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$7,799,000
225 Days Online

TBD Shorthorn Avenue
Helena, MT 59602

For Sale|Condo|Active
0
Beds
0
Full Baths
0
Partial Baths

SqFt

/SqFt

Built
Subdivision:
Burnham Ranch Subdivision
County:
Lewis And Clark

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TBD Shorthorn AvenueTBD Shorthorn AvenueTBD Shorthorn AvenueTBD Shorthorn Avenue
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Exceptional Condominium Development Opportunity in Helena, Montana (59601) Discover an outstanding investment opportunity with this 75-unit residential condominium development situated in the heart of Helena, Montana (59601). Each meticulously designed unit in this attractive triplex layout offers comfort and style, making it an ideal choice for discerning tenants. This property is perfectly located near essential shopping centers, convenient interstate access, and a variety of recreational opportunities, ensuring a balanced lifestyle for residents. There are currently 12 units built, and the project is fully entitled for 63 more. Each of the 75 units features a thoughtful design with 2 bedrooms, ensuring ample space and privacy. The convenience of in-unit laundry hookups adds to the ease of living. 75 Unit Condo Association in Burnham Ranch Subdivision. 12 of the condo units are currently built and can act as a cash flow while remaining units are being completed. Full entitlements with the remaining 63 to be built condominiums, new condition and recently being brought to the market for rents. This property and the newly leased project will be a 6% cap or better after stabilization at proforma rents and costs. This could benefit from a builder/developer or large investor that may want to continue the project but vertically integrate the process and manage the construction and build to a more profitable quality building. 6% CAP Rate when fully stabilized Local Professional Property management Fully entitled 63 units to complete, ongoing construction 6 units completed 6 units near completion Fully entitled to complete 63 more units Current cost is $210/sf Marshall and Swift support a 12% decrease in costs, while still supporting a similar perceived quality for the market Land cost per unit is under $60, 000/unit Special Highlights: The center unit of each triplex boasts an additional half bath, totaling 2 and 1/2 baths, catering to the needs of a modern lifestyle. The primary bedroom in each unit includes an en-suite bathroom, offering an extra touch of luxury and comfort. Investment Potential: With a competitive 6% cap rate, this development presents a lucrative opportunity for investors seeking a steady income stream in a growing market. Investment Highlights: Steady Income Potential: The strategic location and quality of the units are designed to attract a stable tenant base, ensuring a consistent rental income. Growth Potential: Helena's expanding market and the development's proximity to key amenities make it a sought-after location for potential renters. Conclusion: This residential condominium development is not just a property investment; it's a gateway to becoming a part of Helena's vibrant community. With its prime location, thoughtful design, and strong investment potential, it represents a unique opportunity in Montana's real estate market.

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Listing Snapshot
Price 
$7,799,000
Days Online 
225 Days
Bedrooms 
N/A
Inside Area (SqFt) 
N/A
Total Baths 
N/A
Full Baths 
N/A
Partial Baths 
N/A
Lot Size 
5.731 Acres
Year Built 
N/A
MLS® Number 
30016377
Status 
Active
Property Tax 
$23,901
HOA/Condo/Coop Fees 
N/A
Sq Ft Source 
N/A
Friends & Family
Recent Activity
a week agoListing updated with changes from the MLS®
7 months agoListing first seen online
General Features
Construction 
Cement Siding
Parking 
On Street
Sewer 
Public Sewer
Basement 
None
Acreage 
5.731
Water 
Public
Zoning 
Business
Security 
Carbon Monoxide Detector(s)Fire Alarm
Property Sub Type 
Condominium
Utilities 
Cable AvailableElectricity ConnectedNatural Gas Connected
Listing Conditions 
Standard
Interior Features
Cooling 
Central Air
Heating 
Forced Air
Flooring 
Laminate
Interior 
Builtin Features
Window Features 
Insulated Windows
Fireplace 
No
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Exterior Features
Roof 
Asphalt
View 
MountainsValley
Fencing 
None
Waterfront Property 
No
Lot 
Level
Road Frontage 
City Street
Community Features
Security Features 
Carbon Monoxide Detector(s)Fire Alarm
Listing courtesy of Coldwell Banker Commercial Green & Green



Listing information is provided by Participants of the Montana Regional MLS. IDX information is provided exclusively for personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but not guaranteed. Copyright 2024, Montana Regional MLS.
Data last updated at: 2024-07-13 04:55 AM UTC

Neighborhood & Commute
Source: Walkscore
Community information and market data Powered by ATTOM Data Solutions. Copyright ©2019 ATTOM Data Solutions. Information is deemed reliable but not guaranteed.
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