2-Unit Multifamily
340 South Avenue W, Missoula, MT 59801
For Sale
$969,500
ResidentialIncome, Missoula, MT
Property Size3,388 SF
Lot Size0.19 Acres
Price / SF$286.16
Days on Market158
Property Features for 340 South Avenue W
General Information
Property type
Property subtype
Zoning
Zoning description
Rooms
Parking features
Security features
Interior features
Exterior features
Fireplace
Appliances
Lot features
Directions
Standard status
APN
Lot size
Additional Details
Tenant in Place
Individually Metered Utilities
Taxes and HOA fees
Tax Year
Tax Description
Tax Annual Amount
Legal Description
Utilities
Sewer type
Heating system
Water source
Building Details
Year built
Floors in Building
Number of units
Buildings
Listing Agency:
Engel & Volkers Western Frontier - Missoula · Engel & Völkers
(406) 926-3322
Listed By:
Beth Baumstark · License #RRE-RBS-LIC-119411
(406) 370-3562
Added: Jun 3
Changed: Nov 1
Last Checked: Nov 7 at 1:06AM
MLS# 30072597
Copyright © 2026 Montana Regional MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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Investment Insights
Based on property information with market context.
This residential property on a 0.186-acre lot includes a 1951 main house and a separate carriage house built in 1910. The main residence offers 3,068 square feet total, including 2,808 square feet of finished area and 260 square feet of utility and storage space. The carriage house has 320 square feet of finished area. Together, the buildings total 3,388 square feet.
The main house features original hardwood floors, an eat-in kitchen, a gas fireplace, and a finished basement with living space and storage. Updates over the past 10 years include work to the heating system, roof, bathrooms, windows, driveway, and patio. A two-car garage serves the main residence. Each dwelling has separate water and power service, along with private access.
The main house features original hardwood floors, an eat-in kitchen, a gas fireplace, and a finished basement with living space and storage. Updates over the past 10 years include work to the heating system, roof, bathrooms, windows, driveway, and patio. A two-car garage serves the main residence. Each dwelling has separate water and power service, along with private access.
Key Highlights
- Two dwellings totaling 3,388 square feet on 0.186 acres
- Main house: 3,068 square feet total, including 2,808 finished square feet and 260 square feet of utility and storage space
- 1910 carriage house with 320 square feet of finished area
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$36,167
Cap Rate
3.73%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$723,340
$723.3K
Cap Rate 7%
$516,671
$516.7K
Cap Rate 9%
$401,856
$401.9K
Market Conditions
NOI Build-Up for 3,388 SF
Gross rent
$71.6K $21.12/SF
− Vacancy
−$5.8K −$1.71/SF
EGI
$65.8K $19.41/SF
− OpEx
−$29.6K −$8.73/SF
NOI
$36.2K $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 Rate 5%
$723,340
Cap Rate 7%
$516,671
Cap Rate 9%
$401,856
Alternative Uses
Best Use
Apartment 5plus
$516.7K
$452.1K – $602.8K
NOI $36,167 @ 7.0% cap · market cap 3.73%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$976.8K
$854.7K – $1.14M
NOI $68,378 @ 7.0% cap · market cap 7.05%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,009
Businesses Nearby
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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
$393,400
Median Home Value
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Market
Average Price Trend$/SF for Multifamily properties in Missoula, MT
Properties on Market for Multifamily properties in Missoula
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Multifamily property - Two separate dwellings have individual utility services and private access.
Where is this multifamily property located?
The property is located at 340 South Avenue W Missoula, MT.
What is the asking price?
The asking price for this property is $969,500.
What are key features of this property?
This property features: Two dwellings totaling 3,388 square feet on 0.186 acres; Main house: 3,068 square feet total, including 2,808 finished square feet and 260 square feet of utility and storage space; 1910 carriage house with 320 square feet of finished area
