Property Type: Multi-Unit
Sq Ft: 2800
ATTENTION Montana Investors! This Sale Includes 3507 and 3511 MT Ave, Billings MT
2 Properties w/ 1-SFR, 1-Triplex and 1-Duplex = 6 Units - plus 1 car garage. Great location central to Billings downtown. Progressive repairs and updates done in last 5-15 yrs. Does NEED WORK.
Current rents = $4587/mo
Taxes on both properties = 2944/yr - Landlord pays utilities = Avg 825/mo - WAS $242,000 - NOW 226k ANALYSIS comes to: 11.4% ROI and 13.1 Cap Rate
EXPENSES INCLUDE = ALL units (please see photo of document): both props, closing costs, 10% property mngmnt, 25k for repairs (electric needs updated + unknown plus windows) 2% vacancy - 3% monthly repairs, and utilities. REPAIRS based on Rental Grade.
Sold "As Is"... Buyer pays close.
Recently painted exterior
Seller willing to carry with 40k down - 6% over 20 yr w 7 year balloon