120 University Drive S, Fargo, ND 58103

$495,000
Property Type: Multi-Family Bedrooms: 10 Baths: 4 Square Footage: 3,259 Lot Size (sq. ft.): 7,293 Status: Active
Current Price: $495,000 List Date: 1/21/2026 Last Modified: 5/27/2026

Overview

Description

Investor Alert—this fully renovated 4-plex, originally built in 1890, offers a rare combination of historic charm and modern upgrades. Over its 135-year history, the property has gone through many phases, and while it does have some expected quirks like uneven floors, a gravel parking lot, and no garage or yard, tenants have loved living here thanks to the extensive improvements made by the current owner. Over the past three years, the property has been stabilized and transformed into a strong, cash-flowing asset with a current rent roll of $5,300 per month. Recent upgrades include a roof that’s less than 10 years old, nearly all new windows, new PEX & PVC water and sewer lines including vent stacks, a full drain tile system, spray foam insulation around the perimeter, full electrical update throughout including each unit's own panel, new drywall, paint, flooring, doors, and trim throughout, as well as fully modernized kitchens with new cabinets, countertops, and appliances. Each u ...

Listing Details MLS# 7009014

General Property Information

Lot Measurement
Square Feet
Multiple PIDs?
No
Owner Occupied
Yes
Year Built
1890
Yearly/Seasonal
Yearly
Main Floor Total SqFt
1086
Above Ground SqFt
2173
Below Grd Total SqFt
1086
Total SqFt
3259
Foundation Size
1086
Lot Size SqFt
7293
Style
(MF) Four Plex
Total Finished Sqft
2873.00
Lot Dimensions
46x140
Assessment Pending
No
Garage Stalls
0

Property Features

Accessible: None Basement: Concrete Block Construction Status: Previously Owned Exterior: Wood Foundation: Concrete Block Fuel: Electric Heating: Other Laundry: In Unit Owner Pays: All Utilities Parking Characteristics: Parking Lot; Gravel Lot Roof: Architectural Shingle Sewer: City Sewer/Connected Stories: Two Unit 1 Appliances: Dishwasher; Dryer; Range; Refrigerator; Washer Unit 1 Cooling: Wall Unit 2 Appliances: Dishwasher; Dryer; Range; Refrigerator; Washer Unit 2 Cooling: Wall Unit 3 Appliances: Dishwasher; Dryer; Range; Refrigerator; Washer Unit 3 Cooling: Wall Unit 4 Appliances: Dishwasher; Dryer; Range; Refrigerator; Washer Unit 4 Cooling: Wall Water: City Water/Connected

Contract Information

Contingency
None
Original List Price
505000
ListPrice
495000
Owner is an Agent?
No
Auction?
No

Location Tax and Other Information

House Number
120
Street Name
University
Street Suffix
Drive
Street Direction Suffix
S
Postal City
Fargo
County
Cass
State
ND
Zip Code
58103
Complex/Dev/Subdivision
Original Townsite

Assessments

Assessment Balance
16820.38
Assessment Installment
2151.32
Tax With Assessments
5365.11

Building Information

Finished SqFt Above Ground
2173
Finished SqFt Below Ground
700

More Information

Income and Expenses

Annual Electric Expense
6480
Annual Gross Expenses
17300
Annual Gross Income
63600
Annual Water/Sewer Expense
2651
Total Annual Expenses
9132
Annual Caretaker Expense
0
Annual Fuel Expense
0
Annual Insurance Expense
0
Annual Maintenance Expense
0
Annual Repair Expense
0
Annual Trash Expense
0

Lease Details

Land Leased
Not Applicable

Miscellaneous Information

DP Resource
Yes
Homestead
No

Ownership

Fractional Ownership
No

Unit 1

Furnished?
No
Lease Expiration Date
2026-07-31
Leased?
Yes
Unit Number
Yes
Annual Rent
16800
Finished SqFt
800
Full Baths
Yes
Monthly Rent
1400
No. of Units Like This
Yes
Total Baths
Yes
Total Bedrooms
3
Total Rooms
6

Unit 2

Furnished?
No
Lease Expiration Date
2026-11-30
Leased?
Yes
Unit Number
2
Annual Rent
16800
Finished SqFt
800
Full Baths
Yes
Monthly Rent
1400
No. of Units Like This
Yes
Total Baths
Yes
Total Bedrooms
3
Total Rooms
6

