- For sale
Two Class A, mid-rise communities for sale at 1151 32nd Avenue and 1515 11th Avenue in Fargo, North Dakota. U32 and T-Lofts are adjacent to the North Dakota State University campus. The properties total 414 units/786 beds and were completed in 2017 (U32 Phase I), 2019 (U32 Phase II) and 2011 (T-Lofts).
Visit our property website to view investment details and request the offering memorandum.
Institutionally developed by one of the premier multifamily developers in North Dakota, the properties feature best-in-class amenities including fitness centers, study rooms, underground parking, and at U32, a sauna, hot tub, indoor pool, yoga studio, racquetball court, basketball court and sand volleyball court.
Originally constructed as student housing communities, the properties are currently operated as traditional multifamily properties and are prime candidates for conversion to student housing. By renting by the bed, furnishing units and charging for electricity and cable, new ownership can increase revenue by an estimated $1.45M. U32 also provides a unique opportunity to develop up to an additional, previously approved 117 units adjacent to the existing buildings.