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MLS# 7064793 - 1221 S 15th Street Grand Forks, ND 58201

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.

REAL (3961 WF) is the brokerage office representing the owner for this listing.
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Heartland Real Estate | Melanie Mix is not a Multiple Listing Service (MLS), nor does it offer MLS access. This website is a service of Heartland Real Estate | Melanie Mix, a broker participant of the Regional Multiple Listing Service of Minnesota, Inc. Northstar MLS data last updated at 5/2/2026 1:49:00 AM.