Turnkey Quadplex With Fully Occupied
For Sale
Contact for pricing
1704 1st Avenue W, Kalispell, MT 59901
A well-maintained quadplex offered turnkey, with all units currently fully occupied for a hands-on or hands-off operator.
Property Size2,622 SF
Price / SF$324.18
Days on Market66
Property Features for 1704 1st Avenue W
General Information
Standard status
Active
Size
2,622 SF
Property subtype
Multifamily
Occupancy
100%
Additional Details
Business Included
Yes
Multifamily Units
4
Building Details
Year Built
1981
Units
4
Tenancy
Multi
Listing Agency:
eXp Realty - Kalispell
Listed By:
Liz Benefield · License #RRE-RBS-LIC-15253
Source:
Crexi
Added: Jun 7
Changed: Aug 8
Last Checked: Aug 11 at 12:40PM
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 eXp Realty - Kalispell
Investment Insights
Based on property information with market context.
This turnkey quadplex is being offered with all four units fully occupied. The property is described as well maintained, providing a straightforward, operational setup for an investor seeking an immediately income-producing multifamily asset. With a total property size of 2,622 square feet, the building is configured as four separate residential units within one structure.
The property is located at 1704 1st Avenue W in KALISPELL, MT 59901. As presented in the offering materials, it includes a reliable rental history, which supports the overall “ready-to-own” nature of the sale.
For buyers, this asset fits well for anyone looking to add a small-balance residential income property with occupancy already in place. Because the offering is turnkey and the units are fully occupied, it may appeal to both new investors who want to minimize ramp-up time and experienced owners looking to expand their portfolio with a maintained, income-generating quadplex. The consistent in-place occupancy can also simplify near-term planning around rents and unit management.
The property is located at 1704 1st Avenue W in KALISPELL, MT 59901. As presented in the offering materials, it includes a reliable rental history, which supports the overall “ready-to-own” nature of the sale.
For buyers, this asset fits well for anyone looking to add a small-balance residential income property with occupancy already in place. Because the offering is turnkey and the units are fully occupied, it may appeal to both new investors who want to minimize ramp-up time and experienced owners looking to expand their portfolio with a maintained, income-generating quadplex. The consistent in-place occupancy can also simplify near-term planning around rents and unit management.
Key Highlights
- Quadplex built in 1981
- All units currently fully occupied
- Well‑maintained property with reliable rental history
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
$26,292
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
3.09%
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%
$525,840
$525.8K
Cap Rate 7%
$375,600
$375.6K
Cap Rate 9%
$292,133
$292.1K
Market Conditions
NOI Build-Up for 2,622 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
$39.3K $15.00/SF
− Vacancy
−$1.8K −$0.68/SF
EGI
$37.6K $14.33/SF
− OpEx
−$11.3K −$4.30/SF
NOI
$26.3K $10.03/SF
Area
Flathead County, MT
Vacancy
4.50%
Lease Rate
$15.00 /SF/Yr
Expense Ratio
30.00%
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%
$525,840
Cap Rate 7%
$375,600
Cap Rate 9%
$292,133
Alternative Uses
Best Use
Multifamily LT 5
$375.6K
$328.7K – $438.2K
NOI $26,292 @ 7.0% cap · market cap 3.09%
Second Best
Apartment 5plus
$349.6K
$305.9K – $407.9K
NOI $24,472 @ 7.0% cap · market cap 2.88%
Theoretical Best
Office A
$585.4K
$512.2K – $683.0K
NOI $40,979 @ 7.0% cap · market cap 4.82%
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
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
2,177
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
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Quadplex - A well-maintained quadplex offered turnkey, with all units currently fully occupied for a hands-on or hands-off operator.
Where is this quadplex located?
The property is located at 1704 1st Avenue W Kalispell, MT.
What is the asking price?
The asking price for this property is $850,000.
What are key features of this property?
This property features: Quadplex built in 1981; All units currently fully occupied; Well‑maintained property with reliable rental history
