Fourplex with Level Lot
For Sale
$650,000
2010 S 8th St W, Missoula, MT 59801
Fully occupied fourplex with four one-bedroom, one-bath units, alley access, off-street parking, and a spacious yard.
Property Size2,162 SF
Price / SF$300.65
Days on Market22
Property Features for 2010 S 8th St W
General Information
Standard status
Active
Size
2,162 SF
Property subtype
Multi-Family
Occupancy
100%
Additional Details
Multifamily Units
4
Amenities
off-street parking
spacious yard
Building Details
Year Built
1980
Tenancy
Multi
Listing Agency:
Berkshire Hathaway HomeServices - Missoula
(406) 370-8734
Listed By:
Mike Bryan · License #RRE-BRO-LIC-12300
Source:
Toporealestate
Added: Jul 21
Changed: Jul 23
Last Checked: Aug 11 at 10:08AM
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 Berkshire Hathaway HomeServices - Missoula
Investment Insights
Based on property information with market context.
2010 S 8th St W is a fully occupied fourplex built in 1980, offering four one-bedroom, one-bath units. The building includes a mix of upper and lower-level units, designed to provide practical, efficient living space. The property is set on a level city lot and includes alley access, additional off-street parking, and a spacious yard.
Located in the Franklin to the Fort neighborhood of Missoula, the property offers convenient access to downtown Missoula and the University of Montana. Tenants are also near Southgate Mall, local parks, public transportation, shopping, dining, and major employment centers.
With four similar unit configurations and straightforward building layout, this fourplex is well suited for investors seeking rental stability or an owner-occupant looking to offset housing expenses with rental income.
Located in the Franklin to the Fort neighborhood of Missoula, the property offers convenient access to downtown Missoula and the University of Montana. Tenants are also near Southgate Mall, local parks, public transportation, shopping, dining, and major employment centers.
With four similar unit configurations and straightforward building layout, this fourplex is well suited for investors seeking rental stability or an owner-occupant looking to offset housing expenses with rental income.
Key Highlights
- Fully occupied fourplex built in 1980
- Four 1‑bedroom, 1‑bath units
- Over 2,100 sq ft of total living space
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$23,080
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.55%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$461,600
$461.6K
Cap Rate 7%
$329,714
$329.7K
Cap Rate 9%
$256,444
$256.4K
Market Conditions
NOI Build-Up for 2,162 SF
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.
Gross rent
$45.7K $21.12/SF
− Vacancy
−$3.7K −$1.71/SF
EGI
$42.0K $19.41/SF
− OpEx
−$18.9K −$8.73/SF
NOI
$23.1K $10.68/SF
Area
Missoula County, MT
Vacancy
8.10%
Lease Rate
$21.12 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$461,600
Cap Rate 7%
$329,714
Cap Rate 9%
$256,444
Alternative Uses
Best Use
Apartment 5plus
$329.7K
$288.5K – $384.7K
NOI $23,080 @ 7.0% cap · market cap 3.55%
Second Best
Multifamily LT 5
$309.1K
$270.4K – $360.6K
NOI $21,634 @ 7.0% cap · market cap 3.33%
Theoretical Best
Specialty Retail
$623.4K
$545.4K – $727.3K
NOI $43,635 @ 7.0% cap · market cap 6.71%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
657
Businesses Nearby
Explore this area
Business Placement
Demographics for 59801, MT
30,629
Population
15,814
Households
1.9
Avg Household Size
34
Median Age
51%
College-Educated
97%
High-School Grad
7.7 sq mi
ZIP Area
3,978
Density / Sq Mi
$55,022
Median Household Income
$34,320
Median Earnings
$1,086
Median Rent
$393,400
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?
Quadplex - Fully occupied fourplex with four one-bedroom, one-bath units, alley access, off-street parking, and a spacious yard.
Where is this quadplex located?
The property is located at 2010 S 8th St W Missoula, MT.
What is the asking price?
The asking price for this property is $650,000.
What are key features of this property?
This property features: Fully occupied fourplex built in 1980; Four 1‑bedroom, 1‑bath units; Over 2,100 sq ft of total living space
