Villa May 2
Multifamily | 18 Units | $56,944/unit
Marketing description
This rural housing community in Mayville, ND, consist of an 18-unit apartment building. Designed to serve individuals and families, the properties offer comfortable and efficient apartment living in a quiet, residential setting. Features an average unit size of 860 square feet. This property includes essential amenities such as on-site laundry facilities and and generous storage space. Conveniently located near schools, healthcare services, and local businesses, these apartments provide a reliable and affordable housing option for residents of the Mayville area.
Offering Memorandum available upon request. Additional multifamily buildings available and can be included as part of a package deal.
Investment highlights
Property Details:
94% occupancy, 61% units turned over.
Current management requires 12 month leases on all units
Superior management team has carefully vetted all renters
$30/mo pet rental fee per pet
Repairs and maintenance kept up on
Coin operated laundry
45 minutes from Grand Forks, 60 minutes from Fargo
Short walk to Mayville State University with approximately 1,000 students
Lack of new competition in the market
Improvements
Exterior:
Newer siding.
New roof.
Garage siding updated.
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