Unit 3

Furnished?
No
Lease Expiration Date
2026-05-31
Leased?
Yes
Unit Number
3
Annual Rent
15000
Finished SqFt
700
Full Baths
Yes
Monthly Rent
1250
No. of Units Like This
Yes
Total Baths
Yes
Total Bedrooms
2
Total Rooms
5

Unit 4

Furnished?
No
Lease Expiration Date
2026-04-30
Leased?
Yes
Unit Number
4
Annual Rent
15000
Finished SqFt
700
Full Baths
Yes
Monthly Rent
1250
No. of Units Like This
Yes
Total Baths
Yes
Total Bedrooms
2
Total Rooms
5

Unit Details

Total Units
4

Office/Member Info

Association
FMR

Location, Tax and Other Information

Legal Description
ORIGINAL TOWNSITE W 46 2/3' OF S 1/2 BLK 13
Listing City
Fargo
Map Page
999
Municipality
Fargo
School District
Fargo
Zip Plus 4
2300
Property ID Number
01224001850000
Tax Year
2025
Tax Amount
3213.79
In Foreclosure?
No
Potential Short Sale?
No
Lender Owned?
No

Directions & Remarks

Public Remarks
Investor Alert—this fully renovated 4-plex, originally built in 1890, offers a rare combination of historic charm and modern upgrades. Over its 135-year history, the property has gone through many phases, and while it does have some expected quirks like uneven floors, a gravel parking lot, and no garage or yard, tenants have loved living here thanks to the extensive improvements made by the current owner. Over the past three years, the property has been stabilized and transformed into a strong, cash-flowing asset with a current rent roll of $5,300 per month. Recent upgrades include a roof that’s less than 10 years old, nearly all new windows, new PEX & PVC water and sewer lines including vent stacks, a full drain tile system, spray foam insulation around the perimeter, full electrical update throughout including each unit's own panel, new drywall, paint, flooring, doors, and trim throughout, as well as fully modernized kitchens with new cabinets, countertops, and appliances. Each unit has its own washer, dryer, and dishwasher, along with new heating and cooling systems. The building is made up of two 2-bedroom, 1-bath units and two 3-bedroom, 1-bath units, all featuring in-unit laundry. Whether you’re an investor looking for a low-maintenance, turn-key income property or an owner-occupant interested in house hacking, this is a rare opportunity to own one of the most thoroughly updated multi-family properties on the market.
Directions
S University

Accessible

None
Yes

Basement

Concrete Block
Yes

Construction Status

Previously Owned
Yes

Exterior

Wood
Yes

Foundation

Concrete Block
Yes

Fuel

Electric
Yes

Heating

Other
Yes

Laundry

In Unit
Yes

Owner Pays

All Utilities
Yes

Parking Characteristics

Parking Lot
Yes
Gravel Lot
Yes

Roof

Architectural Shingle
Yes

Sewer

City Sewer/Connected
Yes

Stories

Two
Yes

Water

City Water/Connected
Yes

No. of Refrigerators

Four
Yes

Unit 1 Appliances

Dishwasher
Yes
Dryer
Yes
Range
Yes
Refrigerator
Yes
Washer
Yes

Unit 1 Cooling

Wall
Yes

Unit 2 Appliances

Dishwasher
Yes
Dryer
Yes
Range
Yes
Refrigerator
Yes
Washer
Yes

Unit 2 Cooling

Wall
Yes

Unit 3 Appliances

Dishwasher
Yes
Dryer
Yes
Range
Yes
Refrigerator
Yes
Washer
Yes

Unit 3 Cooling

Wall
Yes

Unit 4 Appliances

Dishwasher
Yes
Dryer
Yes
Range
Yes
Refrigerator
Yes
Washer
Yes

Unit 4 Cooling

Wall
Yes

Documents

IDX
Listing Office: REAL (3961 WF)
Last Updated: May - 27 - 2026
The data relating to real estate for sale on this web site comes in part from the Broker Reciprocity SM Program of the Regional Multiple Listing Service of Minnesota, Inc. The information provided is deemed reliable but not guaranteed. Properties subject to prior sale, change or withdrawal. ©2024 Regional Multiple Listing Service of Minnesota, Inc All rights reserved.
Search powered by FBS Products