Pheasant Ridge Apartments II - Commercial Real Estate Services | Friedman Real Estate | Commercial Real Estate Services | Friedman Real Estate

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    For Sale

    Pheasant Ridge Apartments II

    210 11th Avenue Northeast
    Watford City, North Dakota 58854
    For Sale

    Pheasant Ridge Apartments II

    210 11th Avenue Northeast
    Watford City, North Dakota 58854

    - Property Information

    eCODE 847
    County: McKenzie
    Property Type: Investment Sale, Multi-Family
    # Units: 42
    Occupancy Rate: 69%
    Sale Price: TBD by the Market
    Distressed: Yes

    - Property Details

    Multi-Family Type: Garden Style
    Occupancy Type: Multi Tenant
    Year Built: 2014
    # Acres: 2.08
    Zoning: R-4, High Density Residential District
    Parcel ID: 82-58-01000
    Parking Type: Surface, Garage
    # Spaces: 87
    Parking Ratio: 2.14
    Completion Status: Existing

    - Additional Information

    • Receivership Sale: 42-unit multi-family community
    • Close to 60% of the property comprised of 2-bedroom units
    • Newer construction with little to no deferred maintenance
    • All residences include in-unit washer/dryer and are individually metered
    • Abundant garage and surface parking at a ratio of 2.14 spaces per 1,000 RSF
    • Located 3 miles north of US-85
    • McKenzie County accounts for more than 30% of all North Dakota oil production
    • Substantial gains in rental rates possible as oil production continues upward trends in the Bakken region
    • Recent Watford City developments include $56M community event center; $55M McKenzie County healthcare facility, $50M Watford City high school; $3.5M airport expansion
    • Property is being sold in partnership with Energy Real Estate Solutions
    • Asset being sold with No Set Asking price

    - For more information, contact:

    248.324.2000 Request a call