1300 America AveBemidji, MN 56601

Property Details for 1300 America Ave

Year built

1940

Construction

WOOD

Lot size

0.32 AC

Property size (Sq ft)

7,400 SF

Property type

High-rise multifamily apartments

APN

80.01602.00

APU

800160200

Description

This exceptional 10-unit apartment complex presents a lucrative investment opportunity in Bemidji, Minnesota. Strategically located just five blocks from Bemidji State University, this property enjoys a high demand for student and young professional housing. The low-rise building boasts a total of 5,312 square feet and sits on a 0.56-acre lot. The complex comprises six two-bedroom units and four studio/efficiency apartments, all conveniently situated on a single level with private entrances. Residents benefit from off-street parking, including six garages, and the added convenience of on-site laundry facilities located in the basement. The property boasts an excellent rental history, demonstrating consistent occupancy and reliable income generation. Furthermore, the sale includes three additional vacant lots, offering significant potential for future expansion or development. This well-maintained property represents a rare opportunity to acquire a turnkey investment with strong cash flow and significant upside potential in a desirable location. The asking price is $599,900. This is a truly exceptional opportunity for investors seeking a stable and profitable addition to their portfolio. The property's proximity to Bemidji State University ensures consistent tenant demand, while the existing infrastructure and well-maintained condition minimize immediate capital expenditures. The inclusion of three additional lots provides significant flexibility for future growth and expansion.

• CAP approach

  CAP return

  Valuation

  6%

  $1,887,920

  6.5%

  $1,742,700

  7%

  $1,618,220

• Comparable approach

  Method

  Valuation

  Relative Method

  $441,904

  Geo Method

  $441,904

• Alternative Use

  Use

  Valuation

  Industrial / Distribution

  $2,810,720

  Retail / Commercial

  $1,439,650

  Mixed-Use / Specialty

  $1,433,210

  Hospitality / Lodging

  $1,049,790

  Office

  $1,423,320

  Institutional / Educational

  $1,489,490

  Multifamily

  $2,097,390

  Automotive / Energy

  $1,276,700

  Parking / Income-Based Land

  $441,874

  Restaurant / Food Service

  $742,615

  Healthcare / Senior Housing

  $1,471,070

Location Insight

City

Bemidji

County

Beltrami

State

Minnesota

Latitude

47.4808

Longitude

-94.8839

CBSA code

13420

CBSA name

BEMIDJI, MN MICROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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