Property Listing No Longer Available for Sale

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
UpdatedNovember 18th, 2021
TypeMulti-family
Price$700,000
Building7,178 Sq. Ft.
Land0.47 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.


Financials



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