2316 E Broadway Avenue
Bismarck, ND, 58501 $ 927,000
Baths0.0 Sq 6,544 Monthly Estimate*
$ 6,161
Studio
for $927,000. This 6,544 square foot building was built in 1955 on a lot size of 0.482.
Great Opportunity to own your own business with Mark V Studio Apartments this consists of 15 units can be used as a Motel, Hotel, Extended Stay or monthly or long-term rentals in the heart of Bismarck that's Centrally Located near shopping, downtown facilities, job placement services, salons, health care, & more. This investment has been updated throughout every unit and has been in the family since 1980. These units are all on a month to month, no leases, background checks for safety and security deposits for cleaning. Tenants love this private setting, location & management and currently three units have stayed since 2004, 2005 and the longest tenant stayed is approx. 20 years (WOW)! These 15 apartments feature: 2- one bedroom & one bathroom includes a shower, 12- studio's & one bathroom that includes a shower. All these units are FULLY FURNISHED which include bed, recliner, table, kitchen with fridge, microwave, some have a range, utensils, towel sets, coffee pot and etc. These updated units are all fully equipped with everything you need like an extended stay facility. Also includes one large LIVING QUARTERS excellent for modernized living for the owner, management staff or a luxury rental that consists of 3 bedrooms, full bath with tub shower combo, modern updates, tons of built in storage & upgraded stainless steel appliances that include range, fridge, microwave & dishwasher. Also includes a movable electric fireplace, shared entry way, attached laundry, primary bedroom with tray ceiling & wood accents. This is large enough to feel like a single-family home. This unit is private with attached common area for rental management and laundry that are coin operated includes 2 washers, 2- dryers and individual storage compartment with lock and key. This high- occupancy investment has no need for full time employees. Low Maintenance and all utilities are paid by the owner so very easy to manage. This property also consists of a 280 sqft garage, 600 sqft car carport, shed and attached outdoor storage. This Location is surrounded by commercial opportunities, an emergency snow route, shaped like a U so it feels more like a private setting.In the last few years the seller put in several updates including west & north siding, exterior painting, shutters, carpet, painting- 3 apartments, living quarters, entry & laundry room, #5 & #9 full remodel & #8 remodel in process, driveway on west side approx. over $40,000 in updates. With this excellent ownership every year they continued to maintain and modernize this incredible investment property.If all these units are rented the CAP Rate is great a return, depending on vacancy and if the living quarters is rented. This investment has huge potential to make even more. Call agent for rent rolls & expenses. Don't miss this opportunity of a lifetime to own this EXCELLENT WELL-KEPT PROPERTY.
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FeaturesGeneralAmenities Common Laundry Area Lobby No Pets Allowed See Remarks Storage
Sewer Public Sewer
Heating Electric Forced Air Natural Gas Other
Cooling Ceiling Fan(s) Wall/Window Unit(s)
Utilities Electricity Connected Natural Gas Connected Other Phone Connected Sewer Connected Trash Pickup - Public Water Connected
Roof Metal
Garage Yes
Zoning COMMERICAL
Electric Other
Architctural Style Apartment Style Main Floor Unit See Remarks
County Burleigh
Business Type Hotel/Motel Other
Property Type C
Area Bismarck City
Sub Area Bismarck City NE
Accessibility Features Yes
Status Active
Lot Sqft 21000.00
Construction Materials Steel Siding Vinyl Siding
Sub Type Commercial
Year Built 1955
Directions NORTH SIDE OF BROADWAY ON EAST SIDE
City Bismarck
Taxes 5999.00
Legal Description S 15' OF LOT 7 & ALL LOTS 8-12 BLOCK 38GOVERNOR PIERCEAddition Number105
Street Name E Broadway
Coming Soon Great Opportunity to own your own business with Mark V Studio Apartments this consists of 15 units can be used as a Motel Hotel Extended Stay or monthly or long-term rentals in the heart of Bismarck
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ExteriorExterior Features Keyless Entry Other
Lot Features Corner Lot Lot - Owned Other Private See Remarks
Foundation Slab
Lot Dimensions 140 X150
Other Structures Shed(s)
Water Source Public
Parking Features Assigned Carport Detached None
Lot Acres 0.4820
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InteriorBasement None
Flooring Laminate Vinyl
List Price/SqFt 141.66
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* Excluded FeaturesList ByBianco Realty, Inc.Broker
tori@biancorealty.comEmail
Affordability Calculator
- Monthly Principal & Interest
- $6,161
- Monthly Property Taxes
- $500
- Monthly Home Insurance
- --
Default based on a 30-year fixed rate of 6.99% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.
Learn more about how to save NearbyCommerical listings in Bismarck, ND
Average List Price $1,073,247
Percent of Sale Price 16%
About Bismarck, ND 70,887 Population
27% Since 2002
$ 62,145 Median Income
39.15 Median Age
25% Households with Children
Trends Information provided by ATTOM Data Solutions.
2403247 Elementary School
2403252 Middle School
Unknown High School High School
Pricing HistoryDate | Price | Price Change | Description |
---|
10/27/2023 | $927,000 | | Listed Price |