201 9th Avenue NW, Sidney, MT 59270

This turnkey offering features a 20-unit, garden-style apartment complex arranged for multi-tenant residential income. The property is presented as a value-add opportunity with a renovation approach designed to standardize unit quality to the level of Unit 206. Unit 206 is currently leased at $1,350 per month, and the stated renovation plan calls for renovating all 20 units to that higher standard, targeting $1,600 per unit per month after improvements.

The current financial snapshot provided includes a monthly Gross Potential Rent calculation of 19 units at $1,050 plus Unit 206 at $1,350, for total monthly gross rent of $21,300. Annual gross revenue is shown as $255,600, with NOI calculated at 0.65 times gross revenue, resulting in $165,660. A pro forma scenario is also provided: renovating all 20 units to the $1,600 target rent would produce projected annual gross revenue of $384,000 and projected NOI of $249,600, using the same 0.65 factor. The materials cite a 5.25% cap rate assumption and an implied value based on the future NOI.

For commercial investors and 1031 exchange prospects, this package is underwritten around a clear, unit-by-unit renovation framework and a stabilized NOI calculation method carried from the current to the future scenario. The property’s turnkey presentation is intended to support a straightforward acquisition process aligned with the stated renovation plan.