525 7 Avenue E, West Fargo, ND 58078

$324,000
Property Type: Multi-Family Square Footage: 3,432 Lot Size (sq. ft.): 7,930 Status: Closed
Current Price: $324,000 List Date: 3/09/2023 Last Modified: 8/08/2025

Overview

Description

Tremendous cash flow. This three plex has been completely updated in the last year and is fully rented for $2,925/month. Too many updates to list. Don't miss this great investment opportunity to add to or start building your portfolio. Locate in a quiet and growing neighborhood, walking distance to the Hulbert Aquatic Center and Eastwood Elementary and just blocks from the booming downtown West Fargo area, you won't want to miss this one!, Unit 1 Total Baths: 1, Unit 2 Total Baths: 1, Unit 3 Total Baths: 1, Total Parking Spaces: 4, Income/Expenses: (Total Income: 35400.00, Management: 2832.00, Utilities: 1800.00, Maintenance: 1500.00, NOI: 28068.00), Unit 2 Kitchen: YES, Unit 3 Kitchen: YES, Unit 1 Kitchen: YES

Listing Details MLS# 7368513

General Property Information

Lot Measurement
Square Feet
Lowest Rental Unit
Garden Level
Multiple PIDs?
No
Year Built
1970
Yearly/Seasonal
Yearly
Zoning
Residential-Multi-Family
Above Ground SqFt
1716
Below Grd Total SqFt
1716
Total SqFt
3432
Lot Size SqFt
7930
Total Finished Sqft
3432.00
Garage Stalls
2
Assessment Pending
Unknown
Bath Three Quarters
0
Bath Half
0
Bath Quarter
0

Property Features

Exterior: Fiber Board Financing Terms: Cash Fuel: Natural Gas; Oil Heating: Baseboard; Hot Water Owner Pays: Electricity; Heat Roof: Asphalt Shingles Sellers Terms: Trade Sewer: City Sewer/Connected Showing Requirements: Appointment Only Tenant Pays: Electricity; Other Unit 1 Appliances: Gas Water Heater Unit 1 Cooling: Wall; Window Unit 2 Appliances: Gas Water Heater Unit 2 Cooling: Wall; Window Unit 3 Appliances: Gas Water Heater Unit 3 Cooling: Wall; Window Water: City Water/Connected

Contract Information

Digitally Altered Photos
No
Exclusions
None
Off Market Date
2023-05-02
Contingency
Inspection
Closed Date
2023-05-19
Original List Price
325000
ListPrice
319000
Sales Close Price
324000
Auction?
No

Location Tax and Other Information

House Number
525
Street Name
7
Street Suffix
Avenue
Street Direction Suffix
E
Postal City
West Fargo
County
Cass
State
ND
Zip Code
58078

Assessments

Assessment Installment
62.96
Drain Assessment
111.87
Assessments Paid Seller
0

Building Information

Finished SqFt Above Ground
1716
Finished SqFt Below Ground
1716

More Information

Income and Expenses

Annual Gross Income
35400
Annual Insurance Expense
1200
Annual Maintenance Expense
6132
Annual Net Income
28068
Total Annual Expenses
7332

Ownership

Fractional Ownership
No

Unit 1

Furnished?
No
Leased?
Yes
Unit Number
Yes
Annual Rent
7800
Monthly Rent
650
No. of Units Like This
Yes
Total Baths
Yes
Total Bedrooms
Yes

Unit 2

Furnished?
No
Leased?
Yes
Unit Number
2
Annual Rent
11400
Finished SqFt
858
Monthly Rent
950
No. of Units Like This
Yes
Total Baths
Yes
Total Bedrooms
2

Unit 3

Furnished?
No
Leased?
Yes
Unit Number
3
Annual Rent
16200
Finished SqFt
1716
Monthly Rent
1350
No. of Units Like This
Yes
Total Baths
Yes
Total Bedrooms
3

Unit Details

Total Units
3

Office/Member Info

Association
FMR

Location, Tax and Other Information

High School
West Fargo
Legal Description
EASTRIDGE 2ND LOT 13 BLK 5
Listing City
West Fargo
Map Page
999
Municipality
West Fargo
School District
West Fargo
Map Coordinate Source
RETS
Country
US
Property ID Number
02030001080000
Square Footage Source
County Records
Tax Year
2022
Tax Amount
2919.33
In Foreclosure?
No
Potential Short Sale?
No
Lender Owned?
No

Directions & Remarks

Public Remarks
Tremendous cash flow. This three plex has been completely updated in the last year and is fully rented for $2,925/month. Too many updates to list. Don't miss this great investment opportunity to add to or start building your portfolio. Locate in a quiet and growing neighborhood, walking distance to the Hulbert Aquatic Center and Eastwood Elementary and just blocks from the booming downtown West Fargo area, you won't want to miss this one!, Unit 1 Total Baths: 1, Unit 2 Total Baths: 1, Unit 3 Total Baths: 1, Total Parking Spaces: 4, Income/Expenses: (Total Income: 35400.00, Management: 2832.00, Utilities: 1800.00, Maintenance: 1500.00, NOI: 28068.00), Unit 2 Kitchen: YES, Unit 3 Kitchen: YES, Unit 1 Kitchen: YES

Exterior

Fiber Board
Yes

Financing Terms

Cash
Yes

Fuel

Natural Gas
Yes
Oil
Yes

Heating

Baseboard
Yes
Hot Water
Yes

Owner Pays

Electricity
Yes
Heat
Yes

Roof

Asphalt Shingles
Yes

Sellers Terms

Trade
Yes

Sewer

City Sewer/Connected
Yes

Showing Requirements

Appointment Only
Yes

Water

City Water/Connected
Yes

Tenant Pays

Electricity
Yes
Other
Yes

Unit 1 Appliances

Gas Water Heater
Yes

Unit 1 Cooling

Wall
Yes
Window
Yes

Unit 2 Appliances

Gas Water Heater
Yes

Unit 2 Cooling

Wall
Yes
Window
Yes

Unit 3 Appliances

Gas Water Heater
Yes

Unit 3 Cooling

Wall
Yes
Window
Yes
IDX
Listing Office: eXp Realty (3120 FGO)
Last Updated: August - 08 - 2025
The data relating to real estate for sale on this web site comes in part from the Broker Reciprocity SM Program of the Regional Multiple Listing Service of Minnesota, Inc. The information provided is deemed reliable but not guaranteed. Properties subject to prior sale, change or withdrawal. ©2024 Regional Multiple Listing Service of Minnesota, Inc All rights reserved.

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