3414 10Th Ave Watford City, ND 58854
- Residential income homes
- 36,540 SF
- 0.14 lot acres
Current Use by Public Records
- Residential income homes
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.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Watford City
- County
- McKenzie
- State
- North Dakota
- Longitude
- -103.2264518
- Latitude
- 47.8120706
