Property Details for 3414 10Th Ave

Year built

2014

Lot size

0.14 lot acres

Property size

36,540 SF

Property type

Residential income homes

Description

This exceptional investment opportunity presents an established 18-unit townhome community in Watford City, North Dakota. The portfolio comprises ten buildings, each a two-story duplex, totaling 36,540 square feet. All 18 units are currently 100% occupied, boasting four bedrooms and five bathrooms each, with approximately 2,030 square feet of net rentable space per unit. Each townhome includes a two-car garage and a large, fenced backyard. Recent renovations (2021-2024) feature modern updates, including luxury vinyl tile, stainless steel appliances (Maytag, Whirlpool, or GE), LED lighting, and updated window coverings. A complete roof replacement was completed in October 2022, and privacy fencing was installed in October 2021. The property is zoned C-2 and sits on approximately 0.14 to 0.23 acres. The community is conveniently located near schools, the Rough Rider Center, Fox Hills golf course, local businesses, restaurants, and Theodore Roosevelt National Park, with easy freeway access. The property offers a 6.92% cap rate and a net operating income (NOI) of $290,700, with an asking price of $4,200,000 ($244,444 per unit and $120 per square foot). This represents a rare opportunity to acquire a stabilized, high-performing multifamily asset in a thriving North Dakota market. The property is offered for sale by owner. Four parking spaces are available per unit. The buildings were constructed in 2014.

Location Insight

City

Watford City

County

McKenzie

State

North Dakota

Longitude

-103.2264518

Latitude

47.8120706