Property Description

4 unit apartment building with excellent rental history. There is a fifth unit available with some remodeling and finish work to make it rentable. Building has an occasional vacancy, several long term tenants. Owner has updated the boiler system, exterior painting, landscaping, concrete and yard. New roof 2019, owners are installing central air in all units. Good location close to downtown shopping, restaurant’s, bars, banks, etc. Units are metered for electricity. Landlord pays first $50/mo in unit 1, 2,3,4, monthly average is $9-27/ unit. Landlord pays for gas and electric for heat, average is $237/mo. Water and sewer is $98/mo, garbage $31/mo. Property insurance is $2,482/yr. Current gross rent is $2100/mo for 4 units. Monthly expenses are around $931/mo, potential net is $1169/mo. This is a 6.41% CAP rate at the $219,000 asking price. All leases are month to month. Unit #5 can be made rentable with some remodeling and finish work. This would increase income by $400-500/mo. The property will have a LOMA completed to remove it from the flood zone.

: forced air-gas, hot water-gas
: Central air
: refrigerator, water heater- nat. gas, oven/range- electric, washer, dryer
: Corner lot, porch- enclosed
: Flooring- vinyl, flooring- laminate, flooring- carpet, countertops- laminate, fireplace- wood
: Poured-wall
: Architectural shingle, flat
: Power: mdu, water: city/public, sewer: city
: Siding-wood, Brick
: Flooring- vinyl, flooring- laminate, refrigerator, flooring- carpet, water heater- nat. gas, countertops- laminate, oven/range- electric, washer, dryer, fireplace- wood, Corner lot, porch- enclosed
Address and Location
Miles City
Custer: Miles City
Additional Information
: 4+ units
Miles City School District
Lesh & Company
Montgomery Lesh
: In flood zone

Multi Family

123 9th St, Miles City, Montana 59301

4 Bedrooms
4 Bathrooms
4,880 Sqft
Visits : 227 in 133 days
MLS ID #341198
Basic Details
Property Type : Multi Family
Price : $219,000
MLS ID : 341198
Bedrooms : 4
Bathrooms : 4
Square Footage : 4,880 Sqft
Lot Size : 0.15 Acre
Listing Status : Active
Year Built : 1907
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