NHN Montana Avenue | 345 Montana Ave
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NHN Montana Avenue 345 Montana Ave
3 Unit Block of Flats £758,977 (£252,992/Unit) 3.60% Net Initial Yield Missoula, MT 59802
Investment Highlights
- Large parcel of developable land close to UM and downtown.
- Both single-family residences are in good condition.
- Potential for higher net income.
Executive Summary
ATTENTION INVESTORS! 8 subdivided lots with two single-family homes and an adjacent mobile home park located in close proximity to downtown Missoula and the University of Montana campus. Both homes are solidly built and each residence is currently functioning as 2 bed/1 bath rentals. One of the homes even offers a lower level mother-in-law space with a separate bathroom and entrance. The adjacent mobile home park offers 9 lot spaces with 6 lots currently leased. The current owner generates a decent return but both homes are rented below market value, the lower level mother-in-law space is not leased, and 3 mobile home lots are vacant. LOTS of potential to maximize the income on this property. This land, rental income, and development potential is all located within 7 minutes of downtown Missoula and The University of Montana campus. 2 houses currently occupied, 3 lots that are currently not leased.
Financial Summary (Actual - 2022) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
£43,035
|
£26.13
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
£43,035
|
£26.13
|
| Taxes |
£6,558
|
£3.98
|
| Operating Expenses |
£9,651
|
£5.86
|
| Total Expenses |
£16,208
|
£9.84
|
| Net Operating Income |
£26,826
|
£16.29
|
Financial Summary (Actual - 2022)
| Gross Rental Income | |
|---|---|
| Annual | £43,035 |
| Annual Per SF | £26.13 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | £43,035 |
| Annual Per SF | £26.13 |
| Taxes | |
|---|---|
| Annual | £6,558 |
| Annual Per SF | £3.98 |
| Operating Expenses | |
|---|---|
| Annual | £9,651 |
| Annual Per SF | £5.86 |
| Total Expenses | |
|---|---|
| Annual | £16,208 |
| Annual Per SF | £9.84 |
| Net Operating Income | |
|---|---|
| Annual | £26,826 |
| Annual Per SF | £16.29 |
Property Facts
| Price | £758,977 | Property Subtype | Apartment |
| Price Per Unit | £252,992 | Lot Size | 0.88 AC |
| Sale Type | Investment | Building Size | 1,647 SF |
| Net Initial Yield | 3.60% | Average Occupancy | 82% |
| No. Units | 3 | Number of Floors | 3 |
| Property Type | Residential | Year Built/Renovated | 1940/2019 |
| Price | £758,977 |
| Price Per Unit | £252,992 |
| Sale Type | Investment |
| Net Initial Yield | 3.60% |
| No. Units | 3 |
| Property Type | Residential |
| Property Subtype | Apartment |
| Lot Size | 0.88 AC |
| Building Size | 1,647 SF |
| Average Occupancy | 82% |
| Number of Floors | 3 |
| Year Built/Renovated | 1940/2019 |
Unit Mix Information
| Description | No. Units | Avg. Rent.Mo | SF |
|---|---|---|---|
| 5+3 | 3 | - | - |
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zoning
| Zoning Code | Live/Make (The land-use designation is Live/Make Neighborhood with a recommended residential density between 3 and 11 units per acre.) |
| Live/Make (The land-use designation is Live/Make Neighborhood with a recommended residential density between 3 and 11 units per acre.) |
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NHN Montana Avenue | 345 Montana Ave
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