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701 N Montana Ave 701 N Montana Ave 11 Unit Apartment Building $650,000 ($59,091/Unit) Miles City, MT 59301
EXECUTIVE SUMMARY
Owner Financing Available!
This 11-unit multi-family property is conveniently located close to downtown, offering easy access to amenities and public transportation. Residents will appreciate the abundance of off-street parking, a rare find in such a central location. Several of the units have been thoughtfully remodeled, providing updated interiors and added comfort. Additionally, a shared laundry room in the basement adds convenience for tenants.
- Prime Location – Just minutes from downtown, offering easy access to shops, dining, and public transit.
- Ample Parking – Generous off-street parking ensures convenience for all residents.
- Updated Interiors – Several units have been tastefully remodeled, adding modern appeal and value.
- On-Site Laundry – Shared laundry room in the basement adds everyday convenience for tenants.
- Attractive 6% Cap Rate – Strong current return with significant upside potential.
- High Value-Add Opportunity – Below-market rents present room for increased revenue with strategic improvements.
- Proven Rent Upside – Recent renovations have successfully raised $425 units to $1,250 and $325 units to $700.
- Strong Rent Potential – Estimated total monthly rent potential of $5,950+, with the addition of one more unit.
- Expansion Possibilities – Situated on a large lot with room to grow or develop further.
- Cash Flow Growth – Smart upgrades and rent repositioning can dramatically enhance returns..
This 11-unit multi-family property is conveniently located close to downtown, offering easy access to amenities and public transportation. Residents will appreciate the abundance of off-street parking, a rare find in such a central location. Several of the units have been thoughtfully remodeled, providing updated interiors and added comfort. Additionally, a shared laundry room in the basement adds convenience for tenants.
- Prime Location – Just minutes from downtown, offering easy access to shops, dining, and public transit.
- Ample Parking – Generous off-street parking ensures convenience for all residents.
- Updated Interiors – Several units have been tastefully remodeled, adding modern appeal and value.
- On-Site Laundry – Shared laundry room in the basement adds everyday convenience for tenants.
- Attractive 6% Cap Rate – Strong current return with significant upside potential.
- High Value-Add Opportunity – Below-market rents present room for increased revenue with strategic improvements.
- Proven Rent Upside – Recent renovations have successfully raised $425 units to $1,250 and $325 units to $700.
- Strong Rent Potential – Estimated total monthly rent potential of $5,950+, with the addition of one more unit.
- Expansion Possibilities – Situated on a large lot with room to grow or develop further.
- Cash Flow Growth – Smart upgrades and rent repositioning can dramatically enhance returns..
PROPERTY FACTS
| Price | $650,000 | Building Class | B |
| Price Per Unit | $59,091 | Lot Size | 0.35 AC |
| Sale Type | Investment | Building Size | 9,775 SF |
| No. Units | 11 | Average Occupancy | 90% |
| Property Type | Multifamily | No. Stories | 3 |
| Property Subtype | Apartment | Year Built | 1960 |
| Apartment Style | Low-Rise | Opportunity Zone |
Yes
|
| Zoning | 2 | ||
| Price | $650,000 |
| Price Per Unit | $59,091 |
| Sale Type | Investment |
| No. Units | 11 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | B |
| Lot Size | 0.35 AC |
| Building Size | 9,775 SF |
| Average Occupancy | 90% |
| No. Stories | 3 |
| Year Built | 1960 |
| Opportunity Zone |
Yes |
| Zoning | 2 |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Washer/Dryer
- Heating
- Tub/Shower
SITE AMENITIES
- 24 Hour Access
- Laundry Facilities
- Storage Space
- Public Transportation
- Private Bathroom
- Smoke Detector
1 1
PROPERTY TAXES
| Parcel Number | 14-1740-28-4-21-01-0000 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $264,800 |
PROPERTY TAXES
Parcel Number
14-1740-28-4-21-01-0000
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$264,800
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701 N Montana Ave | 701 N Montana Ave
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