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- LoopNet Team
12648 23rd St NW
Watford City, ND 58854
Telluride Lodge · Multifamily Property For Sale
·
164 Units
INVESTMENT HIGHLIGHTS
- Turn-key investment opportunity - 10% cap rate, 2022 pro forma cap rate of 12.73% and $2.50 rental/sf/month
- Many long-lasting corporate tenants, currently run more like an extended-stay hotel
- Desirable amenities such as a fitness center, community room equipped with computers and a TV, outdoor patio, picnic tables, and outdoor outlets
- 164 units - all fully furnished, equipped with full kitchens, dedicated laundry facilities or in-unit laundry, storage, etc.
- Current management company would stay in place with solid long-term employees
- Well-maintained, safe and quite environment that has many return customers
PROPERTY FACTS
| No. Units | 164 | Lot Size | 10.49 AC |
| Property Type | Multifamily | Building Size | 55,148 SF |
| Property Subtype | Apartment | No. Stories | 1 |
| Apartment Style | Garden | Year Built | 2013 |
| Building Class | B | ||
| Zoning | Residential III | ||
| No. Units | 164 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | B |
| Lot Size | 10.49 AC |
| Building Size | 55,148 SF |
| No. Stories | 1 |
| Year Built | 2013 |
| Zoning | Residential III |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Cable Ready
- Microwave
- Washer/Dryer
- Heating
- Ceiling Fans
- Eat-in Kitchen
- Kitchen
- Hardwood Floors
- Range
- Tub/Shower
- Walk-In Closets
- Carpet
- Window Coverings
SITE AMENITIES
- Business Center
- Fitness Center
- Laundry Facilities
- Property Manager on Site
- Package Service
- Maintenance on site
- Meal Service
ABOUT 12648 23RD ST NW , WATFORD CITY, ND 58854
The Property is located approximately 3.5 miles south of Watford City, ND and one half mile west of Highway 85 on County Road 30, which is in the heart of western North Dakota. Watford City is located in western North Dakota, surrounded by the Missouri River and Lake Sakakawea and the Yellowstone River in eastern Montana. The 2013 census reported a population of 3,284 residents in Watford City. The 2021 census has significantly increased in population to 9,345 residents due to Watford City being located at the heart of the Bakken Oil play. Watford City is the county seat of McKenzie County and serves a large rural community with an estimated population of 14,704 residents. The community is heavily dependent on natural resource based economies such as ranching, farming, tourism and oil exploration. With over 500,000 acres of public land in the Little Missouri National Grasslands and the Theodore Roosevelt National Park, Lake Sakakawea and the Fort Berthold Indian Reservation, the community has a sizable base of federal employees as well. The community has developed an extensive community plan focusing on telecommunication and recreational infrastructure to attract new industry and wage earners. The physical beauty and ample recreational opportunities have been attractive to a select group of telecommuters and information technology companies, energy companies and financial and service companies. Nearby major cities include: Williston, ND - 45 Miles south of Williston Glendive, MT - 100 miles northeast of Glendive Minot, ND - 120 miles west of Minot Bismarck, ND - 170 miles northwest of Bismarck Miles City, MT - 170 miles northwest of Miles City Fargo, ND - 370 miles west of Fargo Local airports include Sidney-Richland Municipal Airport (55 miles), Weydahl Field Airport (57 miles) and Dickinson Theodore Roosevelt Reginal Airport (93 miles). Nearby International airports include, Williston Basin International Airport (38 miles), and Sloulin Field International Airport (48 miles).
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| Studios | 86 | - | 280 |
| 1+1 | 78 | - | 378 - 400 |
PROPERTY TAXES
| Parcel Number | 65-00-05965 | Improvements Assessment | $1,017,385 |
| Land Assessment | $110,375 | Total Assessment | $1,127,760 |
PROPERTY TAXES
