eXp Realty - Kalispell
Silvercreek Realty Group, LLC
Listed by eXp Realty - Kalispell, Silvercreek Realty Group, LLC
$3,200,000
Northview Apartments
Details
APN 27344429405060000
Property Type Mixed Use, Land
Sub Type Residential, Commercial Building
Square Footage 16,450
Year Built 2013
Acreage 0.918
Mixed Use | 16,450 SqFt
Marketing 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
Listing Contacts
eXp Realty - Kalispell
Silvercreek Realty Group, LLC
Listed by eXp Realty - Kalispell, Silvercreek Realty Group, LLC
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