Four-Unit Apartment
For Sale
$389,900
520 9th Street, Bismarck, ND 58501
The property includes three one-bedroom apartments and a two-bedroom, two-level residence with two baths.
Property Size2,876 SF
Price / SF$135.57
Days on Market59
Property Features for 520 9th Street
General Information
Standard status
Active
Size
2,876 SF
Property subtype
Quadruplex
Occupancy
100%
Units
Unit Mix
2 x 1BR, 1 x 1BR, 1 x 2BR/2BA
Multifamily Units
4
Additional Details
Gross Income
$46,260
Tenant in Place
Yes
Building Details
Year Built
1926
Listing Agency:
Capital Real Estate Partners
Listed By:
PAUL E EVERSON
(701) 527-2280
Source:
Gabrielblackre
Added: Sep 3
Changed: Oct 31
Last Checked: Oct 31 at 2:26PM
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 1926 four-unit residential property contains two one-bedroom apartments upstairs, plus a one-bedroom apartment and a two-bedroom, two-level, two-bath residence on the main floor. Each of the two main-floor apartments includes a garage stall. The building has 2,876 square feet, and recent work includes a roof, gutters, and replacement of one furnace. All four units are currently leased and professionally managed.
The property is near hospitals, downtown, the state capitol, and major traffic arteries. Current monthly rents total $3,855.
The property is near hospitals, downtown, the state capitol, and major traffic arteries. Current monthly rents total $3,855.
Key Highlights
- Four units: two one‑bedroom apartments upstairs, one one‑bedroom apartment on the main floor, and one two‑bedroom residence
- Two‑bedroom residence spans two levels and has two baths
- Garage stall included with each of the two main‑floor apartments
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$19,013
Cap Rate
4.88%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$380,260
$380.3K
Cap Rate 7%
$271,614
$271.6K
Cap Rate 9%
$211,256
$211.3K
Market Conditions
NOI Build-Up for 2,876 SF
Gross rent
$29.3K $10.20/SF
− Vacancy
−$2.2K −$0.76/SF
EGI
$27.2K $9.44/SF
− OpEx
−$8.1K −$2.83/SF
NOI
$19.0K $6.61/SF
Area
Burleigh County, ND
Vacancy
7.41%
Lease Rate
$10.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$380,260
Cap Rate 7%
$271,614
Cap Rate 9%
$211,256
Alternative Uses
Best Use
Multifamily LT 5
$271.6K
$237.7K – $316.9K
NOI $19,013 @ 7.0% cap · market cap 4.88%
Second Best
Apartment 5plus
$235.0K
$205.6K – $274.2K
NOI $16,451 @ 7.0% cap · market cap 4.22%
Theoretical Best
Office A
$684.4K
$598.9K – $798.5K
NOI $47,908 @ 7.0% cap · market cap 12.29%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Lease Details
4
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
3,094
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?
Quadplex - The property includes three one-bedroom apartments and a two-bedroom, two-level residence with two baths.
Where is this quadplex located?
The property is located at 520 9th Street Bismarck, ND.
What is the asking price?
The asking price for this property is $389,900.
What are key features of this property?
This property features: Four units: two one‑bedroom apartments upstairs, one one‑bedroom apartment on the main floor, and one two‑bedroom residence; Two‑bedroom residence spans two levels and has two baths; Garage stall included with each of the two main‑floor apartments
