5-Unit Apartment
626 8th Avenue S, Great Falls, MT 59405
For Sale
New
$699,000
City approval for a sixth unit adds a documented expansion option to this income-producing property.
Property Size4,792 SF
Days on Market4
Property Features for 626 8th Avenue S
General Information
Standard status
Size
Property subtype
Additional Details
Multifamily Units
Tenant in Place
Taxes and HOA fees
Annual Taxes
Building Details
Building Size
Year Built
Listing Agency:
RE/MAX of Great Falls
Listed By:
Beth Schoenen · License MT RRE-BRO-LIC-13810
(406) 899-8784
Source:
Liveinmtrealestate
Added: Nov 6
Changed: Nov 8
Last Checked: Nov 8 at 6:16PM
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 RE/MAX of Great Falls
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Investment Insights
Based on property information with market context.
This 5-unit apartment property was built in 1977 and includes a unit currently being renovated. City approval is in place for a sixth unit, providing a defined expansion option alongside the existing apartments.
The property is a short walk from downtown and 10th Avenue South, with restaurants, shopping, entertainment, and daily amenities nearby.
The property is a short walk from downtown and 10th Avenue South, with restaurants, shopping, entertainment, and daily amenities nearby.
Key Highlights
- Five existing apartment units
- City approval in place for a sixth unit
- One unit is undergoing renovation
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$36,645
Cap Rate
5.24%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$732,900
$732.9K
Cap Rate 7%
$523,500
$523.5K
Cap Rate 9%
$407,167
$407.2K
Market Conditions
NOI Build-Up for 4,792 SF
Gross rent
$70.7K $14.76/SF
− Vacancy
−$4.1K −$0.86/SF
EGI
$66.6K $13.90/SF
− OpEx
−$30.0K −$6.26/SF
NOI
$36.6K $7.65/SF
Area
Cascade County, MT
Vacancy
5.80%
Lease Rate
$14.76 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$732,900
Cap Rate 7%
$523,500
Cap Rate 9%
$407,167
Alternative Uses
Best Use
Apartment 5plus
$523.5K
$458.1K – $610.8K
NOI $36,645 @ 7.0% cap · market cap 5.24%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$932.6K
$816.0K – $1.09M
NOI $65,280 @ 7.0% cap · market cap 9.34%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Open Analytics
Lease Details
5
Residential units
Location Intelligence
Trade Area within ½ mile
1,329
Businesses Nearby
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Business Placement
Demographics for 59405, MT
33,578
Population
15,260
Households
2.2
Avg Household Size
35
Median Age
29%
College-Educated
94%
High-School Grad
479.4 sq mi
ZIP Area
70
Density / Sq Mi
$60,509
Median Household Income
$37,431
Median Earnings
$947
Median Rent
$236,800
Median Home Value
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Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Apartment building - City approval for a sixth unit adds a documented expansion option to this income-producing property.
Where is this apartment building located?
The property is located at 626 8th Avenue S Great Falls, MT.
What is the asking price?
The asking price for this property is $699,000.
What are key features of this property?
This property features: Five existing apartment units; City approval in place for a sixth unit; One unit is undergoing renovation
