Victorian Five-Plex in Central
105 Yellowstone Avenue Billings, MT 59101
105 Yellowstone Avenue, Billings, MT, 59101
$495,000
For Sale
$495,000
MULTI_FAMILY - Billings, MT
Property Size5,310 SF
Lot Size0.32 Acres
Price / SF$93.22
Days on Market34
Property Features for 105 Yellowstone Avenue
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Bedrooms
- 2
- Rooms
- Bathroom 1, Bedroom 2, Bedroom 1
- Parking
- 12
- Standard status
- Active
- APN
- A17863
- Size
- 5,310 SF
- Lot size
- 0.32 Acres
Taxes and HOA fees
- Tax Description
- WEST SIDE ADD, S04, T01 S, R26 E, BLOCK 12, Lot 1 - 4
- Tax Annual Amount
- 3129
Utilities
- Sewer type
- Public Sewer
- Heating system
- Natural Gas, Forced Air
- Water source
- Public
Building Details
- Year built
- 1910
- Floors in Building
- 2
- Number of units
- 1
- Building materials
- VinylSiding
- Roof type
- Asphalt, Shingle
Listing Agency
Meridian Real Estate LLC
(406) 671-6955
2116 Broadwater Ave., Ste. 205, Billings, MT
Listed by
Lauraleah Griffin · License #RRE-BRO-LIC-98920
(406) 208-4003
Added: Jun 15 Checked: Jul 18 at 4:06 am
MLS# 357090
Listing URL
Copyright © 2026 Billings Association of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This centrally located, Victorian-style five-plex, constructed in 1910, presents a unique investment opportunity. The property features five spacious units, each with two bedrooms and one bathroom. The units are currently or were previously rented for $850 per month, while the basement unit was rented at $550 per month. Additionally, the property includes seven individual garage units, each renting for $95 per month, offering further income potential. Situated on a 0.3214-acre lot, the 5,310 square foot multi-family configuration has the potential to be converted back into a single-family dwelling. The property is part of an estate and is being sold "AS-IS".
Key Highlights
- 5‑plex built in 1910 with a Victorian‑style design and 5 units
- Each unit is 2‑bedroom, 1‑bath (Bedroom 1, Bedroom 2, Bathroom 1 as listed)
- Unit rental history includes $850/month per unit, with the basement unit rented at $550/month
Local Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $86.0k | $16.20 |
| − Vacancy | −$4.3k | −$0.81 |
| EGI | $81.7k | $15.39 |
| − OpEx | −$36.8k | −$6.93 |
| NOI | $44.9k | $8.46 |
5,310 SF · lease $16.20/SF/yr · vacancy 5.00% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$642.1K
$561.8K – $749.1K
NOI $44,946 @ 7.0% cap · market cap 9.08%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.16M
$1.01M – $1.35M
NOI $81,103 @ 7.0% cap · market cap 16.38%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Apartment buildings
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FAQs
What type of property is this?
Apartment building - Unique investment opportunity: five units, garages, potential single-family conversion.
Where is this apartment building located?
The property is located at 105 Yellowstone Avenue Billings, MT.
What is the asking price?
The asking price for this property is $495,000.
What are key features of this property?
This property features: 5‑plex built in 1910 with a Victorian‑style design and 5 units; Each unit is 2‑bedroom, 1‑bath (Bedroom 1, Bedroom 2, Bathroom 1 as listed); Unit rental history includes $850/month per unit, with the basement unit rented at $550/month
