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  • North Dakota
Price £41,547
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Property Description

This is a fantastic opportunity to acquire a key ready, income producing hotel suite on the first project by the award winning developer North Dakota Developments.

Located in the heart of the Bakken Oil Field, this fully managed property generates exceptional returns on an ongoing basis. The suite is priced at just $65,000 which represents excellent value for money.

A new management company has just been put in place - Midwest Resources - who have a proven track record in the area and have strong relationships with oil and gas service companies. Their wealth of experience in managing workforce accommodation and lodges such as Great American Lodge, Watford West has seen them achieving very high occupancy rates of between 90% and 100% on their projects in the Bakken region.

Based upon the nightly rate of $139 and 90% occupancy, this opportunity would generate a net income of $22,381 which is a net yield of 34.43% against the sales price of $65,000.

There is a very strong rental demand - 15,000 oil and service sector workers and rising are looking for accommodation and the rental income is supported by the world’s largest oil companies including ExxonMobil, Chevron, Halliburton, Hess and BP.

This is a unique chance to buy a completed suite which will provide the buyer with income from day one and is priced to sell now. A couple of other suites have come up for resale at $75,000 and off-plan hotel suites on other projects are selling for up to $89,000.

A quick sale is required by the vendor for medical reasons and this is the only reason the unit is priced so competitively.

The total capital required to buy this investment is: $69,500 comprising the sales price, estimated closing costs of $2,000 and $2,500 Booking Fee.

Please contact us now for further information or to reserve this property.

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