121 1st NE Ave Golden Valley, ND 58541-7120

Property Details for 121 1st NE Ave

Lot size

11.41 lot acres

Property type

Commercial real estate

APN

GG14490011204

APU

GG14490011204

Description

This well-maintained, single-story, nine-unit apartment building presents a compelling investment opportunity in Golden Valley, North Dakota. Located at 121 1st Ave NE, 58541, this property boasts 6,960 square feet on a spacious 22,500 square foot lot (150' x 172'). Constructed in 1979, the building features eight one-bedroom, one-bathroom units and one larger studio apartment. All units are ground level, offering convenience and accessibility. Amenities include stoves, refrigerators, ample storage, and handicap-accessible bathrooms. Two coin-operated laundry rooms provide added convenience for residents. The property enjoys a strong rental history, with an annualized gross rent of approximately $61,000 and a net operating income (NOI) of approximately $34,500, resulting in a pro-forma cap rate of 8.63%. The asking price is $399,900, translating to $44,433.33 per unit and $57.46 per square foot. Its proximity to power plants and mines in the area contributes to a consistently solid rental market. The property is conveniently situated just off Highway 200, approximately 20 minutes from Beulah and 30 minutes from Killdeer. This is a hands-off investment opportunity with a proven track record.

Location Insight

City

Golden Valley

County

Mercer

State

North Dakota

Longitude

-102.063

Latitude

47.2904

Property Tax & Assessments