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1221 S 15th Street, 
Grand Forks, ND 58201

$300,000

Last List Price

8

Beds


4

Baths


3,264

Sq Ft


Multi-Family

Sold

Listed by

Derek Hogenson

Real (3961 Wf)

605-949-2763

MLS#

7064793

Source:

ND FMAAR

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About This Home

1221 S 15th Street

Turnkey 4-plex investment opportunity in the heart of Grand Forks with strong rental history and significant upside potential. This well-maintained property features four 2-bedroom, 1-bath units, offering a solid foundation for both seasoned and entry-level investors. The property is fully leased with a diverse tenant base, including long-term occupancy—one tenant in place since 2001—providing immediate and reliable income stability. Current gross monthly rents total $2,905, with additional income from on-site laundry bringing total annual income higher. Investors will appreciate the clear value-add opportunity: comparable 2-bedroom units in the Grand Forks market are renting between $800-$1,000 per month, leaving substantial room to increase cash flow over time. Whether through strategic rent adjustments or future unit updates, this property offers a path to significantly improved returns. Situated in a highly desirable rental location near the University of North Dakota, the property benefits from consistent rental demand. Tenants enjoy convenient access to grocery stores, daycare facilities, and multiple schools within a one-mile radius, along with nearby public transportation options—making it an attractive and practical place to live. Additional features include two single-stall garages, driveway parking, and ample street parking, enhancing tenant convenience and overall property appeal. This is a rare opportunity to acquire a stabilized, income-producing asset with built-in upside in a strong rental market. Ideal for investors seeking immediate cash flow with long-term growth potential.

Home Facts

Multi-Family

4 Baths

8 Bedrooms

Built in 1968

Subdivision & Development:

Villards Add

Price Summary

300,000

$91 per Sq. Ft.

MLS #:

7064793

Sold:

May 29, 2026


Rooms & Interior

Bedrooms

Total Bedrooms:

8

Bathrooms

Total Bathrooms:

4

Interior

Living Area:

3,264 Sq. Ft.


Structure

Structure

Building Area:

3,264 Sq. Ft.

Year Built:

1968


Lot

Lot Size (Sq. Ft):

6,969


Finances & Disclosures

Finances

Price:

$300,000

Price per Sq. Ft:

$91 per Sq. Ft.

Source:ND FMAAR
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