated laundry
