Updated 4-Unit
For Sale
Contact for pricing
2024 Villard Avenue, Helena, MT 59601
Updated apartments feature modern kitchens, remodeled bathrooms, laundry hookups, private storage, and off-street parking.
Property Size3,744 SF
Price / SF$213.41
Days on Market18
Property Features for 2024 Villard Avenue
General Information
Standard status
Active
Size
3,744 SF
Property subtype
Multifamily
Units
Unit Mix
4 x 2BR/1BA
Multifamily Units
4
Amenities
washer/dryer hookups
dedicated storage units
off-street parking with electrical outlets
underground sprinklers
mature landscaping
Building Details
Year Built
1976
Units
4
Listing Agency:
Berkshire Hathaway HomeServices - Helena
(406) 431-9573
Listed By:
Deb Whitcomb · License #RRE-BRO-LIC-18421
Source:
Crexi
Added: Jul 25
Changed: Aug 4
Last Checked: Aug 10 at 6:54AM
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 Berkshire Hathaway HomeServices - Helena
Investment Insights
Based on property information with market context.
This 3,744-square-foot quadplex in Helena was built in 1976 and contains four two-bedroom, one-bath apartments. Improvements include modernized kitchens, remodeled bathrooms, and new windows throughout. Each unit has washer and dryer hookups, a dedicated storage unit, and off-street parking with electrical outlets.
The property is located at 2024 Villard Avenue in Helena, Montana. Exterior amenities include front and rear lawn areas, underground sprinklers, and mature landscaping. The asset has been held by the same investor since 1980, with the source information describing a history of ongoing care and rental performance.
The property is located at 2024 Villard Avenue in Helena, Montana. Exterior amenities include front and rear lawn areas, underground sprinklers, and mature landscaping. The asset has been held by the same investor since 1980, with the source information describing a history of ongoing care and rental performance.
Key Highlights
- Four 2‑bedroom/1‑bath apartments in a 3,744 SF quadplex
- Built in 1976 with updated kitchens and remodeled bathrooms
- New windows throughout the property
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$33,816
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.23%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$676,320
$676.3K
Cap Rate 7%
$483,086
$483.1K
Cap Rate 9%
$375,733
$375.7K
Market Conditions
NOI Build-Up for 3,744 SF
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.
Gross rent
$51.7K $13.80/SF
− Vacancy
−$3.4K −$0.90/SF
EGI
$48.3K $12.90/SF
− OpEx
−$14.5K −$3.87/SF
NOI
$33.8K $9.03/SF
Area
Lewis and Clark County, MT
Vacancy
6.50%
Lease Rate
$13.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$676,320
Cap Rate 7%
$483,086
Cap Rate 9%
$375,733
Alternative Uses
Best Use
Multifamily LT 5
$483.1K
$422.7K – $563.6K
NOI $33,816 @ 7.0% cap · market cap 4.23%
Second Best
Apartment 5plus
$452.7K
$396.1K – $528.2K
NOI $31,691 @ 7.0% cap · market cap 3.97%
Theoretical Best
Office A
$813.3K
$711.7K – $948.9K
NOI $56,933 @ 7.0% cap · market cap 7.13%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
621
Businesses Nearby
Explore this area
Business Placement
Demographics for 59601, MT
30,848
Population
15,937
Households
1.9
Avg Household Size
41
Median Age
51%
College-Educated
96%
High-School Grad
130.2 sq mi
ZIP Area
237
Density / Sq Mi
$70,502
Median Household Income
$44,000
Median Earnings
$1,023
Median Rent
$355,000
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Quadplex - Updated apartments feature modern kitchens, remodeled bathrooms, laundry hookups, private storage, and off-street parking.
Where is this quadplex located?
The property is located at 2024 Villard Avenue Helena, MT.
What is the asking price?
The asking price for this property is $799,000.
What are key features of this property?
This property features: Four 2‑bedroom/1‑bath apartments in a 3,744 SF quadplex; Built in 1976 with updated kitchens and remodeled bathrooms; New windows throughout the property
