426 Colbalt Dr Kalispell, MT 59901
- Apartment buildings
- 56,530 SF
- 1.82 lot acres
Current Use by Public Records
- Apartment buildings
Property Details for 426 Colbalt Dr
- Year built
- 2024
- Lot size
- 1.82 lot acres
- Property size
- 56,530 SF
- Property type
- Apartment buildings
Description
This exceptional investment opportunity presents two brand-new, three-story apartment buildings totaling 48 units in Kalispell, Montana. Completed in 2024, this 56,530 square foot complex boasts a mix of one- and two-bedroom units, each with one or two bathrooms. Strategically located on a 1.82-acre lot at 426 Colbalt Drive (and a second building at 432 Colbalt Drive), the property enjoys convenient access to the bypass and is less than a minute from Rankin Elementary. The complex features a playground and benefits from an existing property management company, ensuring seamless operation. The asking price is $15,000,000, representing a price per square foot of $265.35 and a pro-forma cap rate of 5.00%, yielding a pro-forma NOI of $378,472. The property is zoned Residential/RA-1/PUD, offering stability and potential for future growth. This is a turnkey investment ready for immediate income generation in a desirable location. Each building is a 24-unit complex. This is a rare opportunity to acquire a newly constructed, high-quality multifamily property in a thriving Montana market.
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
- -114.27
- Latitude
- 48.1866
