81-Unit Multifamily Investment
For Sale
Contact for pricing
208 2nd St NW, East Grand Forks, MN 56721
Rare opportunity in high-demand market with value-add potential.
Property Size47,061 SF
Price / SF$127.49
Days on Market180
Property Features for 208 2nd St NW
General Information
Standard status
Active
Size
47,061 SF
Property subtype
Multifamily
Building Details
Year Built
1978
Listing Agency:
Kiser Group
Listed By:
Robert Dulin · License #MN40961803
Source:
Crexi
Added: Feb 23
Changed: Aug 21
Last Checked: Aug 22 at 8:42AM
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 Kiser Group
Investment Insights
Based on property information with market context.
This 81-unit multifamily property, offered for sale for the first time, presents a rare opportunity to acquire a substantial residential asset in the Grand Forks market. The property features a mix of 78 one-bedroom and 3 two-bedroom units, catering to the demand for efficient living spaces. Significant value-add potential exists through interior modernization, including upgrades to unit finishes, appliances, and amenities, to capture market rents and increase net operating income. Revenue enhancement opportunities include strategic rent increases, implementation of Ratio Utility Billing Systems (RUBS), parking fees, laundry services, and premium unit finishes. The property benefits from limited new development of comparable assets, creating built-in pricing power. Investors can expect immediate income with a clear path to appreciation through strategic repositioning. The property is located in East Grand Forks, MN, near the Red River and the downtown district, which offers a mix of shops, restaurants, and entertainment. The location provides proximity to the University of North Dakota and the Grand Forks Air Force Base, with convenient access to major transportation routes.
Key Highlights
- Rare opportunity to acquire an 81‑unit legacy property in a high‑demand market, never previously offered for sale.
- Significant value‑add potential through interior modernization to capture market rents and increase NOI.
- Highly desirable unit mix of 78 one‑bedroom and 3 two‑bedroom units.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,288
Businesses Nearby
Explore this area
Business Placement
Demographics for 56721, MN
10,602
Population
4,381
Households
2.4
Avg Household Size
36
Median Age
29%
College-Educated
95%
High-School Grad
192.4 sq mi
ZIP Area
55
Density / Sq Mi
$83,633
Median Household Income
$45,522
Median Earnings
$876
Median Rent
$247,200
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 - Rare opportunity in high-demand market with value-add potential.
Where is this apartment building located?
The property is located at 208 2nd St NW East Grand Forks, MN.
What is the asking price?
The asking price for this property is $6,000,000.
What are key features of this property?
This property features: Rare opportunity to acquire an 81‑unit legacy property in a high‑demand market, never previously offered for sale.; Significant value‑add potential through interior modernization to capture market rents and increase NOI.; Highly desirable unit mix of 78 one‑bedroom and 3 two‑bedroom units.
