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$ 999,000
Est. payment /mo
New
312 E Broadway RD Philipsburg, MT 59858
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Multi Family
Listing Status Active
Purchase Type For Sale
MLS Listing ID 412107
Year Built 1978
Annual Tax Amount $9,108
Property Sub-Type Multi Family
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.
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
Area Other Counties/State
Direction E Broadway Rd, Philipsburg
Interior
Heating Baseboard, Electric
Cooling None
Fireplace No
Exterior
Utilities Available Electricity Connected
Building
Entry Level One
Level or Stories One
Others
Tax ID 0004150573
Acceptable Financing Cash, 3rd Party Financing
Listing Terms Cash, 3rd Party Financing
Special Listing Condition None
Listed by Eagen Real Estate
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