1218 8Th Ave Great Falls, MT 59405
- Commercial real estate
- 14,985 SF
- 0.34 lot acres
Current Use by Public Records
- Commercial real estate
Property Details for 1218 8Th Ave
- Year built
- 1952
- Lot size
- 0.34 lot acres
- Property size
- 14,985 SF
- Property type
- Commercial real estate
Description
Exceptional investment opportunity in Great Falls, Montana! This 12-unit apartment building, known as Hillcreast, offers a compelling return on investment with a current cap rate of 8.22%. The property boasts 14,985 square feet across three one-story buildings situated on a 0.344-acre lot at 1218 8th Ave S, 59405. Built in 1952, the property includes a mix of one- and two-bedroom units, with nine units recently renovated and three offering value-add potential through further renovations and rent increases. Currently operating at 90% occupancy, the property generates a net operating income (NOI) of $100,751. Amenities include a coin-operated laundry facility, two additional storage rooms (with potential for future apartment expansion), and five off-street parking spaces. Individual unit electric and gas meters are in place. Recent improvements include new electrical service and panels, cement work and grading, paint, kitchen cabinets, flooring, lighting, custom tile in bathrooms, vanities, appliances, and HVAC systems. This turnkey property is priced at $1,195,000, representing a price per unit under $100,000. The property is offered as a 1031 exchange opportunity.
Value Estimation
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CAP approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Great Falls
- County
- Cascade
- State
- Montana
- Longitude
- -111.28579974251
- Latitude
- 47.496428114573
