1610 Business E Loop Jamestown, ND 58401-5951

Property Details for 1610 Business E Loop

Property type

Commercial real estate

APN

74-3927000

APU

743927000

Description

This exceptional 16-unit apartment building presents a compelling investment opportunity in Jamestown, North Dakota. Located at 1610 Business Loop E, this single-story, 1960-built property boasts 6,000-6,884 square feet of finished space, including a sunroom and deck. The property features a mix of one- and two-bedroom apartments, as well as efficiency units, all benefiting from recent renovations. These upgrades include the installation of a fire sprinkler system, enhancing both safety and value. Further adding to the property's appeal is the inclusion of on-site coin-operated laundry facilities, generating additional revenue streams. The property's strong financial performance is evidenced by a current Net Operating Income (NOI) of $84,206, translating to an attractive 11.40% capitalization rate. The asking price is $738,900, representing a price per unit of $46,181.25. The building is conveniently situated 0.6 miles north of I-94, providing easy access to major transportation routes. An independent appraisal supports the asking price. Seller financing options may be available. The buyer is responsible for verifying square footage and acreage. This is a stabilized investment property with high occupancy and a proven track record of cash flow. The property was formerly a motel, and has been successfully converted into a multi-family complex. The owner has employed effective marketing strategies resulting in consistently high occupancy rates.