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130 W Kent Ave
Missoula, MT 59801
Grove · Multifamily Property For Sale
·
30 Units
Investment Highlights
- Prime Missoula University District location, high demand.
- Clear value-add opportunity to push rents to market rate.
- Recent capital upgrades (2022), well-maintained.
- Diverse unit mix with desirable amenities.
Executive Summary
CBRE is pleased to present The Grove Apartments, a well-located multifamily community nestled in the heart of Missoula’s University District.
The Grove is comprised of two buildings — an apartment building and an adjacent duplex home — offering one- and two-bedroom homes just minutes from the University of Montana, local coffee houses, breweries, a golf course, and some of Missoula’s most celebrated hiking trails. The Grove offers community amenities including a grassy courtyard, on-site laundry, and carport parking.
Built in 1968, The Grove has been well-maintained and underwent renovations in 2022. Current ownership put in over $175,000 in capital upgrades including a full roof replacement, all new vinyl windows in the apartment building, updated flooring, and new paint.
The Value-Add Opportunity
The Grove presents a new owner with a clear opportunity to continue and expand the current renovation program. With recent upgrades already underway, a new owner can build on the existing momentum to push rents toward market rate and maximize returns in one of Montana’s most supply-constrained university markets.
Missoula, Montana
Missoula is a dynamic and growing market anchored by the University of Montana, home to approximately 10,000 students and over 3,200 jobs, and bolstered by rapidly expanding technology employment following Montana’s designation as a national Regional Innovation and Technology Hub in 2023. Nestled in the Rocky Mountains at the confluence of three rivers, Missoula’s unmatched outdoor lifestyle and strong sense of community continue to drive sustained in-migration and renter demand.
The Grove is comprised of two buildings — an apartment building and an adjacent duplex home — offering one- and two-bedroom homes just minutes from the University of Montana, local coffee houses, breweries, a golf course, and some of Missoula’s most celebrated hiking trails. The Grove offers community amenities including a grassy courtyard, on-site laundry, and carport parking.
Built in 1968, The Grove has been well-maintained and underwent renovations in 2022. Current ownership put in over $175,000 in capital upgrades including a full roof replacement, all new vinyl windows in the apartment building, updated flooring, and new paint.
The Value-Add Opportunity
The Grove presents a new owner with a clear opportunity to continue and expand the current renovation program. With recent upgrades already underway, a new owner can build on the existing momentum to push rents toward market rate and maximize returns in one of Montana’s most supply-constrained university markets.
Missoula, Montana
Missoula is a dynamic and growing market anchored by the University of Montana, home to approximately 10,000 students and over 3,200 jobs, and bolstered by rapidly expanding technology employment following Montana’s designation as a national Regional Innovation and Technology Hub in 2023. Nestled in the Rocky Mountains at the confluence of three rivers, Missoula’s unmatched outdoor lifestyle and strong sense of community continue to drive sustained in-migration and renter demand.
Property Facts
| Sale Type | Investment | Lot Size | 0.64 AC |
| No. Units | 30 | Building Size | 20,980 SF |
| Property Type | Multifamily | Average Occupancy | 100% |
| Property Subtype | Apartment | No. Stories | 2 |
| Apartment Style | Garden | Year Built | 1968 |
| Building Class | C | ||
| Zoning | B2-2 - RM1-45 | ||
| Sale Type | Investment |
| No. Units | 30 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 0.64 AC |
| Building Size | 20,980 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1968 |
| Zoning | B2-2 - RM1-45 |
Amenities
Unit Amenities
- Air Conditioning
- Heating
- Kitchen
- Oven
- Range
Site Amenities
- 24 Hour Access
- Laundry Facilities
Property Taxes
| Parcel Number | 04-2200-28-4-23-01-0000 | Improvements Assessment | $2,382,088 |
| Land Assessment | $1,449,112 | Total Assessment | $3,831,200 |
Property Taxes
Parcel Number
04-2200-28-4-23-01-0000
Land Assessment
$1,449,112
Improvements Assessment
$2,382,088
Total Assessment
$3,831,200
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