1. North Dakota
2. Fargo
3. 120 University Drive S

120 University Drive S, Fargo, ND 58103

• 2,873 sqft

Property Description

Investor Alert—this fully renovated 4-plex, originally built in 1890, offers a rare combination of historic charm and modern upgrades. Over its 135-year history, the property has gone through many phases, and while it does have some expected quirks like uneven floors, a gravel parking lot, and no garage or yard, tenants have loved living here thanks to the extensive improvements made by the current owner. Over the past three years, the property has been stabilized and transformed into a strong, cash-flowing asset with a current rent roll of $5,300 per month. Recent upgrades include a roof that’s less than 10 years old, nearly all new windows, new PEX & PVC water and sewer lines including vent stacks, a full drain tile system, spray foam insulation around the perimeter, full electrical update throughout including each unit's own panel, new drywall, paint, flooring, doors, and trim throughout, as well as fully modernized kitchens with new cabinets, countertops, and appliances. Each unit has its own washer, dryer, and dishwasher, along with new heating and cooling systems. The building is made up of two 2-bedroom, 1-bath units and two 3-bedroom, 1-bath units, all featuring in-unit laundry. One of the 2-bedroom units was recently furnished and successfully rented for $1,800 per month, showing potential for short or mid-term rental strategies. Whether you’re an investor looking for a low-maintenance, turn-key income property or an owner-occupant interested in house hacking, this is a rare opportunity to own one of the most thoroughly updated multi-family properties on the market.

Listing Status:

Pending

Listing Office:

REAL (3961 WF) : 605-949-2763

MLS ID:

6730889

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This listing courtesy of REAL (3961 WF)