Watford City, ND 58854
- INVESTMENT SALE: CALL FOR PRICING
- Multifamily investment portfolio consisting of two apartment buildings (Wolf Run Village I and II) totaling:
- 7 buildings
- 62 units
- 61,460 SF
- Ideally located in the heart of Watford City, ND near local shops, restaurants, schools and highways
- Area is experiencing high demand for multi-family housing units with little inventory on market
- 2018 oil prices and increasing production demand continue to create strong economic opportunities in prime Bakken hubs like Watford City
- Offering memorandum available upon request
- Contact Mike Elliott at 701.713.6606 or firstname.lastname@example.org
- BAKKEN OIL PRODUCTION ACTIVITY: In September, North Dakota production reached a new record of 1.36 million barrels per day, a change of +5.2% from the prior month and +22.7% from one year ago. The average monthly WTI price for September 2018 was $66.76 per barrel, a change of +2.2% from the prior month and +45.1% from one year ago.In Watford City, oil production hit 14.3 million barrels for the month of August 2018, up 7.69% from a year prior.
- CONSTRAINED HOUSING SUPPLY: Due to the resurgence of Bakken oil production activity, Western North Dakota has seen a rapid influx of service workers, dramatically increasing Watford City’s housing demand. These workers are also shifting from a month-to-month to a more permanent basis. Today’s housing market has a depleted supply, and with no signs of demand waning, this investment is well-positioned for high-returns.
- INCREASED CONSUMER SPENDING: The increase in oil production has been an economic jolt for Western North Dakota energy markets. Between Q2 2017 and Q2 2018, Watford City taxable sales and purchases increased by over 43% making the future economic feasibility of this market quite strong.
- MULTIFAMILY UPSWING: The demand for Bakken oil in the global market is not disappearing anytime soon, keeping North Dakota shale play markets on an upward economic trajectory. Watford City’s 2018 multifamily occupancy rates increased to 96%, up a full 6% from 2017 and an incredible 28% from 2016.