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$1,495,000

Explore 71 Prairie Ln in Conrad, MT—a unique blend of residential comfort and commercial potential. Spanning over 15 acres with six separately deeded parcels, this property includes a 5,128 sqft home featuring 3 bedrooms, 2 bonus rooms, and 3.5 baths. A massive 9,600 sqft shop with Corbond Insulation and radiant floor heating situated on a commercial lot, 2 ponds, 7 water shares, and multiple buildable lots, it's ideal for expansive visions. The home has been meticulously maintained with spacious bedrooms and a functional layout, offering comfort against a backdrop of farmland. The two ponds and seven water shares make it ideal for enjoying the landscape. The standout shop provides a professional-grade facility with an extra bathroom and septic system. It's set up to handle big jobs and big plans, with enough room to pull in semi-trucks. Whether you’re looking to expand a business or start something new, this space is ready for operation, complete with a parking area right outside.

3 Beds ⋅ 4 Baths ⋅ 30073894 MLS

71 Prairie Park Lane, Conrad

$1,399,000

Missile Apartments presents a rare opportunity to acquire a 24-unit multifamily investment property in Conrad, Montana, consisting of three separate 8-plex buildings situated on a spacious and well-maintained site. The property offers an attractive unit mix of twenty-one 2-bedroom, 1-bathroom apartments and three 1-bedroom, 1-bathroom apartments, serving a broad tenant base and providing stable workforce housing in a market with limited rental inventory. Originally developed and operated as an affordable housing community, the property 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 continued demand for quality rental housing in the area. In addition to rental upside, investors may have the opportunity to improve overall property performance through operational efficiencies and expense management. Historical operating expenses reflect the property's prior affordable housing structure and may not represent a fully optimized market-rate operation. As a result, future ownership may be able to enhance net operating income through both revenue growth and expense reductions. The property features mature landscaping, attractive green spaces, ample off-street parking, and a well-maintained physical plant, providing residents with a desirable living environment while minimizing future capital expenditure concerns. The three-building configuration also offers operational flexibility and diversification within a single investment. Offered at a price substantially below its current tax-appraised value, Missile Apartments represents an exceptional opportunity to acquire a sizeable multifamily asset with existing cash flow, significant upside potential, and a clear path toward increased value through strategic management and market-rate repositioning. Opportunities of this scale are uncommon in North Central Montana, making this a compelling acquisition for investors seeking both stability and long-term appreciation potential. All units are separately metered for electricity which tenants pay themselves.

30072305 MLS ⋅ Missile Court Apartments BLDG.

1000 4th Avenue SW, Conrad