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Glendive Montana Apartment Complex Near Downtown. This complex, in the midst of the Bakken Oil Field activity, offers an immaculate, income producing property with the prospects of consistent occupancy, given the oil fields bustle.
With six one bedroom full apartments and 7 dorm room units (an 8th unfinished apartment), the cash flow potential is healthy. The one bedroom units are partially furnished and are comprised of a kitchen-living room-bedroom-bath. Rent on these units range from $1125-$1200 per month. The dorm units offer a bedroom furnished with mattress, dresser, night stand and common access to a living area, kitchen, dining area, three shower stalls, and three lavatories. The community kitchen features two stoves, two sinks, refrigerator, microwave and several dining tables. The living area offers a television, couch and chairs. Current rents on the dorm units range from $725 to $800 per month. Provided utilities include wireless internet and cablevision.
The building is approximately 7500 sq ft including upper and lower levels and sits on a 7500 sq ft lot that grants ample off street parking.
Within walking distance to downtown Glendive, amenities such as dining and more are with in easy reach. And nearby historic Bell Street Bridge crossing the Yellowstone River, sits just out back of the property.
It enjoys an 80% occupancy and has had a 14% cap rate and can hit 18% with 100% occupancy. With Bakkens continued prospects and local housing shortage, this complex should continue to be a bountiful investment. Owner will consider contract for deed options with down and terms.
Dawson County Montana has a lively economy with many ancillary benefits.. this investment property is no exception. Confidential financial reports are available for review.
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