Property Listing
Description
Turnkey 4-plex investment opportunity in the heart of Grand Forks with strong rental history and significant upside potential. This well-maintained property features four 2-bedroom, 1-bath units, offering a solid foundation for both seasoned and entry-level investors. The property is fully leased with a diverse tenant base, including long-term occupancy—one tenant in place since 2001—providing immediate and reliable income stability. Current gross monthly rents total $2,905, with additional income from on-site laundry bringing total annual income higher. Investors will appreciate the clear value-add opportunity: comparable 2-bedroom units in the Grand Forks market are renting between $800-$1,000 per month, leaving substantial room to increase cash flow over time. Whether through strategic rent adjustments or future unit updates, this property offers a path to significantly improved returns. Situated in a highly desirable rental location near the University of North Dakota, the property benefits from consistent rental demand. Tenants enjoy convenient access to grocery stores, daycare facilities, and multiple schools within a one-mile radius, along with nearby public transportation options—making it an attractive and practical place to live. Additional features include two single-stall garages, driveway parking, and ample street parking, enhancing tenant convenience and overall property appeal. This is a rare opportunity to acquire a stabilized, income-producing asset with built-in upside in a strong rental market. Ideal for investors seeking immediate cash flow with long-term growth potential.
Property Information
Status: Active
Sub Type: ********
List Price: $300,000
MLS#: 7064793
Current Price: $300,000
Address: 1221 S 15th Street, Grand Forks, ND 58201
City: Grand Forks
State: ND
Postal Code: 58201
Geo Lat: 47.909447
Geo Lon: -97.047851
Subdivision: Villards Add
County: Grand Forks
Property Description
Year Built: 1968
Lot Size SqFt: 6969.6
Gen Tax: 4117.32
Specials Inst: 613.28
High School: Grand Forks
Square Ft. Source:
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Total SqFt.: 3264
Style: Array
Total Bedrooms: 8
Total Bathrooms: 4
Total Full Baths:
Garage Type:
Garage Stalls: 2
Waterfront:
Property Features
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Lot Feat/Fld Plain: Array
Interior Amenities:
Inclusions: ********
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