426 Colbalt DrKalispell, MT 59901

Property Details for 426 Colbalt Dr

Year built

2024

Lot size

0.91 AC

Property size (Sq ft)

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.

Location Insight

City

Kalispell

County

Flathead

State

Montana

Latitude

48.1678

Longitude

-114.309

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