Classic Triplex with Separate
For Sale
$529,000
1138 Toole Avenue, Missoula, MT 59802
Built in 1890, this triplex offers three well-maintained units with separate heat and water meters.
Property Size2,344 SF
Price / SF$225.68
Days on Market8
Property Features for 1138 Toole Avenue
General Information
Standard status
Active
Size
2,344 SF
Property subtype
Triplex
Amenities
Garage Spaces: 0
Style: Other
Other
Building Details
Year Built
1890
Listing Agency:
Stelling & Associates
(406) 728-9200
Listed By:
Stephen Stelling · License #RRE-BRO-LIC-87958
Source:
Clearwaterproperties
Added: Jul 26
Changed: Jul 27
Last Checked: Aug 1 at 8:52AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Stelling & Associates
Investment Insights
Based on property information with market context.
This charming 1890 triplex features classic character, a covered front porch, and a shared entry hall serving three well-maintained units. One spacious 2-bedroom unit is currently owner-occupied and excluded from the current rental numbers, leaving room to increase future income. Each unit includes individual washer and dryer hookups, along with separate heat and water meters, supporting straightforward resident utility management.
Located in the heart of Missoula, the property is described as being just minutes from downtown and St. Patrick Hospital. The home sits on a sunny, south-facing corner lot, adding to its curb appeal.
The building’s configuration and utility setup make it well-suited for an owner-operator or investor seeking a multi-unit arrangement with distinct metering for each unit.
Located in the heart of Missoula, the property is described as being just minutes from downtown and St. Patrick Hospital. The home sits on a sunny, south-facing corner lot, adding to its curb appeal.
The building’s configuration and utility setup make it well-suited for an owner-operator or investor seeking a multi-unit arrangement with distinct metering for each unit.
Key Highlights
- Triplex built in 1890 with three well‑maintained units
- South‑facing corner lot with a covered front porch and a shared entry hall
- Each unit has separate heat and water meters
Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $49.5k | $21.12 |
| − Vacancy | −$4.0k | −$1.71 |
| EGI | $45.5k | $19.41 |
| − OpEx | −$20.5k | −$8.73 |
| NOI | $25.0k | $10.68 |
2,344 SF · lease $21.12/SF/yr · vacancy 8.10% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$357.5K
$312.8K – $417.0K
NOI $25,022 @ 7.0% cap · market cap 4.73%
Second Best
Multifamily LT 5
$335.1K
$293.2K – $390.9K
NOI $23,455 @ 7.0% cap · market cap 4.43%
Theoretical Best
Specialty Retail
$675.8K
$591.4K – $788.5K
NOI $47,308 @ 7.0% cap · market cap 8.94%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
3,043
Businesses Nearby
Explore this area
Business Placement
Demographics for 59802, MT
19,892
Population
10,416
Households
1.9
Avg Household Size
37
Median Age
52%
College-Educated
96%
High-School Grad
45.4 sq mi
ZIP Area
438
Density / Sq Mi
$65,054
Median Household Income
$36,541
Median Earnings
$1,021
Median Rent
$420,200
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Triplex - Built in 1890, this triplex offers three well-maintained units with separate heat and water meters.
Where is this triplex located?
The property is located at 1138 Toole Avenue Missoula, MT.
What is the asking price?
The asking price for this property is $529,000.
What are key features of this property?
This property features: Triplex built in 1890 with three well‑maintained units; South‑facing corner lot with a covered front porch and a shared entry hall; Each unit has separate heat and water meters
