Renovated 12-Unit Multifamily
For Sale
$2,995,000
1430 3rd Avenue E, Kalispell, MT 59901
Renovated 12-unit multifamily building operated as furnished short-term rentals in Kalispell’s Flathead Valley.
Property Size9,357 SF
Price / SF$320.08
Days on Market114
Property Features for 1430 3rd Avenue E
General Information
Standard status
Active
Size
9,357 SF
Zoning
B-2
Additional Details
Business Included
Yes
Multifamily Units
12
Building Details
Building Size
9,357 SF
Year Built
2002
Units
12
Tenancy
Multi
Listing Agency:
Coldwell Banker Mountain Properties
Listed By:
Cecil Waatti · License #99389
(406) 890-4000
Source:
Purewestrealestate
Added: Jun 2
Changed: Sep 14
Last Checked: Sep 22 at 1:03PM
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 Coldwell Banker Mountain Properties
Investment Insights
Based on property information with market context.
This beautifully renovated 12-unit multifamily property is currently operated as a furnished short-term rental, marketed in an Airbnb-style hospitality format. Each unit is thoughtfully furnished to function as a convenient guest home base, supporting turnkey stays without requiring immediate tenant outfitting. The property is presented as an income-producing residential asset with an existing hospitality operating model already in place.
Located in the heart of Montana’s Flathead Valley in Kalispell, the property benefits from proximity to year-round regional recreation. Summer demand is supported by Glacier National Park, lakes, hiking, fishing, and other mountain activities. In winter, travelers are drawn to Whitefish Mountain Resort and the area’s ski season, aligning the operating calendar with seasonal visitor patterns.
For buyers seeking a renovated multifamily asset already configured for furnished short-term stays, this offering provides a complete, unit-by-unit furnished approach within a 12-unit structure. Since it is currently operating as a hospitality property with strong occupancy noted by the seller, it may appeal to operators who want to maintain the existing furnished rental format and continue serving guests looking for a central Montana base.
Located in the heart of Montana’s Flathead Valley in Kalispell, the property benefits from proximity to year-round regional recreation. Summer demand is supported by Glacier National Park, lakes, hiking, fishing, and other mountain activities. In winter, travelers are drawn to Whitefish Mountain Resort and the area’s ski season, aligning the operating calendar with seasonal visitor patterns.
For buyers seeking a renovated multifamily asset already configured for furnished short-term stays, this offering provides a complete, unit-by-unit furnished approach within a 12-unit structure. Since it is currently operating as a hospitality property with strong occupancy noted by the seller, it may appeal to operators who want to maintain the existing furnished rental format and continue serving guests looking for a central Montana base.
Key Highlights
- Renovated 12‑unit multifamily building (Year built: 2002) in Kalispell’s Flathead Valley
- Operated as furnished short‑term rentals / Airbnb‑style hospitality asset
- Units are furnished for guest stays
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
$87,332
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
2.92%
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%
$1,746,640
$1.7M
Cap Rate 7%
$1,247,600
$1.2M
Cap Rate 9%
$970,356
$970.4K
Market Conditions
NOI Build-Up for 9,357 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
$165.1K $17.64/SF
− Vacancy
−$6.3K −$0.67/SF
EGI
$158.8K $16.97/SF
− OpEx
−$71.5K −$7.64/SF
NOI
$87.3K $9.33/SF
Area
Flathead County, MT
Vacancy
3.80%
Lease Rate
$17.64 /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%
$1,746,640
Cap Rate 7%
$1,247,600
Cap Rate 9%
$970,356
Alternative Uses
Best Use
Apartment 5plus
$1.25M
$1.09M – $1.46M
NOI $87,332 @ 7.0% cap · market cap 2.92%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.09M
$1.83M – $2.44M
NOI $146,239 @ 7.0% cap · market cap 4.88%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
12
Residential units
Multi-tenant
Tenancy
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
827
Businesses Nearby
Explore this area
Business Placement
Demographics for 59901, MT
57,900
Population
25,154
Households
2.3
Avg Household Size
40
Median Age
33%
College-Educated
96%
High-School Grad
468.8 sq mi
ZIP Area
124
Density / Sq Mi
$70,391
Median Household Income
$38,073
Median Earnings
$1,052
Median Rent
$417,200
Median Home Value
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Market
Vacancy Rate% for Multifamily in West region
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Frequently Asked Questions
What type of property is this?
Short term rental property - Renovated 12-unit multifamily building operated as furnished short-term rentals in Kalispell’s Flathead Valley.
Where is this short term rental property located?
The property is located at 1430 3rd Avenue E Kalispell, MT.
What is the asking price?
The asking price for this property is $2,995,000.
What are key features of this property?
This property features: Renovated 12‑unit multifamily building (Year built: 2002) in Kalispell’s Flathead Valley; Operated as furnished short‑term rentals / Airbnb‑style hospitality asset; Units are furnished for guest stays
