Stabilized 16-Unit Apartment
For Sale
$3,167,350
1447 Flathead St, Billings, MT 59105
Fully occupied 16-unit multifamily property featuring all 1-bedroom units with tenant-paid electric utilities.
Property Size13,324 SF
Price / SF$237.72
Days on Market96
Property Features for 1447 Flathead St
General Information
Standard status
Active
Size
13,324 SF
Property subtype
Multi-Family
Occupancy
100%
Additional Details
Cap Rate
6.25%
Multifamily Units
16
Building Details
Building Size
13,324 SF
Year Built
1983
Tenancy
Multi
Listing Agency:
Coldwell Banker Commercial CBS
Listed By:
Nathan Matelich
(406) 656-2001
Source:
Commercialcafe
Added: Jul 13
Changed: Oct 15
Last Checked: Oct 16 at 6:15AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Coldwell Banker Commercial CBS
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Investment Insights
Based on property information with market context.
Two matching apartment buildings containing a total of 16 units are offered fully occupied and stabilized. The property’s unit mix is uniform: all apartments are one-bedroom and one-bath, each sized at 529 square feet. Each unit also includes a private detached garage sized at 275 square feet, with one garage per unit. Laundry is available on-site through two detached wash or utility rooms.
The offering is located at 1439 & 1447 Flathead St in Billings, Montana. The buildings total approximately 13,324 square feet.
From a financial perspective, the remarks state a current 4.45% cap rate with NOI of $140,954 based on current rents, along with stated pro forma metrics reflecting potential higher rents.
The offering is located at 1439 & 1447 Flathead St in Billings, Montana. The buildings total approximately 13,324 square feet.
From a financial perspective, the remarks state a current 4.45% cap rate with NOI of $140,954 based on current rents, along with stated pro forma metrics reflecting potential higher rents.
Key Highlights
- Stabilized, fully occupied 16‑unit multifamily property in two matching buildings (1439 & 1447 Flathead St, Billings, MT 59105)
- All units are 1 bed / 1 bath with 16 apartments at 529 SF each; total building area is approx. 13,324 SF
- Tenant‑paid all‑electric utilities
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$112,781
Cap Rate
3.56%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,255,620
$2.3M
Cap Rate 7%
$1,611,157
$1.6M
Cap Rate 9%
$1,253,122
$1.3M
Market Conditions
NOI Build-Up for 13,324 SF
Gross rent
$215.8K $16.20/SF
− Vacancy
−$10.8K −$0.81/SF
EGI
$205.1K $15.39/SF
− OpEx
−$92.3K −$6.93/SF
NOI
$112.8K $8.46/SF
Area
Billings, MT
Vacancy
5.00%
Lease Rate
$16.20 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,255,620
Cap Rate 7%
$1,611,157
Cap Rate 9%
$1,253,122
Alternative Uses
Best Use
Apartment 5plus
$1.61M
$1.41M – $1.88M
NOI $112,781 @ 7.0% cap · market cap 3.56%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.91M
$2.54M – $3.39M
NOI $203,505 @ 7.0% cap · market cap 6.43%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
16
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
513
Businesses Nearby
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Business Placement
Demographics for 59105, MT
33,310
Population
14,198
Households
2.3
Avg Household Size
37
Median Age
30%
College-Educated
96%
High-School Grad
95.9 sq mi
ZIP Area
347
Density / Sq Mi
$74,572
Median Household Income
$44,359
Median Earnings
$1,261
Median Rent
$314,900
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Apartment building - Fully occupied 16-unit multifamily property featuring all 1-bedroom units with tenant-paid electric utilities.
Where is this apartment building located?
The property is located at 1447 Flathead St Billings, MT.
What is the asking price?
The asking price for this property is $3,167,350.
What are key features of this property?
This property features: Stabilized, fully occupied 16‑unit multifamily property in two matching buildings (1439 & 1447 Flathead St, Billings, MT 59105); All units are 1 bed / 1 bath with 16 apartments at 529 SF each; total building area is approx. 13,324 SF; Tenant‑paid all‑electric utilities
