229 2nd Avenue SE , Cut Bank, MT 59427
Cut Bank, MT 59427
Description
34 unit Apartment complex with potential to enclose two units back to 36 units total. Additional adjoining lot to add a potential 16 more units. Seller shows CAP rate of 9.8% for 2023 and anticipates higher in 2024. This complex is 99% occupied with one unit in process of remodel and updating. Tenants use self serve Kiosk in lobby for rent payments. 2 coin laundries for convenience. Both on and off street parking. Fenced playground area, dog run area, outdoor ping pong, BBQ's, horseshoe pits and outdoor designated smoking areas. Security entry system, multiple camera's and video recording system. Owner in process of installing digital fire detection system and all new window screens. Each unit has had updates as tenants transition. Currently owner has a waiting list of future tenants should any openings arise. Located in center of town for ease and convenience. Low maintenance stucco, masonry and brick exterior. Call or Text Ted Dykstra 406-249-8345 or your real estate professional.
Details
| MLS# | 30030372 |
|---|---|
| Listing Type | For Sale |
| Building Name | Springhill Apartments |
| Sub-Type | Resale |
| Status | Active |
| Days On Site | 61 |
| Listing Provided By | Keller Williams Realty Northwest Montana | Ted Dykstra Jr |
Features
| SQ Feet | 20,932 |
|---|---|
| Basement | Y |
| Units | 34 |
| Zoning | Residential |
| Acreage | 0.92 |
| Property View | Residential |
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Learn More About This Property
| State | MT |
|---|---|
| County | Glacier |
| City | Cut Bank |
| Zip Code | 59427 |
| Listing VS Median (in 59427) | |
Price: $1,850,000 low | high Med: $240,000 SqFt: 20,932 low | high Med: 1,863 $ / SqFt: $88 low | high Med: $130 On Site: 61 low | high Med: 46.500000 | |