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$ 5,500,000
Est. payment /mo
New
130 W Kent AVE Missoula, MT 59801
16,934 SqFt
UPDATED:
Key Details
Property Type Commercial
Sub Type Building/Land
Listing Status Active
Purchase Type For Sale
Square Footage 16,934 sqft
Price per Sqft $324
MLS Listing ID 30076788
HOA Y/N No
Year Built 1968
Annual Tax Amount $62,010
Tax Year 2025
Lot Size 0.621 Acres
Acres 0.621
Property Sub-Type Building/Land
Property Description
Exceptional opportunity to acquire The Grove Apartments, a 30-unit multifamily property located at 130 W Kent Avenue in the heart of Missoula's highly desirable University District. Just minutes from the University of Montana, downtown Missoula, local dining, breweries, recreation, and an extensive network of walking and biking trails, this established property combines a sought-after location with meaningful value-add potential.
The Grove consists of two buildings, including the primary apartment building and an adjacent duplex, offering approximately 20,980 square feet of net rentable area on 0.62 acres. The unit mix includes 26 one-bedroom/one-bath units and four two-bedroom/one-bath units, with an average unit size of approximately 699 square feet. The property also features 30 parking spaces, providing a 1:1 parking ratio.
Originally constructed in 1968, the property has benefited from substantial recent investment. Current ownership has completed more than $175,000 in capital improvements, including a full roof replacement, new vinyl windows throughout the apartment building, updated flooring, and new paint. These improvements provide a strong foundation for a future owner to continue the existing renovation program and further enhance the property's income potential.
Residents enjoy an outdoor courtyard, on-site laundry, on-site maintenance, and convenient access to nearby walking and biking trails. Units feature fully equipped kitchens, breakfast bar seating, built-in storage, vinyl flooring, built-in vanity areas, and full-size showers and/or bathtubs.
With an established rental base, significant capital improvements already completed, and additional opportunity to continue renovations and move rents toward market levels, The Grove presents a compelling value-add multifamily investment in one of Missoula's most desirable rental locations. This property is being co-listed and co-marketed in collaboration with CBRE. Engel & Völkers is providing MLS listing services and participating in the marketing of the property in coordination with CBRE. Offering Memorandum and additional financial information are available to qualified buyers upon request and execution of any required confidentiality agreement. Contact listing broker for additional information. Buyers and their agents have an obligation to conduct due diligence and to verify to their satisfaction, the information contained herein regarding property. This information is provided by outside sources and deemed reliable but not guaranteed by Engel & Volkers.
The Grove consists of two buildings, including the primary apartment building and an adjacent duplex, offering approximately 20,980 square feet of net rentable area on 0.62 acres. The unit mix includes 26 one-bedroom/one-bath units and four two-bedroom/one-bath units, with an average unit size of approximately 699 square feet. The property also features 30 parking spaces, providing a 1:1 parking ratio.
Originally constructed in 1968, the property has benefited from substantial recent investment. Current ownership has completed more than $175,000 in capital improvements, including a full roof replacement, new vinyl windows throughout the apartment building, updated flooring, and new paint. These improvements provide a strong foundation for a future owner to continue the existing renovation program and further enhance the property's income potential.
Residents enjoy an outdoor courtyard, on-site laundry, on-site maintenance, and convenient access to nearby walking and biking trails. Units feature fully equipped kitchens, breakfast bar seating, built-in storage, vinyl flooring, built-in vanity areas, and full-size showers and/or bathtubs.
With an established rental base, significant capital improvements already completed, and additional opportunity to continue renovations and move rents toward market levels, The Grove presents a compelling value-add multifamily investment in one of Missoula's most desirable rental locations. This property is being co-listed and co-marketed in collaboration with CBRE. Engel & Völkers is providing MLS listing services and participating in the marketing of the property in coordination with CBRE. Offering Memorandum and additional financial information are available to qualified buyers upon request and execution of any required confidentiality agreement. Contact listing broker for additional information. Buyers and their agents have an obligation to conduct due diligence and to verify to their satisfaction, the information contained herein regarding property. This information is provided by outside sources and deemed reliable but not guaranteed by Engel & Volkers.
Location
State MT
County Missoula
Zoning B2-2 - RM1-45
Interior
Heating Baseboard, Ductless, Electric
Cooling Ductless, Wall Unit(s)
Fireplace No
Exterior
Water Access Desc Public
Total Parking Spaces 30
Building
Lot Description Level
Foundation Poured, Slab
Sewer Public Sewer
Water Public
Others
Tax ID 04220028423010000
Special Listing Condition Standard
Virtual Tour https://VirtualTourURLUnbranded
Listed by Engel & Völkers - Bozeman
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