$1,850,000 Price Analysis   ♡   Cut 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 |
Add it all up on this one!
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 amenities & 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 big 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 prvide 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 & buyers 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.
Presented by Mary Kay Myett at
Premiere Real Estate Professionals.
Property MLS #30023140 from MontanaRegionalMLS
Refrigerator
Laundry Features: CommonArea, MultipleLocations, Coinoperated
Heating: Yes
Playground
Road Frontage Type: Alley, CityStreet
Road Surface Type: Asphalt
Lot Size Acres: 0.916
Lot Size Source: PublicRecords
Topography: Level
Lot Size Square Feet: 39901
Calculated Total Monthly Association Fees: 0
Source Listing Status: Active
County: Glacier
Directions: In Cut Bank, Montana, from U.S. Hwy 2 (E. Main St) turn south on 2nd Ave SE, to Spring Hill Apartments.
Tax Year: 2023
Source Property Type: ResidentialIncome
Parcel Number: 38452912215140000
Zoning: Residential
Zoning Description: Residential 2
Property Subtype: Apartment
Source System Name: C2C
| 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 |
$1,850,000
MontanaRegionalMLS
Sold 2018-10-11
$0
MontanaRegionalMLS
Listed 2018-10-10
$1,200,000
MontanaRegionalMLS
Building Area Source: PublicRecords
Building Area Total: 20932
Building Area Units: SquareFeet
Building Features: ReceptionArea, WiFi
Building Name: Springhill Apartments
Foundation Details: Poured, Basement
Levels: ThreeOrMore
Property Age: 53
Structure Type: MultiFamily
House Style: MultiLevel, TriLevel
Year Built Source: PublicRecords
Architectural Style: MultiLevel, TriLevel
CableConnected
ElectricityConnected
HighSpeedInternetAvailable
Water Source: Public
Security Features: SecuritySystemOwned, SmokeDetectors, SecuritySystem
Map directions Map directions
 |  |  |  |  |
 |  |  |  |  |
 |  |  |  |  |
 |  |  |  |  |
 |  |  |  |  |
 |  |  |  |  |
 |  |  |  |  |
 |  |  |  |  |
 |  |  |  |  |
 |  |  |  |  |
 |  |  |  |  |
 |  |  |  |  |
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.