30-Unit Apartment
New
For Sale
$5,500,000
130 W Kent Avenue, Missoula, MT 59801
Two-building multifamily property with renovated elements, on-site laundry, courtyard space, and access to University District amenities.
Property Size16,934 SF
Lot Size0.62 Acres
Days on Market4
Property Features for 130 W Kent Avenue
General Information
Standard status
Active
Size
16,934 SF
Net Rentable
20,980 SF
Total Parking Spaces
30
Lot size
0.62 Acres
Property subtype
Apartment
Units
Unit Mix
26 x 1BR/1BA, 4 x 2BR/1BA
Multifamily Units
30
Parking per Unit
1
Taxes and HOA fees
Annual Taxes
$62,010
Amenities
outdoor courtyard
on-site laundry
on-site maintenance
Building Details
Building Size
16,934 SF
Year Built
1968
Buildings
2
Listing Agency:
Engel & Völkers - Bozeman
(406) 880-5985
Listed By:
Ashley Inglis · License #RRE-RBS-LIC-99047
(406) 880-5985
Source:
Montanapropertyangels
Added: Aug 14
Changed: Aug 17
Last Checked: Aug 17 at 3:38AM
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 Engel & Völkers - Bozeman
Investment Insights
Based on property information with market context.
The Grove Apartments is a 30-unit property comprising a primary apartment building and an adjoining duplex, with approximately 20,980 square feet of net rentable area across 0.62 acres. The unit mix includes 26 one-bedroom, one-bath residences and four two-bedroom, one-bath residences, with average unit sizes of approximately 699 square feet. On-site features include 30 parking spaces, laundry facilities, maintenance space, an outdoor courtyard, and kitchens equipped with breakfast bars, built-in storage, vinyl flooring, vanity areas, and full-size showers and/or bathtubs.
Built in 1968, the property has received a full roof replacement, new vinyl windows throughout the apartment building, updated flooring, and interior paint. The address is in Missoula’s University District at 130 W Kent Avenue, with nearby access to the University of Montana, downtown Missoula, dining, breweries, recreation, and walking and biking trails.
Built in 1968, the property has received a full roof replacement, new vinyl windows throughout the apartment building, updated flooring, and interior paint. The address is in Missoula’s University District at 130 W Kent Avenue, with nearby access to the University of Montana, downtown Missoula, dining, breweries, recreation, and walking and biking trails.
Key Highlights
- 30‑unit property with 26 one‑bedroom units and four two‑bedroom units
- Approximately 20,980 square feet of net rentable area on 0.62 acres
- 30 parking spaces, providing a 1:1 parking ratio
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
$180,772
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
3.29%
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%
$3,615,440
$3.6M
Cap Rate 7%
$2,582,457
$2.6M
Cap Rate 9%
$2,008,578
$2.0M
Market Conditions
NOI Build-Up for 16,934 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
$357.6K $21.12/SF
− Vacancy
−$29.0K −$1.71/SF
EGI
$328.7K $19.41/SF
− OpEx
−$147.9K −$8.73/SF
NOI
$180.8K $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%
$3,615,440
Cap Rate 7%
$2,582,457
Cap Rate 9%
$2,008,578
Alternative Uses
Best Use
Apartment 5plus
$2.58M
$2.26M – $3.01M
NOI $180,772 @ 7.0% cap · market cap 3.29%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$4.88M
$4.27M – $5.70M
NOI $341,770 @ 7.0% cap · market cap 6.21%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
30
Residential units
Location Intelligence
Trade Area within ½ mile
1,450
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
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Frequently Asked Questions
What type of property is this?
Apartment building - Two-building multifamily property with renovated elements, on-site laundry, courtyard space, and access to University District amenities.
Where is this apartment building located?
The property is located at 130 W Kent Avenue Missoula, MT.
What is the asking price?
The asking price for this property is $5,500,000.
What are key features of this property?
This property features: 30‑unit property with 26 one‑bedroom units and four two‑bedroom units; Approximately 20,980 square feet of net rentable area on 0.62 acres; 30 parking spaces, providing a 1:1 parking ratio
