This feature is unavailable at the moment.
We apologize, but the feature you are trying to access is currently unavailable. We are aware of this issue and our team is working hard to resolve the matter.
Please check back in a few minutes. We apologize for the inconvenience.
- LoopNet Team
1415 8th Ave S
Grand Forks, ND 58201
Wellington Townhomes · Multifamily Property For Sale
·
72 Units
PROPERTY FACTS
| No. Units | 72 | Building Size | 58,588 SF |
| Property Type | Multifamily | Average Occupancy | 100% |
| Property Subtype | Apartment | No. Stories | 3 |
| Apartment Style | Garden | Year Built | 1989 |
| Building Class | B | Parking Ratio | 2.46/1,000 SF |
| Lot Size | 3.80 AC |
| No. Units | 72 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | B |
| Lot Size | 3.80 AC |
| Building Size | 58,588 SF |
| Average Occupancy | 100% |
| No. Stories | 3 |
| Year Built | 1989 |
| Parking Ratio | 2.46/1,000 SF |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Dishwasher
- Fireplace
- Heating
- Kitchen
- Refrigerator
- Oven
- Tub/Shower
- Walk-In Closets
- Patio
SITE AMENITIES
- 24 Hour Access
- Property Manager on Site
- Smoke Free
- Walk-Up
- Smoke Detector
ABOUT 1415 8TH AVE S , GRAND FORKS, ND 58201
ALL OFFERS DUE VIA A SIGNED PSA BY 5 PM ON 4/19/18! The Wellington Townhomes have become available for sale for the first time since 1992. During this time, the same party has owned and managed the property with great attention to detail. In addition to the Wellington Townhomes, the same party is offering for sale the Ridgewood Apartments in Grand Forks. The Ridgewood Apartments consist of 89 units ranging from efficiency to three bedroom. Ridgewood and Wellington could be purchased together which presents a buyer with a unique opportunity to add a diverse mix of multi-family units to their portfolio with one transaction. The Wellington Townhomes have been a consistently profitable investment and offer a buyer a turn-key multi-family complex with 94% occupancy. Current rents average $739 per unit which could be ramped up with the proper investment and management. The offered sale price of $4,000,000 translates to about $56,000 per unit.
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 52 | $700.00 | 980 |
| 2+2 | 20 | $925.00 | 1,040 - 1,257 |
PROPERTY TAXES
| Parcel Number | 44320300054000 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $714,000 |
PROPERTY TAXES
