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2302 30th Ave S
Grand Forks, ND 58201
Ridgewood Apartments · Multifamily Property For Sale
·
89 Units
PROPERTY FACTS
| No. Units | 89 | Lot Size | 4.60 AC |
| Property Type | Multifamily | Building Size | 76,886 SF |
| Property Subtype | Apartment | No. Stories | 3 |
| Apartment Style | Low-Rise | Year Built | 1987 |
| Building Class | C | Parking Ratio | 2.35/1,000 SF |
| No. Units | 89 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 4.60 AC |
| Building Size | 76,886 SF |
| No. Stories | 3 |
| Year Built | 1987 |
| Parking Ratio | 2.35/1,000 SF |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Dishwasher
- Washer/Dryer
- Walk-In Closets
- Porch
SITE AMENITIES
- 24 Hour Access
- Controlled Access
- Fitness Center
- Laundry Facilities
- Property Manager on Site
- Sauna
- Spa
- Laundry Service
- Elevator
ABOUT 2302 30TH AVE S , GRAND FORKS, ND 58201
ALL OFFERS DUE VIA A SIGNED PSA BY 5 PM ON 4/19/18! The Ridgewood Apartments have become available for sale for the first time since 1993. During this time, the same party has owned and managed the property with great attention to detail. In addition to the Ridgewood Apartments, the same party is offering for sale the Wellington Townhomes in Grand Forks. The Wellington Townhomes consist of 72 units, 52 of which have one bedroom and 20 of which have two bedrooms. 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. Ridgewood Apartments have been a consistently profitable investment and offer a buyer a 75% occupied building with potential to increase occupancy. Current rents average $725 per unit which could be increased with the proper investment and management. The offered sale price of $4,800,000 translates to just under $54,000 per unit.
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| Studios | 8 | $545.00 | 477 |
| 1+1 | 36 | $625.00 | 557 - 750 |
| 2+2 | 27 | $850.00 | 1,040 |
| 3+2 | 18 | $950.00 | 1,257 |
PROPERTY TAXES
| Parcel Number | 44121900016000 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $2,807,500 |
PROPERTY TAXES
