Stabilized 16-Unit Apartment
1447 Flathead St Billings, MT 59105
New
1447 Flathead St, Billings, MT, 59105
$3,167,350
For Sale
$3,167,350
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 Market6
Property Features for 1447 Flathead St
General Information
- Standard status
- Active
- Size
- 13,324 SF
- Property subtype
- Multi-Family
Building Details
- Year Built
- 1983
Listing Agency
Coldwell Banker Commercial CBS
Listed by
Nathan Matelich
Source
Commercialcafe
Added: Jul 13 Checked: Jul 17 at 4:33 am
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
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
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 | $215.8k | $16.20 |
| − Vacancy | −$10.8k | −$0.81 |
| EGI | $205.1k | $15.39 |
| − OpEx | −$92.3k | −$6.93 |
| NOI | $112.8k | $8.46 |
13,324 SF · lease $16.20/SF/yr · vacancy 5.00% · expense 45.00%
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 local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Short term rental ...
Similar For Sale Nearby
FAQs
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
