115 S 8th St West, Billings, MT
Multi-family for Sale - $700,000 - 7,178 Sq. Ft. on 0.47 acres
Property Info
CIMLS# | 1050795 |
Location 115 S 8th St West Billings MT 59101 | |
Updated | November 18th, 2021 |
Type | Multi-family |
Price | $700,000 |
Building | 7,178 Sq. Ft. |
Land | 0.47 acres |
Property Description
Multifamily 4 Plex with Multi Tenant Shop Commercial Industrial Zoning FOR SALE - $700,000 @7.8% Cap 20,400 SF Lot 14 Parking Spaces
Industrial Building - 3200 SF 2 units at 1600 SF 250 SF Office with bathroom and Man door entrance to outside. Built 1976. New paint 2018, steel roof, newer vinyl windows. 12x12 Overhead door commercial grade opener. 3 Phase Swamp cooler and Gas Furnaces, Exhaust to exterior. Both units fully leased. Tenant pays gas and electric. Landlord pays water. Tenant does Snow removal. Address 111 - $1,075 Address 115 - $800, plus $300 Office to owner user. 4 PLEX
Unit 111 1/2 - 3 Bed/1 Bath - $900 mo - Tenant pays Gas/Elec. Unit 117 - 3 Bed/1 Bath - $1200 mo - Tenant pays Elec. Unit 117 1/2 - 2 Bed/ 1 Bath - $985 mo - Tenant pays Elec. Unit 119 - 3 Bed / 1 Bath - $980 - Tenant pays Elec. Landlord pays gas on 2 units Additional Income / Expenses
Gross Rents - $78,000 yr Expenses -$22,782 yr Net Income - $$55,218 yr Landlord Pays water, sewer, garbage. $300 mo expense Garage Leased to the Industrial Tenant ( $75mo) $75 month rent for two other garages. 10x10 Shed - $35 mo income Landlord manages and does limited snow removal. Add Value Improvements
Turn the 1600 SF shops into larger condos for 1200 month. Add another Storage Shed for ghost address of Unit 113 Add 1-4 small storage sheds and rent for $50 mo.