Auction Note
*** MORE INFORMATION COMING SOON!***
Multi-Family Buildings & Office Auction
Commercial Buildings – Dickinson, ND
Thursday, October 27, 2016 – 2:00 p.m. (MT)
Auction Location: Ramada Grand Dakota Hotel – Dickinson, ND
Auction Note:
This is a unique opportunity to have a chance at a live public auction for anyone of these seven income producing properties in Dickinson, North Dakota.
The DSU Alumni Foundation is offering these profitable properties turn-key, with all current leases in place. These multi-family units are located near the University and hold many possibilities to continue with Student Housing, or provide living for any current or future resident of Dickinson, ND.
Additionally, the DSUF Headquarters Office will also be offered at this event. This office building provides a classy, professional atmosphere, and a breathtaking first impression as potential clients or customers walk in the foyer.
Join Pifer's Auction & Realty, October 27 at the Ramada Grand Dakota Hotel in Dickinson, ND. This Will be one investment opportunity in a thriving community that you will not want to miss out on!
Each of these properties are subject to prior sale.
Contact: Andy Mrnak at 701.206.1095 or Jim Sabe at 701.523.6283 for more information, or Pifer’s Auction & Realty at 877.700.4099 for a complete catalog.
Property Information:
Property 1: Main Office
Address: 230 8th Ave. W., Dickinson, ND
Legal Description: Lots 8-11, Block 37, Young’s 7th Addition
Parcel Number: 0370-3700-0800
Lot Dimensions: 200’ x 141’
Lot Square Feet: 28,200
Zoning: R3 Residential District with Special Use Permit
Total Size: 37,055 Sq. Ft.
Building Information:
Year Built: 2004
Style: Executive Office
Square Feet: 4,134
Est. Taxes: $2,043.48
Construction: Asphalt Shingles, Stucko Siding with Brick accents
Foundation: Cement
HVAC: Forced Air/Central Air
Other Features: Grand Landscaping Design, Rock Scape, Waterfalls, Decorative Sidewalk Design, Business Sign, Modern Interior and Hardwood Floors.
Property 1 Note:
This is an exceptionally well designed professional office space located just off of the southeast corner of the Dickinson State University Campus. The street side architecture provides an inviting atmosphere and a tremendous first impression for clients and customers. Additionally, the DSU Home is surrounded by an exquisite landscape design with rock works and a waterfall. The building itself has an integrated sound system that is perfect for day to day background music, or a PA system for entertaining a large crowd. The inside design of the building will open anyone’s eyes as they enter the grand foyer and see all of the tremendous woodwork and modern architecture.
Property 1a: South Vacant Lot
Address: 734 2nd St. W., Dickinson, ND
Legal Description: Lot 7, Block 37, Young’s 7th Addition
Parcel Number: 0370-3700-0700
Lot Dimensions: 56’ x 141’
Lot Size: 7,896 Sq. Ft.
Property 1b: North Lot with Garage
Address: 246 8th Ave. W., Dickinson, ND
Legal Description: W 72’ of Lot 12, Block 37, Young’s 7th Addition
Parcel Number: 0370-3700-1201
Lot Dimensions: 56’ x 72’
Lot Square Feet: 4032
Building Information:
Year Built: 1986
Style: Detached Garage
Dimensions: 12’ x 24’
Property 2: Altringer Apartments
Address: 127 11th Ave. W., Dickinson, ND
Legal Description: Lots 2-3 Block 4, Auditors Plat 4
Parcel Number: 0610-0400-0200
Year Built: 1972
Zoning: R3 High Density Residential District
Total Size: 13,655 Sq. Ft.
NRA: 11,475 Sq. Ft.
Number of Units: 18
1 Bed/1 Bath: 1 - Apartment Size: 375 Sq. Ft.
2 Bed/1 Bath: 5 - Apartment Size: 600 Sq. Ft.
2 Bed/1 Bath: 12 - Apartment Size: 675 Sq. Ft.
Lot Information:
Lot Size: 21,966 Sq. Ft.
Parking: 24 Spaces
Financial Summary:
7/13-6/14
7/14-6/15
7/15-6/16
Revenue
$75,496.00
$162,702.70
$131,297.53
Occupied
21
Expense
$40,338.22
$143,210.96
$53,450.71
Capacity
35
Net Income
$35,157.78
$19,491.74
$77,846.82
OCC. %
60%
*Detailed financial report available by request
Starting Bid: $952,000
Property 2 Note:
This is a long-standing building and a staple for student housing that is only a block from the south side of the Dickinson State University Campus. This 18-unit apartment building has been updated and well-maintained over the years. In addition to the brick structure, this sturdy built complex is low maintenance and will provide an immediate Return On Investment.
Property 3: Miller Building
Address: 145 10th Ave. W., Dickinson, ND
Legal Description: Lot 1 of Block 28, Young’s 5th Addition
Parcel Number: 0350-2800-0100
Year Built: 1948 and 1966
Zoning: R3 High Density Residential District
Total Size: 4,080 Sq. Ft.
NRA: 3,525 Sq. Ft.
