Sale Pending
1 of 20 Photos
Price:
$219,000 
MLS #:
341198
Beds:
4
Baths:
4
Sq. Ft.:
4880
Lot Size:
0.15 Acres
Yr. Built:
1907
Type:
Multi-Family
Multi Family - Resale Home
Taxes/Yr.:
$2,895
Area:
Custer: Miles City
Address:
123 N 9th St
Miles City, MT 59301
123 N 9th Street
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.
Interior Features:
Countertops- Laminate
Fireplace- Wood
Flooring- Carpet
Flooring- Laminate
Flooring- Vinyl
Exterior Features:
Corner Lot
Porch- Enclosed
Appliances:
Dryer
Oven/Range- Electric
Refrigerator
Washer
Water Heater- Nat. Gas
Other Features:
Resale Home
Utilities:
Power: MDU
Sewer: City
Water: City/Public
Listing offered by:
Monty Lesh (License# RRE-BRO-LIC-16659) with Lesh & Company
Map of Location:
Data Source: Listing data provided courtesy of: Eastern Montana MLS (Data last refreshed: 12/06/21 10:05pm) - 817

Notice & Disclaimer: All listing 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 not guaranteed to be accurate. All measurements (including square footage and acreage) should be independently verified by the buyer.
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