1650 N Russell St - Apartments FOR SALE


Missoula, MT 59808- Downtown Missoula
$11,779,276 USD
406-239-1865
1650 N Russell St, Missoula, MT for Sale
$11,779,276 USD
Apartments - FOR SALE
1/13
null | 5.5% Cap Rate

1650 N Russell St
Missoula, MT 59808
Downtown Missoula


HIGHLIGHTS

  • 54 units with stable cash flow and multiple value add opportunities
  • 21 fully renovated, 3 lightly renovated and 9 classic turns - Room for additional value through renovation
  • A recent feasibility study by a reputable local architectural firm outlines an economically viable path to constructing an additional 30 units

OVERVIEW

ERA Lambros Commercial is pleased to present this 54-unit multifamily investment opportunity located in Missoula's vibrant and historic Westside neighborhood. Situated on a 2.97-acre parcel zoned M1R-2, the property allows for up to 129 total units, presenting significant infill and development potential. A recent feasibility study by a reputable local architectural firm outlines an economically viable path to constructing an additional 30 units. Originally built in 1997 and 1998, the garden-style complex has seen substantial capital improvements, including all new roofs, newer siding, and renovations across 33 units; 21 fully renovated, 3 lightly renovated and 9 classic turns. With additional renovation upside, the property offers both immediate income and long-term value-add potential. Ideally positioned near Downtown Missoula, North Reserve's retail corridor, and St. Patrick Hospital, this property benefits from a central location within one of Montana's fastest-growing communities. In addition to an outright sale, seller is open to recapitalization proposals.

FOR SALE DETAILS

PRICE

$11,779,276 USD

PRICE/SF

$81 USD /SF

# OF UNITS

54

PRICE/UNIT

$218,135

CAP RATE

5.5%

% LEASED

96%

STATUS

Under Renovation

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

North Russell Apartments

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Garden

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1997

PARKING SPACES

-

LAND DETAILS

LAND ACRES

2.98 AC

LAND SF

129,809 SF

ZONING

M1R-2

APN/PARCEL ID

04-2200-16-2-06-01-0000

ASK ABOUT THIS PROPERTY

Adam HertzERA LambrosMore Info
406-239-1865

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Adam HertzERA LambrosMore Info
406-239-1865

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.