900 Otis Ave Ennis, MT 59729

Property Details for 900 Otis Ave

Year built

2023

Property type

Residential income homes

Description

This exceptional investment opportunity presents a brand-new, Class A, four-unit multifamily property in the desirable town of Ennis, Montana. Completed in 2023, this three-story building is part of a larger six-building development situated on approximately 3.21 acres. The property boasts convenient access to Ennis' downtown area, Ennis Lake, and the Madison River. Each of the four units offers a luxurious living experience, presenting a compelling opportunity for both short-term and long-term rental income. The property is fully entitled, engineered, and architecturally designed, constructed by a reputable local general contractor with extensive experience in the Southwest Montana market. Projected net operating income ranges from 7% to 12% under managed or self-managed scenarios, with modeled five-year IRR returns of 13% to 19%. The asking price is $2,800,000, representing a price per unit of $700,000. This investment offers potential for significant equity multiple (1.25 to 2.0x) on total cash investment, along with opportunities for individual unit sales for periodic liquidity events. High occupancy rates (60%-70% year-round) are anticipated for short-term rentals, while long-term rental demand is also strong in this area. This property is ideal for investors seeking a passive or hands-on approach, or those interested in owning a unit for personal use.

Location Insight

City

Ennis

County

Madison

State

Montana

Longitude

-111.733

Latitude

45.3577