5 Unit Apartment Complex for Sale

313 Sheridan Ave Plentywood, MT 59254

313 Sheridan Ave, Plentywood, MT, 59254
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FOR SALE
Property Type:
MultiFamily Apartments
Amount:
$199,000
Cap Rate:
0.00%
Last Verified:
Aug 23, 2023

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*313 Sheridan Ave, Plentywood, MT *5 Unit Apartment Complex for Sale *Price Reduced to $199,000 *3,592 SF Building *0.318 Acres of Land *Built 1948/Remodeled 2010 *5 Units Rented @ $500/mo *Tenants Pay Electric *Currently NOI = $17,906/yr *Current Cap Rate = 9% *Room to Raise Rents to $600/mo *Pro Forma NOI = $23,906/yr *Pro Forma Cap Rate = 12% Well maintained 5 plex in Plentywood, MT for sale. Currently 100% occupied with 3 units on the main floor and 2 in the basement. Includes onsite laundry that is a free service to the tenants, but could be converted to coin-op. Electrical and plumbing in 5 plex has been completely redone. New roof in 2009.

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What are Real Estate Incentives?

Real Estate incentives range widely and have been overlooked by the Commercial Multiple Listing Services (MLS) for decades. Real estate incentives is a generic term used to group any number of programs, such as tax incentives, that are designated by an agency for a geographic area."

Why are Real Estate Incentives Important and to Whom?

"Incentives" are vital today and in the future because:

  • U.S. Public: Many incentives focus on job creation and Affordable Housing
  • Investors and Commercial Developers use incentives to reduce financial risk, obtain gap financing, etc. Investors and developers look for property listings with incentives available.
  • Commercial Real Estate Brokers, in mass, unfortunately do not know about incentives tied to their listings
  • Entire Supply Chain of Real Estate Development such as small and large companies who will provide goods and services to new and revitalized properties.