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$ 999,000
Est. payment /mo
New
312 E Broadway RD Philipsburg, MT 59858
3,277 SqFt
UPDATED:
Key Details
Property Type Apartment
Sub Type Apartment
Listing Status Active
Purchase Type For Sale
Square Footage 3,277 sqft
Price per Sqft $304
MLS Listing ID 30072193
HOA Y/N No
Year Built 1978
Annual Tax Amount $9,108
Tax Year 2025
Lot Size 4.800 Acres
Acres 4.8
Property Sub-Type Apartment
Property Description
Pioneer Apartments presents a rare opportunity to acquire a 16-unit multifamily investment property situated on approximately 4.8 acres in the historic mountain community of Philipsburg, Montana. The property consists of fourteen 1-bedroom, 1-bath units and two 2-bedroom, 1-bath units in a well-maintained campus-style setting featuring mature trees, expansive green space, and ample off-street parking.
Originally developed and operated as an affordable housing project, Pioneer Apartments is no longer subject to income or rent restrictions, creating a compelling value-add opportunity for investors. Current rental rates remain below market levels, providing future ownership with the ability to gradually reposition the property toward market-rate rents while benefiting from strong demand for workforce and affordable housing alternatives in the region. The property offers an attractive combination of stable occupancy, durable improvements, and significant upside potential. In addition to rental growth opportunities, investors may be able to improve overall property performance through operational efficiencies and expense management, as historical operating expenses reflect the property's prior affordable housing structure and may not represent a fully optimized market-rate operation.
The improvements feature durable construction, attractive curb appeal, and a spacious site that provides tenants with a comfortable residential environment while remaining conveniently located near downtown Philipsburg, recreational amenities, and major area employers. The unit mix is well-positioned to serve a broad tenant base, including local workforce housing demand, retirees, and smaller households seeking quality rental housing in one of Montana's most desirable small-town communities.
For investors seeking a multifamily asset with immediate cash flow, long-term appreciation potential, and a clear path to increased net operating income, Pioneer Apartments represents a unique acquisition opportunity. Financial information is available to qualified buyers upon execution of a confidentiality agreement.
Originally developed and operated as an affordable housing project, Pioneer Apartments is no longer subject to income or rent restrictions, creating a compelling value-add opportunity for investors. Current rental rates remain below market levels, providing future ownership with the ability to gradually reposition the property toward market-rate rents while benefiting from strong demand for workforce and affordable housing alternatives in the region. The property offers an attractive combination of stable occupancy, durable improvements, and significant upside potential. In addition to rental growth opportunities, investors may be able to improve overall property performance through operational efficiencies and expense management, as historical operating expenses reflect the property's prior affordable housing structure and may not represent a fully optimized market-rate operation.
The improvements feature durable construction, attractive curb appeal, and a spacious site that provides tenants with a comfortable residential environment while remaining conveniently located near downtown Philipsburg, recreational amenities, and major area employers. The unit mix is well-positioned to serve a broad tenant base, including local workforce housing demand, retirees, and smaller households seeking quality rental housing in one of Montana's most desirable small-town communities.
For investors seeking a multifamily asset with immediate cash flow, long-term appreciation potential, and a clear path to increased net operating income, Pioneer Apartments represents a unique acquisition opportunity. Financial information is available to qualified buyers upon execution of a confidentiality agreement.
Location
State MT
County Granite
Interior
Interior Features InteriorFeatures
Fireplace No
Exterior
Garage No
Building
Foundation See Remarks
New Construction No
Others
Senior Community No
Tax ID 46157325113400000
Acceptable Financing Cash, Conventional
Listing Terms Cash, Conventional
Special Listing Condition Standard
Listed by Eagen Real Estate
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175 Hutton Ranch Rd. Ste 103 PMB 113, Kalispell, MT, 59901, USA
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