208 2nd St NW - Apartments FOR SALE


East Grand Forks, MN 56721
$6,000,000 USD
612-270-4730
208 2nd St NW, East Grand Forks, MN for Sale
$6,000,000 USD
Apartments - FOR SALE
1/9
null | 8% Cap Rate

208 2nd St NW
East Grand Forks, MN 56721


HIGHLIGHTS

  • Exclusive First-Time Sale
  • 81-Unit High-Demand Building: Large asset ensuring stable cash flow.
  • Attractive Unit Mix: 78 one-bedroom and 3 two-bedroom units.
  • Substantial Value-Add Potential
  • Diverse Income Opportunities
  • Limited Entry in Tight Market | Strong Long-Term Appreciation Potential

OVERVIEW

• First Time Ever Offered for Sale A truly rare opportunity to acquire a legacy property that has never previously traded — assets of this scale almost never come to market in Grand Forks. • 81-Unit Building in a High-Demand Market One of the largest residential assets in the submarket, offering immediate scale, durable cash flow, and long-term hold appeal. • Highly Desirable & Efficient Unit Mix – 78 One-Bedroom / 3 Two-Bedroom Units Ideal for today’s renter profile — strong demand for affordable, efficient living driving consistent absorption and rent growth. • Significant Value-Add Through Interior Modernization Clear upside through unit upgrades, finishes, appliances, and amenities to capture market rents and increase NOI. • Underutilized Revenue Enhancement Opportunities Ability to implement strategic rent increases, RUBS, parking, laundry, and premium unit finishes to drive additional income. • Rare Entry Point Into a Supply-Constrained Multifamily Market Limited new development of assets this size creates built-in pricing power over time. • Long-Term Appreciation with Scalable Upside Investors benefit from immediate income with a clear path to forced appreciation through thoughtful repositioning.

FOR SALE DETAILS

PRICE

$6,000,000 USD

PRICE/SF

$127 USD /SF

# OF UNITS

81

PRICE/UNIT

$74,074

CAP RATE

8%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Town Square Apartments

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Mid-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

5

YEAR BUILT

1978

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.07 AC

LAND SF

3,049 SF

ZONING

-

APN/PARCEL ID

83.00773.00,83.00775.00,83.00778.00

ASK ABOUT THIS PROPERTY

Robert DulinCushman & WakefieldMore Info
612-270-4730

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Robert DulinCushman & WakefieldMore Info
612-270-4730

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.