8-Unit Apartment
2406 N 8th Street Bismarck, ND 58503
New
2406 N 8th Street, Bismarck, ND, 58503
$699,900
Pending
For Sale
$699,900
Pending
Well-maintained 8-unit apartment building with on-site coin-operated laundry and off-street parking.
Property Size5,898 SF
Days on Market5
Property Features for 2406 N 8th Street
General Information
- Standard status
- Pending
- Size
- 5,898 SF
- Property subtype
- Multi Family Home
Building Details
- Year Built
- 1977
Listing agency
BIANCO REALTY, INC.
(701) 527-1419
Listed by
JAMES J JEROMCHEK
Source
Clearwaterproperties
Added: Jul 17 Updated: Jul 20 at 7:34PM Checked: Jul 21 at 4:22AM
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)
Local 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 local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
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FAQs
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)
