Triplex with Detached Carriage
New
For Sale
$750,000
224 12th Avenue, Helena, MT 59601
ResidentialIncome, Helena, MT
Property Size4,764 SF
Lot Size0.33 Acres
Price / SF$157.43
Days on Market5
Property Features for 224 12th Avenue
General Information
Property type
Residential Multi Family
Property subtype
Triplex
Rooms
Basement, Laundry Room
Interior features
Fireplace
Fireplace
1
Appliances
Dishwasher, Range, Refrigerator
Directions
Corner of Ewing and 12th, maps will get you there.
Standard status
Active
APN
05188830345250000
Size
4,764 SF
Lot size
0.33 Acres
Additional Details
Tenant in Place
Yes
Taxes and HOA fees
Tax Year
2025
Tax Description
CENTRAL ADDN NO 1, S30, T10 N, R03 W, BLOCK 10, Lot 1 - 4
Tax Annual Amount
5508
Legal Description
CENTRAL ADDN NO 1, S30, T10 N, R03 W, BLOCK 10, Lot 1 - 4
Utilities
Sewer type
Public Sewer
Water source
Public
Building Details
Year built
1895
Floors in Building
1
Number of units
3
Roof type
Metal, Tar/Gravel
Buildings
2
Listing Agency:
Big Sky Brokers, LLC
(406) 443-1300
Listed By:
Marcia Ellermeyer · License #RRE-BRO-LIC-127793
(406) 431-2226
Added: Nov 2
Changed: Nov 5
Last Checked: Nov 6 at 4:06AM
MLS# 30080583
Copyright © 2026 Montana Regional MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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Investment Insights
Based on property information with market context.
Built in 1895, this triplex contains 4,764 square feet of finished space arranged as three residential units with a combined five bedrooms and three bathrooms. The property includes a detached carriage house with six garage bays; each bay is leased. A fireplace, dishwasher, range, and refrigerator are among the building’s reported features. The 0.326-acre parcel is served by public water and public sewer.
At 224 12th Avenue in Helena, the property is described as walkable to downtown dining, breweries, and shopping. Central Elementary, Helena Middle, and Helena High School are also identified nearby. The location is in Helena’s South Central neighborhood.
At 224 12th Avenue in Helena, the property is described as walkable to downtown dining, breweries, and shopping. Central Elementary, Helena Middle, and Helena High School are also identified nearby. The location is in Helena’s South Central neighborhood.
Key Highlights
- Three residential units with a combined 5 bedrooms and 3 bathrooms
- 4,764 square feet of finished space on a 0.326‑acre parcel
- Detached carriage house contains 6 garage bays; all bays are leased
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$43,029
Cap Rate
5.74%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$860,580
$860.6K
Cap Rate 7%
$614,700
$614.7K
Cap Rate 9%
$478,100
$478.1K
Market Conditions
NOI Build-Up for 4,764 SF
Gross rent
$65.7K $13.80/SF
− Vacancy
−$4.3K −$0.90/SF
EGI
$61.5K $12.90/SF
− OpEx
−$18.4K −$3.87/SF
NOI
$43.0K $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 Rate 5%
$860,580
Cap Rate 7%
$614,700
Cap Rate 9%
$478,100
Alternative Uses
Best Use
Multifamily LT 5
$614.7K
$537.9K – $717.2K
NOI $43,029 @ 7.0% cap · market cap 5.74%
Second Best
Apartment 5plus
$576.1K
$504.1K – $672.1K
NOI $40,325 @ 7.0% cap · market cap 5.38%
Theoretical Best
Office A
$1.03M
$905.5K – $1.21M
NOI $72,443 @ 7.0% cap · market cap 9.66%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
2,378
Businesses Nearby
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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
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Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Triplex - Three residential units are complemented by a separate garage building with six bays, all currently leased.
Where is this triplex located?
The property is located at 224 12th Avenue Helena, MT.
What is the asking price?
The asking price for this property is $750,000.
What are key features of this property?
This property features: Three residential units with a combined 5 bedrooms and 3 bathrooms; 4,764 square feet of finished space on a 0.326‑acre parcel; Detached carriage house contains 6 garage bays; all bays are leased
