1025 4th Avenue North
New Rockford, North Dakota 58356
APARTMENT FOR SALE
This 12 unit apartment in New Rockford is just the property you have been looking for. The building is a brick structure which makes the exterior pretty maintenance free, the roof is a flat roof and gets checked periodically by an area roofer. There have been a couple of windows replaced as well. There is a large onsite paved parking area.
The 12 units consist of 11 two bedroom units and there is only one 1 bedroom unit. The positive note about that is renters seem to want two bedroom apartments. The building has three levels and situated in a residential area of New Rockford, a city of 1490 residents. At the present time there is only one vacancy. The two bedroom units rent for $330 a month and the one bedroom for $295. The 2007 taxes were $3361.20 and the specials were $305.18 with a balance of $1585.34. The tenants pay their own electrical as each unit is metered individually.
The following upgrades have been completed within the past couple of years:
- 11 refrigerators and 11 stoves were replaced in 2006.
- There are built in wall air conditioners with 3 of them being replaced in August of 2007.
- There are 2 washers and 2 dryers with one washer being replaced in June of 2006.
- There have been 5 tub surrounds replaced since 2006.
- The carpets in the halls and stairways were all replaced in June of 2006.
- There was flooring replaced in three apartments in June of 2006.
- There has been flooring replaced in a number of bathrooms as well.
- The furnace is a hot water boiler operated on natural gas.
The units are very clean and well kept, with each tenant treating the unit as their own “home”! The common laundry area has 2 washers and two dryers and is on the lower unit of the three level complex. The furnace, electrical and water heater are all located in the laundry area. There is mail delivery to the building with each tenant having their own individual box. There are outdoor car outlets for each unit with switches in the apartment to turn the outlet on and off; with each tenant paying their own utilities this is a positive note. There is a small outdoor storage building.
As you enter the building with all the new carpet in the commons area it certainly is an eye opening view that greets you, the apartment would certainly be an investors delight seeing as how so much has been completed and replaced in the past two years. If you’re ready for investment property this may be just the unit for you, with the start of a new tax year, this may be the right time for you to move forward.
$185,000
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Dean Vorland
