Property Type: Multi-Unit
Sq Ft: 2800
ATTENTION Montana Investors! This Sale Includes 2 Properties w/ SFR, Triplex and a Duplex - 3507 and 3511 Montana Ave Totaling 6 Units - 3 Houses and one 1 car garage. Great location central to Billings downtown. All units have been updated in last 5-15 yrs.
Lots are 3507 and 3511 Montana Ave. Current rents = 4587/mo
Taxes on both properties = 2092/yr - Landlord pays utilities = Avg 825/mo - ASKING $263,000 for both. ANALYSIS comes to: 11.6% ROI, 12.4 Cap Rate, 8.6 yr Return of Cash... EXPENSES INCLUDED for ALL units (please see photo of document): both props, closing costs, 10% property mngmnt, 12k for repairs (unknown - safety net plus windows) 1% vacancy - 3% monthly repairs, and utilities.
Sold "As Is"... Buyer pays close.
KNOWN REPAIRS: Possibly tree trim/cut back, windows replaced in next couple yrs, minor cabinet repair in cpl apts. * Recently painted... windows will be scraped.