Multi-family Income Producing Apartment Complex for Sale

Description

APARTMENT COMPLEX FOR SALE IN MALTA MONTANA

Are you looking for an income producing multi unit apartment complex that is fully rented in Malta, MT? This 5-unit apartment complex is located in the heart of Malta, a charming small town in Phillips County, Montana. Each of the 5 units measure approximately 768+/- square feet on the main floor, with 1 bedroom and 1 full bath. All the units have full basements, adding another 768+/- square feet, for a total of 1536+/- square feet per unit. Situated on Highway 191 and just off Highway 2, the complex is easily accessible and conveniently located within walking distance of the grocery store, post office, banks and downtown businesses. 

FULLY RENTED MULTI UNIT APARTMENT COMPLEX FOR SALE IN PHILLIPS COUNTY MT 

Originally constructed in 1934, over $100,000 has been invested in improvements to the property over the last 2 years. Recent updates include a new metal roof, laminate flooring, carpet, sheetrock and paint, and the exterior is currently being updated with new siding and paint.  This apartment complex offers its own separate entrance for each unit. All five units are currently rented and generate steady monthly income. The complex is well-maintained and with its' various recent updates it is an attractive investment opportunity for passive income with minimal owner involvement.

3 of the units have finished basements with additional “bonus” rooms and ¾ baths.  Each unit has its own laundry hook-ups and off-street parking is provided for tenants at the rear of the 111’ x 140’ corner city lot. 

Utilities:

All units are separately metered for electricity, and tenants are responsible for their own utility bills including heat (each unit has its own natural gas forced air furnace). The owner pays for water, sewer, and garbage services.

Parking:

There is ample off-street parking available for tenants, with designated parking spaces for each unit.

Investment Potential:

This apartment complex is an excellent investment opportunity, with a stable rental income and a high demand for rental properties in the area. Monthly rental income currently totals just over $3000/month. 2022 Property Taxes are $4021.93. The current owner has a solid history of maintaining and improving the property, making it an attractive and hassle-free investment for the next owner. Current owners reside outside of the area and have secured the services a local property manager who is available to continue managing for the new owner if needed.

This fully rented 5-unit apartment complex in Malta, Montana, is a great investment opportunity for anyone looking for a stable rental income in a charming small town setting. With its excellent location, attractive unit features, and well-maintained condition, this property is sure to generate steady income for years to come.

For more information contact Carly Bishop with United Country Northwest Realty & Auction in Malta Montana at 406-390-6746 or email Carly@northwestrealtymt.com