Four-Unit Apartment
For Sale
$650,000
2010 S 8th St W, Missoula, MT 59801
Fully occupied quadplex with one-bedroom residences, alley access, off-street parking, and a shared yard.
Property Size2,162 SF
Price / SF$300.65
Days on Market13
Property Features for 2010 S 8th St W
General Information
Standard status
Active
Size
2,162 SF
Property subtype
Multi-Family
Occupancy
100%
Units
Unit Mix
4 x 1BR/1BA
Multifamily Units
4
Additional Details
Public Transit
Yes
Amenities
spacious yard
off-street parking
Building Details
Year Built
1980
Buildings
1
Listing Agency:
Berkshire Hathaway HomeServices - Missoula
Listed By:
Mike Bryan · License #RRE-BRO-LIC-12300
(406) 370-8734
Source:
Mtranchsales
Added: Sep 10
Changed: Sep 16
Last Checked: Sep 21 at 8:52AM
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.
This 1980-built quadplex contains four one-bedroom, one-bath units totaling 2,162 square feet. The residences are arranged across upper and lower levels, creating a straightforward configuration for multifamily ownership. The property is fully occupied and sits on a level city lot with alley access, additional off-street parking, and a spacious yard.
The building is located at 2010 S 8th St W in Missoula, with access to downtown, the University of Montana, Southgate Mall, parks, public transportation, shopping, dining, and major employment centers. Its four-unit layout and established occupancy provide a clear operating profile for an owner or investor.
The building is located at 2010 S 8th St W in Missoula, with access to downtown, the University of Montana, Southgate Mall, parks, public transportation, shopping, dining, and major employment centers. Its four-unit layout and established occupancy provide a clear operating profile for an owner or investor.
Key Highlights
- Four one‑bedroom, one‑bath units
- 2,162 square feet of living space
- Built in 1980
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
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Current Use
Lease Details
4
Residential units
100%
Occupancy
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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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?
Quadplex - Fully occupied quadplex with one-bedroom residences, alley access, off-street parking, and a shared 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: Four one‑bedroom, one‑bath units; 2,162 square feet of living space; Built in 1980
