130 W Kent Avenue
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.
Key Property Information
| Listing Status: | Available |
|---|---|
| Listing Type: | Call for offers |
| Property Types: | Apartment Buildings |
| Price: | $5,500,000 |
| Year Built: | 1968 |
| Opportunity Zone: | No |
| Number of Bedrooms: | 0 |
| Number of Bathrooms: | 0 |
ID: 3yd-EV-30076790
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