217 Chestnut StGrand Forks, ND 58201

Property Details for 217 Chestnut St

Year built

1903

Lot size

0.32 AC

Property size (Sq ft)

11,072 SF

Property type

Other commercial real estate

APN

44300400074000

APU

44300400074000

Description

This well-maintained, 8-unit apartment building located at 217 Chestnut St, Grand Forks, ND 58201, presents a compelling investment opportunity. The property boasts a strong 6.45% capitalization rate and a current NOI of $86,718, with 100% occupancy projected until November 14, 2024. The building is a two-story Class B multifamily property, featuring a mix of one, one-and-a-half, and three-bathroom units. Significant renovations were completed in 2016, 2018, and 2022, ensuring the property is in excellent condition and ready for immediate income generation. The asking price is $1,345,000. The property's historical character has been preserved while incorporating modern updates, creating a desirable living environment for tenants. Detailed information is available in the attached brochure. This is a rare opportunity to acquire a stable, high-performing multifamily asset in a growing market. The property is being offered for sale by owner. This is a turnkey investment, ideal for an experienced investor seeking a strong return on investment. The property's location in Grand Forks, North Dakota provides access to a stable rental market. Don't miss this chance to add a valuable asset to your portfolio.

• Alternative Use

  Use

  Valuation

  Residential

  $2,330,030

  Hospitality

  $2,134,295

  Educational

  $1,775,708

  Medical

  $1,836,778

  Retail

  $2,762,213

Location Insight

City

Grand Forks

County

Grand Forks

State

North Dakota

Latitude

47.9197

Longitude

-97.0297

CBSA code

24220

CBSA name

GRAND FORKS, ND-MN METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

FAQs

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