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2328 Shorthorn Ave - Burnham Ranch Condominium 12 Unit Apartment Building Offered at $4,475,000 at a 5.20% Cap Rate Helena, MT 59602
Executive Summary
Four garden-level triplex condominiums available for sale as a package. These 12 units were constructed in 2023 and are fully leased with management in place. Each unit features two bedrooms, a single-car garage, and in-unit washer and dryer. The units are nearly identical in layout and size, with the exception of an extra half bath in the center units. The location is perfect for residents; Costco is just across the street, employment is a quick drive away, and access to the site is easy and convenient. The condo structure offers flexibility - you can hold and lease, sell units individually, or a mix of both. Helena continues to face a strong demand for housing, invest in these brand new units today.
Financial Summary (Actual - 2025) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$311,671
|
$15.54
|
| Other Income |
$8,376
|
$0.42
|
| Vacancy Loss |
$6,233
|
$0.31
|
| Effective Gross Income |
$313,814
|
$15.65
|
| Taxes |
$35,871
|
$1.79
|
| Operating Expenses |
$46,219
|
$2.30
|
| Total Expenses |
$82,090
|
$4.09
|
| Net Operating Income |
$231,724
|
$11.56
|
Financial Summary (Actual - 2025)
| Gross Rental Income | |
|---|---|
| Annual | $311,671 |
| Annual Per SF | $15.54 |
| Other Income | |
|---|---|
| Annual | $8,376 |
| Annual Per SF | $0.42 |
| Vacancy Loss | |
|---|---|
| Annual | $6,233 |
| Annual Per SF | $0.31 |
| Effective Gross Income | |
|---|---|
| Annual | $313,814 |
| Annual Per SF | $15.65 |
| Taxes | |
|---|---|
| Annual | $35,871 |
| Annual Per SF | $1.79 |
| Operating Expenses | |
|---|---|
| Annual | $46,219 |
| Annual Per SF | $2.30 |
| Total Expenses | |
|---|---|
| Annual | $82,090 |
| Annual Per SF | $4.09 |
| Net Operating Income | |
|---|---|
| Annual | $231,724 |
| Annual Per SF | $11.56 |
Property Facts
| Price | $4,475,000 | Apartment Style | Garden |
| Price Per Unit | $372,917 | Lot Size | 0.60 AC |
| Sale Type | Investment | Building Size | 20,052 SF |
| Cap Rate | 5.20% | Average Occupancy | 100% |
| No. Units | 12 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 2023 |
| Zoning | B-2 - B-2 (Business-2) allows the property's use by right. | ||
| Price | $4,475,000 |
| Price Per Unit | $372,917 |
| Sale Type | Investment |
| Cap Rate | 5.20% |
| No. Units | 12 |
| Property Type | Multifamily |
| Apartment Style | Garden |
| Lot Size | 0.60 AC |
| Building Size | 20,052 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 2023 |
| Zoning | B-2 - B-2 (Business-2) allows the property's use by right. |
Amenities
Unit Amenities
- Air Conditioning
- Balcony
- Washer/Dryer
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+2 | 8 | - | - |
| 2+2.5 | 4 | - | - |
1 1
Somewhat walkable
30/100
Exceptionally drivable
100/100
Somewhat bikeable
20/100
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Videos
Matterport 3D Exterior
Matterport 3D Tour
Photos
Street View
Street
Map
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Contact the Sale Advisor
2328 Shorthorn Ave - Burnham Ranch Condominium