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2329 Fairview Ave - MULTIFAMILY INVESTMENT PROPERTY | 3 UNIT 3 Unit Apartment Building Offered at $707,000 at a 5.33% Cap Rate Missoula, MT 59801
INVESTMENT HIGHLIGHTS
- (3) Two-Bedroom One-Bath Units + Shared Laundry/Mech./Storage
- 6-7 Off street dedicated parking spaces on asphalt paved parking lot with ample additional on-street parking.
- 100% Tenant Occupancy - Units 1 & 2 on month-to-month lease, Basement unit on 1 Year lease ending 6/01/26
- Each unit is individually metered for electric and has a designated 50 gal water heater tank. Forced air heat is controlled separately through a centr
EXECUTIVE SUMMARY
This charming triplex property in the Franklin to the Fort neighborhood is an excellent investment opportunity, with steady rental income and long-term tenants. Centrally located just minutes from grocery stores, restaurants, shopping centers, and the Bitterroot Bike Trail, offering a convenient commuting and recreation route through the core of Missoula. Comprised of three spacious 2-bed, 1-bath units, boasting large windows and natural sunlight, ample storage and shared washer/dryer facilities with additional storage in the basement. Each unit benefits from covered entrances, on-site designated parking spaces, direct access to a large shared backyard & covered patio. Mature landscaping enhances year-round curb appeal and privacy. There may also be opportunities to add density on the large lot, currently zoned as RM2.7 with a place type designation of Urban Residential High. See associated documents for the Brochure, APOD (both current & pro forma w/tenant lease info), and additional information.
RENOVATIONS:
2024 - Replaced Water Heater for One Unit
2023 - Roofing Updated w/ GAF Coating & New Flashing/Trims
2017 - Deck Structure Reinforced & Refinished Wood Flooring in Unit 2
RENOVATIONS:
2024 - Replaced Water Heater for One Unit
2023 - Roofing Updated w/ GAF Coating & New Flashing/Trims
2017 - Deck Structure Reinforced & Refinished Wood Flooring in Unit 2
FINANCIAL SUMMARY (ACTUAL - 2024) Click Here to Access |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
-
|
-
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
-
|
-
|
| Net Operating Income |
$99,999
|
$9.99
|
FINANCIAL SUMMARY (ACTUAL - 2024) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
PROPERTY FACTS
AMENITIES
UNIT AMENITIES
- Storage Space
- Heating
- Kitchen
- Refrigerator
- Oven
- Range
- Tub/Shower
- Walk-In Closets
- Yard
- Lawn
SITE AMENITIES
- Laundry Facilities
- Storage Space
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 2+1 | 3 | $1,250 | 900 - 1,120 |
1 1
Walk Score®
Very Walkable (75)
Bike Score®
Biker's Paradise (93)
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2329 Fairview Ave - MULTIFAMILY INVESTMENT PROPERTY | 3 UNIT
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