Affordable Investment Property with Monthly Rental Income

Description

Affordable Investment Property Creating Future Passive Income

Are you looking to start or add to your investment portfolio to create future passive income? This 3-Plex, located on a corner lot in Malta, Montana is an affordable option to consider. Fully rented and bringing in $1175/month, this property has very low vacancy rates and tenants who have been in place for 2+ years.

Shop And Parking, May Be Retained For Use By Owner for Boat/RV Storage

The south 1/2 of the city lot has been paved for off street tenant parking and is currently utilized by the current owner for storage, along with the 18′ x 36′ tin sided shop with concrete floor. The shop had heat and electricity at one time, but new meters would need to be installed for both to function now. A future owner could utilize the space as the current owner has, for his own work shop and boat storage!

Updated Furnace, Hot Water Heater and Laminate Flooring

Three separate gas meters and 3 separate electric meters allow the tenants to each pay their own utilities, however the water bill is covered by the owner at a rate of approximately $186/month. The 2 main floor units are heated by separate forced air furnaces, one installed as recently as 2021. The basement apartment is heated with an electric wall heater. Both upstairs units are cooled with window A/C units. Additional updates include a new hot water heater in 2023 and laminate flooring throughout both main floor apartments. All 3 units are rented and in livable condition currently, but a new owner may wish to consider new windows and roof in the future. Property Taxes for the 2024 year were $1473.41.