727 3rd Street N, Fargo, ND 58102 (MLS# 7127015)

Overview

Description

This 5-unit property represents a perfectly balanced hybrid investment, which gives both stability and high yield performance. This property captures the best of both worlds: three long-term units provide a reliable, steady monthly income, while two units are fully furnished & have a great history with the short-term & mid-term rental market. For the savvy investor, this complex is a turnkey & cash flowing that pairs the security of a classic apartment building with the upside of the hospitality industry. Basement has finished storage units ready to use for extra income plus a basement studio apartment currently used for storage. **24 hour notice required for all showings. Owner/agent

General Property Information

Lot Measurement: Acres
Multiple PIDs?: No
Owner Occupied: No
Waterfront YN: No
Year Built: 1902
Yearly/Seasonal: Yearly
Zoning: Residential-Multi-Family
Above Ground SqFt: 2659
Below Grd Total SqFt: 1241
Total SqFt: 3900
Foundation Size: 1241
Style: (MF) Other
Total Finished Sqft: 3187.00
Lot Dimensions: 42 x 140
Acres: 0.13
Assessment Pending: Yes

Property Features

Accessible: None Assumable Loan: Not Assumable Basement: Concrete Block Construction Status: Previously Owned Existing Financing: Conventional Exterior: Vinyl; Wood Foundation: Concrete Block Fuel: Electric Heating: Baseboard Laundry: Common Area Lock Box Type: Supra Lot Description: Tree Coverage - Medium Owner Pays: Common Area Maintenance; Lawn; Sewer; Snow Removal; Trash Collection; Water Parking Characteristics: Parking Lot Road Frontage: City Street; Paved Streets Road Responsibility: Public Maintained Road Roof: Age Over 8 Years Sellers Terms: Cash; Conventional Sewer: City Sewer/Connected Stories: Two Tenant Pays: Electricity Unit 1 Cooling: Window Unit 3 Cooling: Window Unit 4 Cooling: Window Water: City Water/Connected

Contract Information

Contingency: None
Original List Price: 345000
ListPrice: 345000
Owner is an Agent?: Yes
Auction?: No

Location Tax and Other Information

House Number: 727
Street Name: 3rd
Street Suffix: Street
Street Direction Suffix: N
Postal City: Fargo
County: Cass
State: ND
Zip Code: 58102
Complex/Dev/Subdivision: Lindsays

Assessments

Assessment Balance: 3133.84
Assessment Installment: 990
Tax With Assessments: 5586

Building Information

Finished SqFt Above Ground: 2923
Finished SqFt Below Ground: 264

More Information

Income and Expenses

Annual Electric Expense: 3604
Annual Gross Expenses: 21738
Annual Gross Income: 62602
Annual Insurance Expense: 1900
Annual Net Income: 40864
Annual Trash Expense: 780
Annual Water/Sewer Expense: 1575
Total Annual Expenses: 21738

Lease Details

Land Leased: Not Applicable

Lock Box Type

Lock Box Source: FMR

Miscellaneous Information

DP Resource: Yes
Homestead: No

Ownership

Fractional Ownership: No

Public Survey Info

Range#: 48 West
Section#: 7
Township#: 139 North

Unit 1

Furnished?: No
Lease Expiration Date: 2026-08-31
Leased?: Yes
Unit Number: Yes
3/4 Baths: Yes
Annual Rent: 6600
Monthly Rent: 550
No. of Units Like This: Yes
Oth Parking Spaces: Yes
Total Baths: Yes
Total Rooms: 3

Unit 2

Furnished?: No
Lease Expiration Date: 2026-08-31
Leased?: Yes
Unit Number: 2
Annual Rent: 9540
Full Baths: Yes
Monthly Rent: 795
No. of Units Like This: Yes
Total Baths: Yes
Total Bedrooms: 2
Total Rooms: 5

Unit 3

Furnished?: Yes
Lease Expiration Date: 2027-01-31
Leased?: Yes
Unit Number: 3
3/4 Baths: Yes
Annual Rent: 21210
Monthly Expense: 250
No. of Units Like This: Yes
Oth Parking Spaces: Yes
Total Baths: Yes
Total Bedrooms: 2
Total Rooms: 5

Unit 4

Furnished?: Yes
Lease Expiration Date: 2026-09-30
Leased?: Yes
Unit Number: 4
Annual Rent: 12794
Full Baths: 2
Monthly Expense: 250
No. of Units Like This: Yes
Oth Parking Spaces: 2
Total Baths: 2
Total Bedrooms: 4
Total Rooms: 5

Unit Details

Total Units: 4

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