0.15 Acres in Miles City, MT - $219,000

123 N 9th St, Miles City, MT 59301, US

5 unit apartment building with excellent rental history. Building has an occasional vacancy, several long term tenants. Owner has updated the boiler system, exterior painting, landscaping, concrete and yard. Good location close to downtown shopping, restaurant's, bars, banks, etc. Units are metered for electricity. Landlord pays first $50/mo in unit 2,3,4,5 monthly average is $20-37/ unit. Landlord pays for gas and electric for heat, average is $208/mo. Water and sewer is $101/mo, garbage $31/mo. Potential gross rent is $2175/mo for 5 units using current rates. Monthly expenses are around $874/mo, potential net is $1301/mo. This is a 7.13% CAP rate at the $219,000 asking price. All leases are month to month