2751 116TH AVE NW Watford City ND 58854-9525

The Colliers Manufactured Housing Group is pleased to offer the opportunity to acquire a 100% fee-simple interest in the North Dakota Watford MH & APT Portfolio, consisting of 18 modular units and 14 apartment units located in northwest North Dakota in Watford City.

The Asking Price for the portfolio is $3,300,000 ($103,125/unit). At this price, the Year 1 cap rate is 8.5%.

ALL OF OUR LISTINGS

• The Watford MH & APT 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 Watford City, ND, which is one of the most significant counties for oil and gas development in the Bakken region: McKenzie County.
• 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.

ALL OF OUR LISTINGS