• Potter Park Apartments - 4915 Potter Park Loop, Missoula, MT 59808

For Sale

Multi-Family

For Sale

This property is available for sale
1.54
Acres
$4,600,000
Sale Price
  • Year Built
    2018
  • Total Building Size
    30,190 RSF
  • Overview

    Located on Potter Park Loop West of North Reserve St in Missoula, Montana, this 38 unit multi-family apartment asset is in the heart of a healthy, ongoing residential development area and within 1.0 mile of multiple retail commercial development areas. Sterling CRE is pleased to present to qualified investors the opportunity to purchase Potter Park Apartments. This 38 unit complex was built in 2018 by well-respected Missoula builder, Edgell Builders. The property achieved stabilization in approximately 6 months and currently operates at 95% occupancy. Potter Park Apartments offers an investor the opportunity to acquire a new apartment development located in a desirable Missoula neighborhood with stabilized in-place yield. Pro-forma internal rate of return on a 7 year hold indicates a likely yield above 15%. Potter Park Apartments is located directly in Missoula's path of growth and located within 1/2 mile of the Missoula Development Park. Dozens of employers, including a 300+ employee AT&T center, are within walking distance of the property. The Missoula Valley is poised for continued growth as the county experienced population increased by 2.2% between 2017 and 2018. The high quality of life, great schools and vibrancy of an artsy University town puts Missoula on a positive trajectory for the foreseeable future. Important to young families is the quality of the local schools and Potter Park does not disappoint in that regard. Located in the Hellgate School District, Potter Park Apartments is a quality new construction development that offers families moving to Missoula a quality environment and investors a stable, low-vacancy, long term investment. The unit mix consists of studio, one, and two bedroom floor plans that are spacious, well-designed, well-built and offer an average of approx 793+/- square feet. Unit interior features include fully appointed kitchens with electric appliances, full size washer/dryers, dishwashers, above-range microwaves, air conditioning, laminate floors, vertical blinds, private back patios and deck areas. The site has adequate parking and easy access to shopping, sports activities, Missoula International Airport, University of Montana and downtown Missoula via I-90. You're invited to contact Matt Mellott, CCIM or Claire Matten for additional information on this offering.

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Property Details

Located on Potter Park Loop West of North Reserve St in Missoula, Montana, this 38 unit multi-family apartment asset is in the heart of a healthy, ongoing residential development area and within 1.0 mile of multiple retail commercial development areas. Sterling CRE is pleased to present to qualified investors the opportunity to purchase Potter Park Apartments. This 38 unit complex was built in 2018 by well-respected Missoula builder, Edgell Builders. The property achieved stabilization in approximately 6 months and currently operates at 95% occupancy. Potter Park Apartments offers an investor the opportunity to acquire a new apartment development located in a desirable Missoula neighborhood with stabilized in-place yield. Pro-forma internal rate of return on a 7 year hold indicates a likely yield above 15%. Potter Park Apartments is located directly in Missoula's path of growth and located within 1/2 mile of the Missoula Development Park. Dozens of employers, including a 300+ employee AT&T center, are within walking distance of the property. The Missoula Valley is poised for continued growth as the county experienced population increased by 2.2% between 2017 and 2018. The high quality of life, great schools and vibrancy of an artsy University town puts Missoula on a positive trajectory for the foreseeable future. Important to young families is the quality of the local schools and Potter Park does not disappoint in that regard. Located in the Hellgate School District, Potter Park Apartments is a quality new construction development that offers families moving to Missoula a quality environment and investors a stable, low-vacancy, long term investment. The unit mix consists of studio, one, and two bedroom floor plans that are spacious, well-designed, well-built and offer an average of approx 793+/- square feet. Unit interior features include fully appointed kitchens with electric appliances, full size washer/dryers, dishwashers, above-range microwaves, air conditioning, laminate floors, vertical blinds, private back patios and deck areas. The site has adequate parking and easy access to shopping, sports activities, Missoula International Airport, University of Montana and downtown Missoula via I-90. You're invited to contact Matt Mellott, CCIM or Claire Matten for additional information on this offering.

  • Property Type
    Multi-Family
  • Year Built
    2018
  • Sale Price
    $4,600,000
  • Total Building Size
    30,190RSF
  • Total Acres
    1.54
  • Sale Status
    Available
  • Last updated
    Sep 17, 2019
  • Property ID
    2109567

Landlord's Sales Representative

  • Sterling CRE Advisors
    Sterling CRE Advisors
     
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