25 E GraniteButte, Montana MT59701

Listing ID365531


The Napton Apartments in Uptown Butte. Five floors with 60 total units, 53 apartments plus 7 boarding rooms in the basement. The apartments are on the upper four floors and are a mix of two bedrooms, one bedrooms and studios. Each floor is approximately 9,300 square feet for a total building size of approximately 46,500 square feet. Although about 15 apartments are currently rented, the Napton is in need of extensive renovations and it's promising future requires a large re-development project, most non-rented units are not in rentable condition. The Napton is in the URA District (Urban Revitalization Agency) which is designed to promote the redevelopment & stimulation of investment within Butte's uptown central uptown business district. URA grants & loans are probable. The property us also in an Qualified Opportunity Zone which may provide federal tax incentives for buyers that have capital gains from other capital assets. The property boasts many architectural features including a grand arched entryway topped by a wooden bracketed cornice and ornate iron rail to welcome visitors. The property has a rich history, because apartment buildings were a hallmark of big cities like New York and Chicago, construction of the Napton in 1906 contributed to Butte’s image as a booming metropolis. As expected, the Napton soon became home to members of Butte’s professional class from teachers and mining engineers to business owners and stenographers. The owner also owns the Mueller Apartments at 501 W. Granite Street which is also for sale.
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