21-Unit Multifamily Income
305 46th Street N Great Falls, MT 59405
305 46th Street N, Great Falls, MT, 59405
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For Sale
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Twenty-one residential units with in-place gross rental income and on-site garage and laundry facilities.
Property Size16,785 SF
Price / SF$163.84
Days on Market144
Property Features for 305 46th Street N
General Information
- Standard status
- Active
- Size
- 16,785 SF
- Property subtype
- Multifamily
Building Details
- Year Built
- 1998
Listing agency
Dustin Young And Company
(406) 727-7100
Listed by
Audrey Lazzarini · License #RRE-BRO-LIC-109078
Source
Crexi
Added: Feb 27 Updated: Jul 20 at 9:57PM Checked: Jul 21 at 9:22AM
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 Dustin Young And Company
Investment Insights
Based on property information with market context.
This 21-unit multifamily property offers a diverse mix of apartments, including twelve 2-bedroom units, six 1-bedroom units, one 3-bedroom unit, and two studio units, along with an owner-rented garage space. The building includes in-unit climate systems with individual air conditioning and individual gas forced air. Several apartments have updated flooring, and the property also generates additional income from four coin-operated laundry machines in the common area.
Tenants pay their own electric and gas utilities, while the owner covers water service and common area utilities. Three garage spaces are located on site, and one space is currently being converted into a new 2-bedroom, 1-bath unit.
Operationally, the property is configured to support ongoing rental income through the combination of apartment units, laundry revenue, and garage utilization while allowing further improvements related to the ongoing unit conversion.
Tenants pay their own electric and gas utilities, while the owner covers water service and common area utilities. Three garage spaces are located on site, and one space is currently being converted into a new 2-bedroom, 1-bath unit.
Operationally, the property is configured to support ongoing rental income through the combination of apartment units, laundry revenue, and garage utilization while allowing further improvements related to the ongoing unit conversion.
Key Highlights
- 21‑unit multifamily property built in 1998 with in‑place gross rental income of approx. $22,095/month.
- Unit mix includes twelve 2‑bedroom, six 1‑bedroom, one 3‑bedroom, and two studio units, plus an owner‑rented garage space.
- Tenants pay their own electric and gas utilities; ownership covers water service and common area utilities.
Local Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $247.7k | $14.76 |
| − Vacancy | −$14.4k | −$0.86 |
| EGI | $233.4k | $13.90 |
| − OpEx | −$105.0k | −$6.26 |
| NOI | $128.4k | $7.65 |
16,785 SF · lease $14.76/SF/yr · vacancy 5.80% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$1.83M
$1.60M – $2.14M
NOI $128,358 @ 7.0% cap · market cap 4.67%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$3.27M
$2.86M – $3.81M
NOI $228,658 @ 7.0% cap · market cap 8.31%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
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FAQs
What type of property is this?
Apartment building - Twenty-one residential units with in-place gross rental income and on-site garage and laundry facilities.
Where is this apartment building located?
The property is located at 305 46th Street N Great Falls, MT.
What is the asking price?
The asking price for this property is $2,750,000.
What are key features of this property?
This property features: 21‑unit multifamily property built in 1998 with in‑place gross rental income of approx. $22,095/month.; Unit mix includes twelve 2‑bedroom, six 1‑bedroom, one 3‑bedroom, and two studio units, plus an owner‑rented garage space.; Tenants pay their own electric and gas utilities; ownership covers water service and common area utilities.
