12 3Rd Ave Laurel, MT 59044
- Apartment buildings
Current Use by Public Records
- Laurel Insurance / Insurance Agency
Property Details for 12 3Rd Ave
- Year built
- 1916
- Property type
- Apartment buildings
Description
This exceptional investment opportunity presents a six-unit apartment building located at 12 3rd Ave, Laurel, Montana, 59044, in the Central Business District (CBD). The property, built in 1916, consists of three single-story buildings situated on a substantial 21,000 square foot lot. Currently boasting 100% occupancy with six one-bedroom, one-bathroom apartments all leased month-to-month, this value-add property offers significant potential. The strong cash flow is evident in the current Net Operating Income (NOI) of $40,471, translating to a 6.58% capitalization rate. Further enhancing the investment potential is an included 12,600 square foot vacant lot, ideal for future development, which, when excluded from the assessment, increases the cap rate to 7.8%. Adding to the income stream is an on-site coin-operated laundry facility, complete with washer and dryer. A detached two-car garage provides additional rental income or storage possibilities. 24-hour notice is required for showings. This property offers a rare blend of immediate cash flow and future development potential in a desirable location.
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
- Laurel
- County
- Yellowstone
- State
- Montana
- Longitude
- -108.775
- Latitude
- 45.6693
