426 Colbalt Dr Kalispell, MT 59901
- Land
- 28,265 SF
- 0.91 lot acres
Current Use by Public Records
- Land
Property Details for 426 Colbalt Dr
- Year built
- 2024
- Lot size
- 0.91 lot acres
- Property size
- 28,265 SF
- Property type
- Land
- Property subtype
- Apartment buildings
Description
This exceptional new construction apartment building, completed in 2024, presents a compelling investment opportunity in Kalispell, Montana. Located at 426 Colbalt Drive, this three-story, 28,265 square foot property boasts 24 units, offering a mix of one-bedroom/one-bathroom, two-bedroom/one-bathroom, and two-bedroom/two-bathroom floor plans. The property sits on a 0.91-acre lot zoned RA-1/PUD, providing excellent potential for future development or expansion. The building's prime location on the south end of Kalispell, just off the bypass and within a minute of Rankin Elementary, ensures high occupancy rates. A nearby playground enhances the property's appeal. Currently, units are already being leased, and a property management company is in place, streamlining operations. The asking price is $7,500,000, translating to $312,500 per unit and a price per square foot of $265.35. The pro-forma NOI is $378,472, representing a 5.05% cap rate. This turnkey investment offers immediate cash flow and significant long-term growth potential in a thriving Montana market. The property is conveniently located near amenities and benefits from its proximity to a local elementary school.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Kalispell
- County
- Flathead
- State
- Montana
- Longitude
- -114.309
- Latitude
- 48.1678
