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KJ Real Estate
201 9th Avenue NW, Sidney, MT 59270
- $3,200,000
- List Price
- $3,200,000
- MLS#
- 30062075
- Status
- ACTIVE
- Building Name
- Northview Apartments
- County
- Richland
- City
- Sidney
- Acres
- 0.92
- Property Subtype
- Building
Property Description
A turnkey 20- Unit value-add opportunity for commercial investors and 1031 prospects. This 20-unit garden-style apartment complex presents immediate cash flow with upside through strategic renovations and stabilized NOI growth, supported by a growing regional housing demand and nearby commercial development. Current Gross Potential Rent (GPR): 19 x $1,050 = $19,950 per month Unit 206: $1,350 per month Total Monthly Gross Rent: $21,300 Annual Gross Revenue (current): $21,300 x 12 = $255,600 NOI (current): 0.65 x $255,600 = $165,660 Cap Rate: 5.25% 2-Year RenovationPlan (Proforma) Renovation Plan: Renovate all 20 units to the standard of Unit 206 Renovated Rent (all units): $1,600 per unit/month Projected Gross Revenue: 20 x $1,600 = $32,000 Annual Gross Revenue: $32,000 x 12 = $384,000 NOI (future): 0.65 x $384,000 = $249,600 Cap Rate Assumption: 5.25% Implied value based on NOI: Value = NOI / Cap Rate = $249,600 / 0.0525 ˜ $4,760,000
Additional Information
- Days on Market
- 307
- Year Built
- 2013
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Listing courtesy of Listing Agent: Krista L Deacon | krista@silvercreekrealty.com from Listing Office: Silvercreek Realty Group, LLC.
IDX information provided courtesy of the Montana Regional MLS, LLC. IDX information is provided exclusively for consumers' personal, non-commercial use, and it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. The data is deemed reliable but is not guaranteed accurate by the MLS.