Beaverhead Villa

400 North Idaho Street, Dillon, MT 59725
Status: Closed
Year Built: 1981
Price: $3,000,000
Price Per Unit: $71,429
Price Per SF: $83.26
# of Units: 42
# of Buildings: 2
# of Stories: 2
Rentable SF: 36,030
Lot Size: 1.32 Acres
Density: 31.81 units/ Acre

Quick Stats:

  • Conveniently Located Close to Parks, Schools, and Shopping
  • New 20 Year HAP Contract Thru 12/31/2037
  • Annual OCAF Adjustments With No RCS Requirement
  • Recent REAC Score of 92b on 11/5/2015

Description:

Beaverhead Villa Apartments is a 42-unit affordable housing community located in Dillon, MT.  Within blocks of the property you will find parks, shopping, restaurants, public transportation, and schools.

Beaverhead Villa Apartments was built in 1981 and is a recipient of HUD Section 8 project-based rental income assistance pursuant to a Housing Assistance Payment (HAP) contract. The current contract has an effective beginning date of January 1, 2017 and provides assistance for all units. Within the contract, Section 2(a) states that the contract runs for an effective term of 20 years. The property has a received a recent REAC score of 92b on 11/5/2015.

The HAP contract rents are exception rents and are above market.  Rents are subject to annual OCAF adjustments and there is no requirement for a rent comparability study (RCS) through the term of the contract.  Additionally, the current owner is working with HUD on a preservation exhibit that would approximately 4 years to the contract.

Beaverhead Villa offers two and three bedroom apartment homes featuring full appliance package with electric range, tub/shower combos, and ceiling fans (upstairs only). Community amenities include ample storage, on-site laundry facility, playground, basketball court, picnic area, on-site maintenance, and professional management.

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