312 East Broadway Road
- 14-unit multifamily investment property in Philipsburg, Montana
- All units are separately metered for electricity which tenants pay themselves. Heating is electric baseboard units.
- Unit mix includes twelve 1-bedroom/1-bath units and two 2-bedroom/1-bath units
- Low-density, garden-style apartment setting
- Maintained grounds with mature trees, lawn areas, and concrete walkways
- Originally developed as income-restricted affordable housing
- Opportunity to improve performance through expense management and rent repositioning
- Strong fit for workforce housing, smaller households, retirees, and local renters
- Quiet residential setting with convenient access to downtown Philipsburg
- Near local services, shops, restaurants, and community amenities
- Close to Discovery Ski Area, Georgetown Lake, Flint Creek, and surrounding public lands
- Rare opportunity to acquire a multifamily asset of scale in a small Montana market
Property Description
Pioneer Apartments presents a rare opportunity to acquire a 16-unit multifamily investment property situated on approximately 4.8 acres in the historic mountain community of Philipsburg, Montana. The property consists of fourteen 1-bedroom, 1-bath units and two 2-bedroom, 1-bath units in a well-maintained campus-style setting featuring mature trees, expansive green space, and ample off-street parking. Originally developed and operated as an affordable housing project, Pioneer Apartments is no longer subject to income or rent restrictions, creating a compelling value-add opportunity for investors. Current rental rates remain below market levels, providing future ownership with the ability to gradually reposition the property toward market-rate rents while benefiting from strong demand for workforce and affordable housing alternatives in the region. The property offers an attractive combination of stable occupancy, durable improvements, and significant upside potential. In addition to rental growth opportunities, investors may be able to improve overall property performance through operational efficiencies and expense management, as historical operating expenses reflect the property's prior affordable housing structure and may not represent a fully optimized market-rate operation. The improvements feature durable construction, attractive curb appeal, and a spacious site that provides tenants with a comfortable residential environment while remaining conveniently located near downtown Philipsburg, recreational amenities, and major area employers. The unit mix is well-positioned to serve a broad tenant base, including local workforce housing demand, retirees, and smaller households seeking quality rental housing in one of Montana's most desirable small-town communities. For investors seeking a multifamily asset with immediate cash flow, long-term appreciation potential, and a clear path to increased net operating income, Pioneer Apartments represents a unique acquisition opportunity. Financial information is available to qualified buyers upon execution of a confidentiality agreement.
Key Property Information
| Listing Status: | Unavailable |
|---|---|
| Listing Type: | Call for offers |
| Property Types: | Apartment Buildings |
| Price: | $999,000 |
| No. of Units: | 16 |
| Year Built: | 1978 |
| Opportunity Zone: | No |
| Price per unit: | $62,438 |
| Property Website | Click Here |
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