Property History
Property Type
Property Type
Marketing Description
The Colliers Manufactured Housing & RV Group is pleased to offer the opportunity to acquire a 100% fee-simple interest
in the North Dakota HIllview Estates MH Portfolio, consisting of 40 modular units located in northwest North Dakota in the city of Alexander.
The Asking Price for the portfolio is $5,500,000 ($137,500/unit). At this price, the Year 1 cap rate is 9.0%.
Investment Highlights
- The Hillview MH Portfolio could be subdivided and the homes sold off individually as the homes are high-quality modular homes.
- Opportunity to gain additional synergies through the acquisition of other properties being marketed by the seller and ERES in partnership with Colliers.
- With rents near the all-time low of the last 5-1/2 years the downside is low with significant upside given that current rents are 48% below the highest rents achieved by the seller in the same time period.
- The portfolio is located in Alexander, ND, within 30 minutes of one of the most significant cities for oil and gas development in the Bakken region: Williston, ND.
- The portfolio has been consistently well-occupied and has seen significant rent growth over the last year even as oil prices have fallen. Demand for housing in the area continues to be strong at today’s oil prices.
Loan History
Financial History
Tax History
Contact Information
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Ownership Information
Property Details
There are no additional details for this property
Contacts
Listing removed on
BY:
Michael Nissley PRO
•••.•••.1588
••••.•••sley@••••••••.com
Listing removed on
BY:
Richard Knapp
•••.•••.7910
•••••••.•napp@••••••••.com
Map
Comparable Properties
Rental Market Overview
This rental data is based on the nearest market to this property: Watford City, ND.
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Watford City, ND (nearest market)
Williston, ND
Dickinson, ND
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