701 N Montana Ave
$650,000
701 N Montana Ave Miles City, MT 59301
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About this listing
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.
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Building Size
5,492 sqft
