1500 1St AveMandan, ND 58554

For Sale
$530,000

Six-unit apartment building, 100% occupied.

Overview

Added:
Dec 11, 2024
Days on market:
94
Exceptional investment opportunity: a fully occupied six-unit apartment building located at 1500 1st Ave NW, Mandan, North Dakota, 58554. This three-story brick building, constructed in 1977, boasts 6,945 square feet on a 9,100 square foot lot (APN: 65-2150000). Each of the six units offers two bedrooms and one bathroom. The property benefits from convenient access to downtown Mandan and Interstate 94, ensuring high tenant demand. Currently operating at 100% occupancy, rents are projected to increase on October 1, 2024, boosting potential gross income to $58,440. Additional features include on-site parking and coin-operated laundry facilities on each floor. The property is zoned CA - Neighborhood Commercial. 2023 property taxes totaled $6,803.50, with special installments of $1,220.63 and a balance of $5,333.49. This is a turnkey investment ready for immediate income generation. The asking price for this exceptional property is $530,000.

Highlights

  • Full brick exterior.
  • Coin-operated laundry on each floor.
  • On-site parking.
  • Potential gross rent of $58,440 on October 1, 2024.
  • 2023 property taxes: $6,803.50 ($1,220.63 special installments, $5,333.49 balance).

Property Details for 1500 1St Ave

Property type
Multifamily properties, Apartment buildings
Square Feet
6,945 SF
Year Built
1977
Buildings
1
Stories
3
Units
6

Location Insight

City
Mandan
County
Morton
State
North Dakota
Latitude
46.8395294954
Longitude
-100.89424792891
1500 1St Ave, Mandan, North Dakota
Leaflet | © OpenStreetMap contributors

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1500 1St Ave
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