345 Montana Ave, Missoula, MT 59802

3 Unit Apartment Building | $1,100,000 ($366,667/Unit) | 4.36% Cap Rate | Missoula, MT 59802

Asking Price $1,100,000

Property Type: Multifamily
Square Feet: 1,647 SF

Listing Contacts

Property Info

Property Overview

This property offers an extraordinary amount of potential for any savvy builder or developer. Two single-family residences and 8 separate lots which total approximately 0.88 acres of land. Both residences and all land must convey together. The two residences are both two bed/one bath homes in good shape and currently function as rentals. One of the single-family residences even offers a lower level studio space with a separate bathroom and entrance. In addition to the two single-family residences, the remaining land (approximately 7 lots) is currently being used as a mobile home park with seven leased lots and two more lot spaces available to lease. Explore the possibilities of owning two solid single-family homes on 0.88 acres of developable land (maximum zoning density of 11 homes per acre) ALL within 7 minutes of downtown Missoula and the UM campus.

Property Details

Year Built/Renovated: 1940/2019
Stories: 3
Lot Size (sq. ft): 38,333 SF
Units: 3

Highlights

Large parcel of developable land close to UM and downtown.
Potential for higher net income.
Both single-family residences are in good condition.

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