Damian Forrester

Broker Associate | License ID: 15170

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$ 2,750,000

Est. payment -/mo

Sold on 07/02/2026

305 46th ST N Great Falls, MT 59405

16,785 SqFt

UPDATED:

Key Details

Property Type Apartment

Sub Type Apartment

Listing Status Sold

Purchase Type For Sale

Square Footage 16,785 sqft

Price per Sqft $151

MLS Listing ID 30063908

Sold Date 07/02/26

Style Other

HOA Y/N No

Year Built 1998

Annual Tax Amount $27,663

Tax Year 2025

Lot Size 0.860 Acres

Acres 0.86

Property Sub-Type Apartment

Property Description

Excellent investment opportunity located just minutes from Malmstrom Air Force Base, offering strong in-place income with additional upside potential. This 21-unit multifamily property features a diverse unit mix consisting of twelve 2-bedroom units, six 1-bedroom units, one 3-bedroom unit, two studio units, plus an owner-rented garage space, creating multiple income streams within a single asset. The property currently generates approximately $22,095 per month in gross rental income and benefits from consistent tenant demand. Units include individual air conditioning and individual gas forced air, updated flooring in several apartments, and practical layouts appealing to long-term tenants. Tenants pay their own electric and gas utilities, helping control operating expenses, while ownership covers water service and common area utilities. Additional revenue is produced through four coin-operated laundry machines in the common area and an owner-rented garage space. Three garage spaces are located on site, with one currently being converted into a new 2-bedroom, 1-bath unit, providing immediate value-add potential upon completion. This property presents a compelling opportunity for investors seeking stable cash flow with room to increase rents through continued interior updates, operational improvements, and completion of ongoing unit conversion. With solid existing income and a highly desirable rental location near Malmstrom AFB, this asset offers both dependable performance and long-term appreciation potential in the growing Great Falls rental market.

Location

State MT

County Cascade

Community Sidewalks

Rooms

Basement None

Interior

Interior Features InteriorFeatures

Heating Forced Air, Gas, Hot Water

Cooling Central Air

Fireplace No

Appliance Dishwasher, Range, Refrigerator

Laundry Common Area, Washer Hookup, See Remarks

Exterior

Parking Features On Street

Garage Spaces 2.0

Community Features Sidewalks

Water Access Desc Public

Roof Type Composition

Garage Yes

Building

Entry Level Two

Foundation Poured

Sewer Public Sewer

Water Public

Architectural Style Other

Level or Stories Two

New Construction No

Others

Pets Allowed Cats OK, Dogs OK

Senior Community No

Tax ID 02301609104010000

Security Features Carbon Monoxide Detector(s),Fire Alarm,Fire Sprinkler System,Smoke Detector(s)

Acceptable Financing Cash, Other

Listing Terms Cash, Other

Financing Cash,1031 Exchange

Special Listing Condition Standard

Pets Allowed Cats OK, Dogs OK

Listed by Dustin Young and Company
Bought with Legacy Realty of Montana

Damian Forrester

Broker Associate | License ID: 15170

+1(406) 697-3282

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305 46th ST N Great Falls, MT 59405

Key Details

Location

Rooms

Interior

Exterior

Building

Others

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305 46th ST N