- For Lease Contact for pricing
- Property Type Other
- Property Size 67,953.6 SF
- Date Updated Jan 18, 2025
Property Overview:
- Located at 128 E Evergreen Dr, Kalispell, Montana
- Three newly constructed buildings (2023) with 45 total units
- Mix of Studio (20%), 1BR/1BA (60%), and 2BR/2BA (20%) units
- Monthly rents range from $1,250 to $1,780
Key Features:
- Mountain-modern design with high-end finishes
- Units include stainless steel appliances, washer/dryers, island kitchens (in 1BR/2BR), walk-in closets, private patios/decks
- Central location with excellent walkability
- Near Glacier National Park, Big Mountain skiing, lakes, and outdoor recreation
Market Highlights:
- Kalispell/Flathead County is Montana's fastest-growing region
- Severe housing shortage with 3,161 unit deficit as of 2022
- Market needs 1,500 new units annually for next 10 years
- Current market vacancy rates 5-8%, with many properties fully occupied
- Strong economic and population growth (14.8% population growth census to census)
Investment Metrics:
- 5-year hold period projected
- IRR: 18.6%
- ROI: 121.85%
- CAGR: 17.28%
- Average Cash on Cash Return: 6.6%
- Conservative 6% cap rate.
Business Strategy:
- Self-managed property with existing on-site manager
- Potential addition of short-term rentals. 3 Units Currently Operational.
- Focus on marketing to broader rental pool
- Expected 3-5% reduction in expenses through operational efficiencies
- Conservative underwriting assumptions used
Attractive investment opportunity in a mountain destination market.
Reach out to the broker for more info on lease terms and amenities
False
Location
Getting Around
-
Walk Score ®
21/100
Car-Dependent
-
Bike Score ®
33/100
Somewhat Bikeable
- City Kalispell, MT
- Neighborhood Evergreen
- Zip Code 59901
Points of Interest
-
Conoco
0.38 miles
-
Exxon
0.41 miles
-
76
0.54 miles
-
Woodland Qwik Stop
1.30 miles
-
Cenex
1.43 miles
-
Smith's Fuel Center
1.65 miles
-
Skip's Tire & Auto Care
1.76 miles
-
Kalispell Center Mall Car Charger
2.03 miles
-
Tesla Supercharger
3.23 miles
-
Super 1 Foods Parking
1.84 miles
-
Brannigan's Irish Pub Parking
1.87 miles
-
Mountain View Plaza Lot 2
3.05 miles
-
Mountain View Plaza Lot 3
3.09 miles
-
Mountain View Plaza Lot 4
3.11 miles
-
Mountain View Plaza Lot 5
3.13 miles
-
Mountain View Plaza Lot 1
3.14 miles
-
Mountain View Plaza Lot 6
3.17 miles
-
Mountain View Plaza Lot 7
3.19 miles
-
Mountain View Plaza Lot 8
3.21 miles
-
Best Western Plus
0.85 miles
-
Friendship Inn
1.05 miles
-
Greenwood Village Inn and Suites
1.28 miles
-
Kalispell Hilltop Inn
1.38 miles
-
Blue and White Motel
1.52 miles
-
Travelodge Kalispell
1.97 miles
-
Glacier Ridge Suites
2.00 miles
-
Kalispell Grand Hotel
2.01 miles
-
Red Lion Hotel Kalispell
2.03 miles
-
Super 8 by Wyndham Kalispell Glacier National Park
2.26 miles
-
Subway
0.31 miles
-
Burger King
0.34 miles
-
Nickel Charlie's
0.43 miles
-
McDonald's
0.51 miles
-
Cislo's Family Restaurant
0.57 miles
-
Agave Cantina
0.60 miles
-
Big Buck's Sports Bar and Grill
0.64 miles
-
Whitefish Handcrafted Spirits
0.76 miles
-
Pho Ly Asian Cuisine
0.79 miles
-
Little Caesars
0.80 miles
-
Evergreen Junior High School
1.04 miles
-
Kalispell Montessori Schools
1.38 miles
-
East Evergreen School
1.42 miles
-
Head Start Center
1.43 miles
-
Woodland Montessori School
1.44 miles
-
Linderman Education Center
1.82 miles
-
Cornelius Hedges Elementary School
1.84 miles
-
Edgerton Elementary School
2.10 miles
-
Russell Elementary School
2.13 miles
-
St. Matthew's Catholic School
2.13 miles
-
Kid Kare
2.32 miles
-
Firefly Children's Center
2.65 miles
-
Creative Wonders Preschool
2.68 miles
Looking for more in-depth information on this property? Find property characteristics, ownership, tenant details, local market insights and more. Unlock data on CommercialEdge.