MLS # 30023140
229 2nd Avenue SE, Cut Bank, MT 59427

MLS 30023140 $1,850,000

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 & 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 & friendly faces, stands this charming 33+ unit apartment complex. Its welcoming exterior hints at the warmth & 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 at 406-250-4930, 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 spacious 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 just 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 & 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.

Contact

Canyon Properties LLC
Cascade, Montana 59421
(406)-235-4081

Architecture

Architectural Style: Multi Level, Tri Level
Building Area Source: Public Records
Building Area Total: 20932
Building Features: Reception Area, Wi Fi
Building Name: Springhill Apartments
Exterior Features: Courtyard, Playground
Foundation Details: Poured, Basement
Garage Spaces: 0
Heating: Electric, Forced Air, Wall Furnace
Levels: Three Or More
Parking Features: Alley Access, On Street
Property Condition: See Remarks
Structure Type: Multi Family
Year Built: 1971
Year Built Source: Public Records

Features / Amenities

Appliances: Range, Refrigerator
Security Features: Security System Owned, Smoke Detectors, Security System

Property Features

Community Features: Playground
Laundry Features: Common Area, Multiple Locations, Coinoperated
Lot Features: Back Yard, Sprinklers In Ground, Level
Lot Size Acres: 0.916
Lot Size Source: Public Records
Lot Size Square Feet: 39901
Number Of Units Total: 36
Road Frontage Type: Alley, City Street
Road Surface Type: Asphalt
Topography: Level
Water Body Name: NA

Utilities

Sewer: Public Sewer
Utilities: Cable Connected, Electricity Connected, High Speed Internet Available
Water Source: Public

Location

Directions: In Cut Bank, Montana, from U.S. Hwy 2 (E. Main St) turn south on 2nd Ave SE, to Spring Hill Apartments.

Legal and Taxes

Parcel Number: 38452912215140000
Tax Annual Amount: 18749.32
Tax Legal Description: CUT BANK SECOND ADD, S12, T33 N, R06 W, BLOCK 012, Lot 001 - 003, PART OF TRACT I TRIANGULAR TRACT KNOWN AS TRACT L, TRACT J & K
Tax Year: 2023
Zoning: Residential
Zoning Description: Residential 2

Realtor

Property Sub Type: Apartment
Property Type: Residential Income

© 2024 Montana Regional MLS. Information is provided exclusively for consumers personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but not guaranteed and should be independently verified. Listed By: Mary Kay Myett, Premiere Real Estate Professionals, 285 2nd Ave W N No. 102, Kalispell, MT, 59901


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