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Bristlecone Apartments

Bristlecone Apartments

2510 Irvine Ave NW  /

Property Details

Price:
Property Type Multifamily
Year Built: 1974
Number of Units: 36
County: Beltrami

Description

Michel Commercial is pleased to present an exclusive listing for the Bristlecone Apartments, a 36-unit apartment building in Bemidji. Bristlecone is a non-smoking property with on-site laundry facilities, off-street and garage parking, storage units, and air conditioning. Each unit has a balcony or patio, a linen closet, window coverings, and a full kitchen appliance package, including a dishwasher. Bristlecone Apartments are located in Bemidji, the largest commercial center between Duluth and Grand Forks. Bristlecone is within walking distance of several shops, restaurants, and Bemidji State University. Bristlecone is less than two miles from a commercial hub, including Walmart, Target, grocery stores, and more. The entrance to U.S. Highways 2 and 71 are just five minutes away. Bristlecone is also within short driving distance of countless parks, including Buena Vista Ski Area. Bristlecone Apartments offers a desirable mix of one- and twobedroom units. This market-rate property is well maintained and offers solid in-place income. There is immediate opportunity to raise rentals, with further rental upside attainable through interior upgrades. Bristlecone Apartments is an attractive investment opportunity in a thriving community that serves over 200,000 people in the greater Bemidji area.

Location

Bemidji is the county seat of Beltrami County and the largest commercial center between Duluth and Grand Forks, North Dakota. Bemidji itself is home to nearly 15,000 residents, but the city is a popular destination for shopping, arts, entertainment, education, healthcare, and more for over 200,000 people across the larger Bemidji area. The city’s major employers include Sanford Health and Bemidji State University. Bemidji is 130 miles from Fargo and 235 miles from central Minneapolis, and the Bemidji Regional Airport offers daily round-trip-flights to the Minneapolis-St. Paul International Airport. Bemidji is known as the curling capital of the United States and the alleged birthplace of legendary Paul Bunyan.

Highlights

Rental Upside Opportunity
• Immediate Opportunity to Raise Rents
• Desirable Unit Mix (1BD and 2BD)
• Solid In-Place Income
• Well-Maintained Property

Convenient Location
• Walkable to shops and restaurants
•  5 minute walk to commercial hub (Walmart)
•  Minutes from Headwaters Science Center
•  Near Lake Bemidji State Park
•  Less than a mile to Bemidji State University
•  Less than 15 miles from Buena Vista Ski Area
•  5 Minutes from Highway 71 and Highway 2.

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