Stabilized Multifamily
400 East Broadway Avenue, Bismarck, ND 58501
For Sale
Contact for pricing
Turnkey 70-unit multifamily portfolio with major capital improvements complete, offered confidentially across three properties.
Property Size19,745 SF
Price / SF$151.94
Days on Market158
Property Features for 400 East Broadway Avenue
General Information
Standard status
Size
Property subtype
Additional Details
Business Included
Sprinkler System
Multifamily Units
Building Details
Units
Tenancy
Listing Agency:
Capital Real Estate Partners
Listed By:
Chris Volk · License ND #10327
(701) 880-0522
Source:
Crexi
Added: Jun 6
Changed: Oct 26
Last Checked: Nov 8 at 7:13AM
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 Capital Real Estate Partners
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Investment Insights
Based on property information with market context.
This confidential offering presents a stabilized, owner-operated multifamily portfolio totaling 70 units across three properties. The portfolio is presented as a turnkey acquisition, with major capital improvements reported as complete, including full fire-sprinkler systems and recent roofing. The offering is also described as having continued growth since 2018, supported by long-standing local housing relationships.
The portfolio spans two stable, complementary markets in North Dakota. While the listing provides an example address of 400 East Broadway Avenue, Bismarck, ND 58501, the full set of property addresses and unit-level detail are disclosed only after execution of a confidentiality agreement. Flexible acquisition structures are available, with the option to purchase the full three-property portfolio or a smaller sub-package.
For buyers seeking a ready-to-operate residential income platform, this portfolio is positioned as having no major near-term capital required based on the reported completion of significant capital events. The listing also notes ongoing rent management activity and historically consistently high occupancy, along with durable income year over year. Interested parties can request the confidentiality agreement and complete financial statements through the listing broker.
The portfolio spans two stable, complementary markets in North Dakota. While the listing provides an example address of 400 East Broadway Avenue, Bismarck, ND 58501, the full set of property addresses and unit-level detail are disclosed only after execution of a confidentiality agreement. Flexible acquisition structures are available, with the option to purchase the full three-property portfolio or a smaller sub-package.
For buyers seeking a ready-to-operate residential income platform, this portfolio is positioned as having no major near-term capital required based on the reported completion of significant capital events. The listing also notes ongoing rent management activity and historically consistently high occupancy, along with durable income year over year. Interested parties can request the confidentiality agreement and complete financial statements through the listing broker.
Key Highlights
- 70‑unit stabilized multifamily portfolio across three properties in two North Dakota markets
- Owner‑operated portfolio with growth reported since 2018
- Major capital improvements are complete, with full fire‑sprinkler systems and recent roofing noted
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$112,943
Cap Rate
3.76%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,258,860
$2.3M
Cap Rate 7%
$1,613,471
$1.6M
Cap Rate 9%
$1,254,922
$1.3M
Market Conditions
NOI Build-Up for 19,745 SF
Gross rent
$222.7K $11.28/SF
− Vacancy
−$17.4K −$0.88/SF
EGI
$205.4K $10.40/SF
− OpEx
−$92.4K −$4.68/SF
NOI
$112.9K $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%
$2,258,860
Cap Rate 7%
$1,613,471
Cap Rate 9%
$1,254,922
Alternative Uses
Best Use
Apartment 5plus
$1.61M
$1.41M – $1.88M
NOI $112,943 @ 7.0% cap · market cap 3.76%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$4.70M
$4.11M – $5.48M
NOI $328,907 @ 7.0% cap · market cap 10.96%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
Who owns this building?
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Open Analytics
Lease Details
70
Residential units
Multi-tenant
Tenancy
Turnkey business
Opportunity
Yes
Sprinkler system
Location Intelligence
Trade Area within ½ mile
3,396
Businesses Nearby
Explore this area
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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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Apartment building - Turnkey 70-unit multifamily portfolio with major capital improvements complete, offered confidentially across three properties.
Where is this apartment building located?
The property is located at 400 East Broadway Avenue Bismarck, ND.
What is the asking price?
The asking price for this property is $3,000,000.
What are key features of this property?
This property features: 70‑unit stabilized multifamily portfolio across three properties in two North Dakota markets; Owner‑operated portfolio with growth reported since 2018; Major capital improvements are complete, with full fire‑sprinkler systems and recent roofing noted