HVAC: Boiler Heat, Window A/C
Features: Vinyl Siding, New Windows, renovated apartments
Number of Units: 6
1 Bed/1 Bath: 2 -Apartment Size: 900 Sq. Ft.
1 Bed/1 Bath: 2 - Apartment Size: 1,000 Sq. Ft.
2 Bed/1 Bath: 1 - Apartment Size: 725 Sq. Ft.
3 Bed/1 Bath: 1 - Apartment Size: 900 Sq. Ft.
Lot Information:
Lot Size: 7,896 Sq. Ft.
Parking: 7 Spaces
Financial Summary:
7/13-6/14
7/14-6/15
7/15-6/16
Revenue
$20,000.00
$41,612.00
$41,830.00
Occupied
6
Expense
$26,554.98
$58,626.58
$13,972.18
Capacity
7
Net Income
($6,554.98)
($17,014.58)
$27,857.82
OCC. %
85.71%
*Detailed financial report available by request
Starting Bid: $182,000
Property 3 Note:
Do not let the size of this apartment building fool you! This 6-unit complex is perfectly located across the street on the south side of the DSU Campus and is in high demand for student housing. The DSU Foundation has invested into many capital improvements over the past 36 months including flooring, windows, sidewalks, cement driveway, etc. Furthermore, the Miller Home is currently at 85% occupancy and will provide immediate revenue.
Property 4: Bosch Apartments
4a:
Address: 36 10th St. E.
Legal Description: Lot 1, Block 1, Hilliard and Manning 3rd Addition, Bosch Sub Division
Parcel Number: 0082-0100-0100
Lot Size: 13,005 Sq. Ft.
Est. Taxes: $3,138.63
Building Information:
Year Built: 1971
Style: 4-Plex Apartment Complex
Dimensions: 29’ x 120’
Main Level: 3,480 Sq. Ft.
Finished Basement: 1,740 Sq. Ft.
Construction: Asphalt Shingles, Wood Deck, Brick and Wood Siding
HVAC: Boiler Heat
Other Features: Built-In Garage with Cement Driveways
4b:
Address: 971 Foster Dr.
Legal Description: Lot 2, Block 1, Hilliard and Manning 3rd Addition, Bosch Sub Division
Parcel Number: 0082-0100-0200
Lot Size: 18,981 Sq. Ft.
Est. Taxes: $3,197.92
Building Information:
Year Built: 1971
Style: 4-Plex Apartment Complex
Dimensions: 29’ x 120’
Main Level: 3,480 Sq. Ft.
Finished Basement: 1,740 Sq. Ft.
Construction: Asphalt Shingles, Wood Deck, Brick and Wood Siding
HVAC: Boiler Heat
Other Features: Built-In Garage with Cement Driveways
4c:
Address: 953 Foster Dr.
Legal Description: Lot 3, Block 1, Hilliard and Manning 3rd Addition, Bosch Sub Division
Parcel Number: 0082-0100-0300
Lot Size: 29,800 Sq. Ft.
Est. Taxes: $3,497.35
Building Information:
Year Built: 1971
Style: 4-Plex Apartment Complex
Dimensions: 29’ x 120’
Main Level: 3,480 Sq. Ft.
Finished Basement: 1,740 Sq. Ft.
Construction: Asphalt Shingles, Wood Deck, Brick and Wood Siding
HVAC: Boiler Heat
Other Features: Built-In Garage with Cement Driveways
4d:
Address: 931 Foster Dr.
Legal Description: Lot 4, Block 1, Hilliard and Manning 3rd Addition, Bosch Sub Division
Parcel Number: 0082-0100-0400
Lot Size: 14,700 Sq. Ft.
Est. Taxes: $3,175.95
Building Information:
Year Built: 1971
Style: 4-Plex Apartment Complex
Dimensions: 29’ x 120’
Main Level: 3,480 Sq. Ft.
Finished Basement: 1,740 Sq. Ft.
Construction: Asphalt Shingles, Wood Deck, Brick and Wood Siding
HVAC: Boiler Heat. One unit has Central Air.
Other Features: Built-In Garage with Cement Driveways
Financial Summary:
7/13-6/14
7/14-6/15
7/15-6/16
Revenue
$68,432.00
$163,385.00
$205,286.00
Occupied
14
Expense
$41,322.02
$75,164.19
$51,184.98
Capacity
16
Net Income
$27,109.98
$88,220.81
$154,101.02
OCC. %
87.5%
*Detailed financial report available by request
Starting Bid: $1,085,000
Property 4a-d Notes:
These four individual 4-plex buildings could potentially be one of the best ND investment opportunities of 2016! These large apartment buildings have an exceptional lease history with many long-term tenants and is located in a quiet neighborhood where everyone looks out for each other. These 2 bedroom, 2 bath homes each have a built in garage with excellent storage, 2 full living rooms, a nice kitchen, and a walk out entry door to the large back yard area that is very appealing to families and tenants looking for extra green space. These units are all very well built, and have been maintained steadily since they were constructed.
Owner: DSU Alumni Foundation
This sale is managed by Pifer’s Auction Company, Kevin Pifer, ND #715. All statements made the day of the auction take precedence over all printed materials. The seller reserves the right to reject or accept any and all bids.
