Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    The Largest CRE Database in the US with Over 1 Million Listings

    516 W Olive Bozeman, MT 59715

    View on Map
    Claim this Listing
    For Sale
    $1,745,000

    MULTI_FAMILY - Bozeman, MT

    Added:
    Oct 29, 2025
    Days on Market:
    175
    Last Refresh:
    Apr 21 at 4:06 pm

    Property Features for 516 W Olive

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Parking features
    On Street
    Standard status
    Active
    APN
    RGG2850

    Taxes and HOA fees

    Tax Year
    2024
    Tax Description
    PARK ADD, S12, T02 S, R05 E, BLOCK 12, LOT 20 - 24, E2 LOTS
    Tax Annual Amount
    8143

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Forced Air
    Water source
    Public

    Building Details

    Year built
    1905
    Floors in Building
    2
    Number of units
    6

    We can help!

    Listing Contact
    Mike Basile
    Mike Basile

    Listing agent Mike Basile License #BRO-220

    Listing office Berkshire Hathaway - Bozeman 2001 Stadium Drive, Bozeman, MT

    Listing date Oct 29, 2025

    MLS# 406659 Listing URL

    Copyright © 2026 Big Sky Country MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Bozeman Multifamily Investment Opportunity

    This multifamily property, rich in character and showcasing timeless craftsmanship, features thoughtful updates throughout. The building presents a classic Dutch Colonial-style roofline and a charming front entry. The property comprises six units, offering a mix of one and two-bedroom layouts. Additionally, there are three rental garages, providing a steady income stream. The property is conveniently located close to downtown Bozeman and Montana State University.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Apartment buildings

    Suggested Use

    Real Estate Agency Law Firm Restaurant Dental Office Spa & Massage Center Hair Salon Nail Salon Building Supply Gym & Fitness Center Accounting Firm

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Bozeman
    County
    Gallatin
    State
    Montana
    Longitude
    -111.044732
    Latitude
    45.676995

    Nearby Similar for Sale

    • $2,950,000
      8,706 SF

      High-Traffic Bozeman Commercial Redevelopment

      Redevelopment opportunity in high-traffic Bozeman location near Gallatin Valley Mall.
      3100 W Main Street, Bozeman, MT 59718
      View Details
    • $1,200,000

      Commercial Opportunity in Bozeman, MT

      Prime commercial property in Bozeman's thriving Valley Commons area.
      3930 Valley Commons, Bozeman, MT 59718
      View Details
    • $898,500
      2,797 SF

      Versatile Live-Work Space in Bozeman

      2,797 sq ft live-work space with shop and living area.
      2607 Fremont Street, Bozeman, MT 59718
      View Details
    • $859,555
      2,671 SF

      Versatile Commercial Space with Flex Plan

      Mixed-use property with commercial space and flexible upper level.
      2605 Fremont Street, Bozeman, MT 59718
      View Details
    • $958,000

      Custom Duplex Near Downtown Bozeman

      Thoughtfully designed duplex in a prime Northeast Bozeman location.
      17/19 E Aspen Street, Bozeman, MT 59715
      View Details
    • $2,300,000
      1,469 SF

      Bozeman Acreage with Water Features

      33+ acres near Bozeman with residential and land-use possibilities.
      3 Mallard Lane, Bozeman, MT 59718
      View Details
    • $1,575,000

      Bozeman Fourplex Investment Opportunity

      Well-maintained fourplex in a desirable Bozeman location, fully leased.
      2401 Daws Drive, Bozeman, MT 59718
      View Details
    • $849,000

      Versatile Bozeman Property Near MSU

      Spacious property near Montana State University with flexible living options.
      1302 S 3rd, Bozeman, MT 59715
      View Details
    • $849,000

      Bozeman Duplex Near MSU

      Versatile duplex near Montana State University with flexible living options.
      1302 S 3rd, Bozeman, MT 59715
      View Details
    • $1,175,000

      Bozeman Multifamily Investment Opportunity

      Southside property near MSU with strong income potential.
      517 S 13th Avenue, Bozeman, MT 59715
      View Details
    • $29,900

      Established Photography Business in Bozeman

      Turnkey photography business for sale in downtown Bozeman, Montana.
      111 S Grand unit: 219, Bozeman, MT 59715
      View Details
    • $1,739,000
      1,667 SF

      Productive Irrigated Land For Sale

      21+ acres with water rights, barns, sheds, and home.
      7543 Fowler Lane, Bozeman, MT 59718
      View Details

    FAQs

    What type of property is this?
    Apartment building - Well-maintained multifamily property near downtown Bozeman and Montana State University.
    Where is this apartment building located?
    The property is located at 516 W Olive Bozeman, MT.
    What is the asking price?
    The asking price for this property is $1,745,000.
    What are key features of this property?
    This property features: Steady income stream from six units and three rental garages.; Convenient location close to downtown Bozeman and Montana State University.; Beautifully maintained property rich in character.
    (406) 579-6530
    We can help!
    Listing Contact
    Mike Basile
    Mike Basile
    Real Estate License ID: BRO-220
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!