Condo-Managed Four-Unit
607 Professional Drive Unit 4, Bozeman, MT 59718
For Sale
$1,100,000
Fully occupied four-unit property offers separately metered apartments with in-unit laundry and city water and sewer service.
Property Size3,245 SF
Days on Market151
Property Features for 607 Professional Drive Unit 4
General Information
Standard status
Size
Property subtype
Occupancy
Additional Details
Business Included
Multifamily Units
Building Details
Building Size
Year Built
Units
Listing Agency:
Starner Commercial Real Estate
Listed By:
Michael Reams, CCIM · License MT RRE-BRO-LIC-79158
(406) 451-8283
Source:
Commercialcafe
Added: Jun 16
Changed: Nov 11
Last Checked: Nov 12 at 4:45AM
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 Starner Commercial Real Estate
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Investment Insights
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This fully occupied four-unit multifamily property is condominiumized, with all four apartments comprising Unit 4 of the condominium association. The unit mix includes two 2-bedroom/1-bath apartments, one 2-bedroom/2-bath apartment, and one 1-bedroom/1-bath apartment. Each apartment is separately metered and served by city water and sewer, with natural gas forced-air heating, air conditioning, and private in-unit laundry. The building is described as well maintained, with updated carpet and appliances throughout and no known deferred maintenance. Exterior and site improvements include cement board siding, a metal roof, and underground irrigation. Professional property management and association services are in place to support low-maintenance ownership.
Located centrally in the City of Bozeman, the property is on the second floor above ground-floor commercial space. The offering is positioned near Montana State University, shopping, restaurants, and public transportation, providing convenient access to everyday amenities.
For buyers seeking a stabilized residential income asset, the separately metered apartments, in-unit laundry, and mix of unit types can support tenant fit across different household needs. The condominium association’s coverage of lawn care, snow removal, garbage service, and other common area expenses further simplifies ongoing operations for the new owner.
Located centrally in the City of Bozeman, the property is on the second floor above ground-floor commercial space. The offering is positioned near Montana State University, shopping, restaurants, and public transportation, providing convenient access to everyday amenities.
For buyers seeking a stabilized residential income asset, the separately metered apartments, in-unit laundry, and mix of unit types can support tenant fit across different household needs. The condominium association’s coverage of lawn care, snow removal, garbage service, and other common area expenses further simplifies ongoing operations for the new owner.
Key Highlights
- Fully occupied four‑unit multifamily property with a proven history of strong rental performance and stable cash flow
- Unit mix: two 2BD/1BA units, one 2BD/2BA unit, and one 1BD/1BA unit
- Condominiumized building: all four apartments are Unit 4 above ground‑floor commercial space
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$36,578
Cap Rate
3.33%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$731,560
$731.6K
Cap Rate 7%
$522,543
$522.5K
Cap Rate 9%
$406,422
$406.4K
Market Conditions
NOI Build-Up for 3,245 SF
Gross rent
$55.3K $17.04/SF
− Vacancy
−$3.0K −$0.94/SF
EGI
$52.3K $16.10/SF
− OpEx
−$15.7K −$4.83/SF
NOI
$36.6K $11.27/SF
Area
Gallatin County, MT
Vacancy
5.50%
Lease Rate
$17.04 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$731,560
Cap Rate 7%
$522,543
Cap Rate 9%
$406,422
Alternative Uses
Best Use
Multifamily LT 5
$522.5K
$457.2K – $609.6K
NOI $36,578 @ 7.0% cap · market cap 3.33%
Second Best
Apartment 5plus
$485.4K
$424.7K – $566.3K
NOI $33,978 @ 7.0% cap · market cap 3.09%
Theoretical Best
Office A
$847.3K
$741.4K – $988.6K
NOI $59,313 @ 7.0% cap · market cap 5.39%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
4
Residential units
100%
Occupancy
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
1,135
Businesses Nearby
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Business Placement
Demographics for 59718, MT
43,831
Population
19,765
Households
2.2
Avg Household Size
33
Median Age
57%
College-Educated
97%
High-School Grad
164.5 sq mi
ZIP Area
266
Density / Sq Mi
$91,852
Median Household Income
$44,915
Median Earnings
$1,748
Median Rent
$579,800
Median Home Value
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Market
Properties on Market for Quadplexes in Gallatin County
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Quadplex - Fully occupied four-unit property offers separately metered apartments with in-unit laundry and city water and sewer service.
Where is this quadplex located?
The property is located at 607 Professional Drive Unit 4 Bozeman, MT.
What is the asking price?
The asking price for this property is $1,100,000.
What are key features of this property?
This property features: Fully occupied four‑unit multifamily property with a proven history of strong rental performance and stable cash flow; Unit mix: two 2BD/1BA units, one 2BD/2BA unit, and one 1BD/1BA unit; Condominiumized building: all four apartments are Unit 4 above ground‑floor commercial space
