Historic 38-Unit Apartment Complex in Livingston Needs New Owner
If you had the money to purchase a unique, historic building, would you do it?
It's no secret that the housing problems in Gallatin Valley are a constant concern among locals. Whether you're trying to buy a house or rent an apartment, we all deal with the fallbacks of expensive and limited housing. Some locations don't have access to decent internet, others don't allow animals, some have serious damage from previous renters...it's a minefield of problems.
With such a chaotic housing market, it's hard to find any good opportunities, but we might just have one for you. You now have an opportunity to buy an apartment complex near Bozeman, and it's affordable. And no, I am not joking.
The Ebert Apartment building in Livingston is for sale. This four-story, 38-unit building is a block and a half away from the History Murray Hotel in downtown Livingston, and could be a great business opportunity. It's a classic brick structure built in 1919, and boasts some great architecture.
The building is going for $2.5 million, which is actually a decent deal for a 38-apartment structure in downtown Livingston. The benefit of this business opportunity comes from the rate of monthly income you could be bringing in from these 38 apartments.
Looking at Realtor.com, the estimated monthly payment on the building would be a little above $15,000. If you charged each apartment $700 a month, you would net over $26,000. That way, you could pay your monthly mortgage and pocket the rest.
That doesn't seem like a bad deal; you could own a historic building in a gorgeous location, offer a reasonable price for apartments (even lower than $700, if you wanted), and still make some income.
Then again, you would need to get some serious cash for the down payment. But you never know--it might be worth it.
For more details on The Ebert Apartments, check out Realtor.com.