809 Oak St Lisbon, ND 58054

Property Details for 809 Oak St

Property type

Commercial land

APN

28-5097000

APU

285097000

Description

This exceptional investment opportunity presents an eight-unit multi-family property situated at 809 Oak Street in Lisbon, North Dakota. The property, known as St. Aloysius, boasts a rich history, originally serving as a school before its conversion into apartments in 1979. This three-story building offers a mix of four two-bedroom units and four one-bedroom units, providing a diverse rental portfolio. Significant updates have been implemented throughout the units, enhancing their appeal and functionality. Residents enjoy the convenience of a coin-operated laundry facility located within the building. Ample parking is available, with a four-stall attached garage and an additional five off-street parking spaces. The property benefits from a recently replaced roof, ensuring long-term structural integrity. St. Aloysius is currently professionally managed, demonstrating consistent high occupancy rates and a strong financial performance, currently achieving an 8.5% capitalization rate. This property is situated on a 0.32-acre lot and encompasses 5,445 square feet of space. Further enhancing its investment potential, this property is eligible for Renaissance Zone Incentives, offering potential tax advantages. Priced at $299,900, this is a rare opportunity to acquire a well-maintained, high-performing multi-family asset in a desirable location.

Location Insight

City

Lisbon

County

Ransom

State

North Dakota

Longitude

-97.6827

Latitude

46.4383

Property Tax & Assessments