$1,850,000 Price Analysis 229 2nd Ave SECut Bank, MT 59427 Unknown bed None bath 20,932 SqFt ($88/SqFt) 0.92 acre lot. Built 1971 Listed 2024-04-16, Taxes $16,657 | May be USDA loan restricted due to income limits near Cut Bank |
Seller's Current cap rate is approximately 9.3 % with easy, significant upside potential. Seller estimates 10%! 33 units currently rented and with some minor reconfiguring can easily be changed back to 36 units, with rent increases accordingly. Just one of the options here to increase your bottom line! Current owner has spent the last few years making continual upgrades to this complex, putting the rent income back in, to increase the desirability of this complex. You have to get on a waiting list to rent here! Framed by an ideal location and friendly faces, stands this charming 33+ unit apartment complex. Its welcoming exterior hints at the warmth and comfort within, inviting residents to make it their home sweet home. As you approach the complex, the first thing that catches your eye is how well maintained it is. See Documents for all the amenties & improvements. Expecting a fast sale! Contact Mary Kay Myett or your real estate professional The kids' playground, adorned with colorful swings, slides and play structures, is a bonus. Laughter and giggles float through the air as children frolic and play, creating a sense of joy and community.
Stepping inside, you're greeted by a lobby and sitting area where residents can unwind and connect amidst the serene surroundings. A designated dog area offers a space for furry friends to stretch their legs and socialize, fostering a pet-friendly atmosphere. Each unit within the complex is designed with modern amenities and comfortable living spaces. From cozy studios to roomy two-bedroom apartments, there's a perfect home for every lifestyle. Residents enjoy the convenience of 2 laundry areas on site, one in each wing. High-speed internet ensures seamless connectivity for work and leisure. The complex is not a place to live but a vibrant community where neighbors become friends. Social gatherings provide opportunities for residents to mingle and build lasting relationships, enriching their living experience. With the exceptional cap rate, investors are drawn to the solid returns offered by this thriving property. Its prime location in a desirable neighborhood, within the charming town of Cut Bank, coupled with its attractive amenities and strong rental demand, make it a lucrative investment opportunity. Whether it's watching the sunrise from the courtyard, sharing a laugh with neighbors at a community barbecue or simply enjoying the peace and tranquility of home, life at this apartment complex is filled with moments to cherish and memories to treasure. It is recommended that all buyers & bu yers agents verify all the information provided to them regarding this property to their satisfaction, to include: square footage, lot size, etc. This information is provided by outside sources & deemed reliable but not warranted by Listing Broker/Listing Brokerage.
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Property MLS #30023140 from MontanaRegionalMLS
Year | Assessments Building + Land Total | Tax |
---|---|---|
2022 | $1,040,020 + $10,990 $1,051,010 | $16,657 |
2021 | $1,040,020 + $10,990 $1,051,010 | $15,439 |
2020 | $1,001,090 + $84,310 $1,085,400 | $14,659 |
2019 | $1,001,090 + $84,310 $1,085,400 | $14,773 |
2018 | $777,803 + $56,997 $834,800 | $12,633 |
2017 | $777,803 + $56,997 $834,800 | $12,203 |
2016 | $615,370 + $26,740 $642,110 | $9,987 |
2015 | $615,370 + $26,740 $642,110 | $9,393 |
2014 | $unknown + $unknown $325,950 | $9,588 |
2013 | $unknown + $unknown $324,243 | $10,025 |
2011 | $unknown + $unknown $367,646 | $10,797 |
2010 | $unknown + $unknown $367,511 | $11,127 |
The property loan eligibility may be subject to additional requirements beyond geographical location including but not limited to the condition of the property. Speak with a real estate professional to find out more about the eligibility of a specific property.