1218 8Th AveGreat Falls, MT 59405

Property Details for 1218 8Th Ave

Year built

1952

Lot size

0.34 AC

Property size (Sq ft)

14,985 SF

Property type

Apartment buildings

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.

Location Insight

City

Great Falls

County

Cascade

State

Montana

Latitude

47.4964

Longitude

-111.286

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