Historic 4-Plex Income
24 Broadwater Avenue Billings, MT 59101
24 Broadwater Avenue, Billings, MT, 59101
$300,000
For Sale
$300,000
Built in 1910, this four-unit multifamily property offers off-street parking and shared coin-op laundry.
Property Size3,021 SF
Price / SF$99.30
Days on Market19
Property Features for 24 Broadwater Avenue
General Information
- Standard status
- Active
- Size
- 3,021 SF
- Property subtype
- Multi Family Home
Building Details
- Year Built
- 1910
Listing agency
NextHome Peaks to Prairie
(406) 970-4034
Listed by
Jeff Berger · License #RRE-RBS-LIC-98963
Source
Clearwaterproperties
Added: Jul 4 Updated: Jul 21 at 12:56PM Checked: Jul 21 at 12:56PM
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 NextHome Peaks to Prairie
Investment Insights
Based on property information with market context.
This historic four-plex was built in 1910 and consists of four residential units within one property. The building provides off-street parking and a shared coin-op laundry facility for tenants.
The property is located near downtown Billings, with easy access to nearby dining, amenities, and employment centers.
As a residential income asset, it offers multiple unit configurations under one roof, supported by practical common-area conveniences including laundry and off-street parking.
The property is located near downtown Billings, with easy access to nearby dining, amenities, and employment centers.
As a residential income asset, it offers multiple unit configurations under one roof, supported by practical common-area conveniences including laundry and off-street parking.
Key Highlights
- Built in 1910, this two‑story 4‑plex offers historic character in a four‑unit multifamily format
- Off‑street parking available for residents
- Shared coin‑op laundry on‑site
Local Financial Insights For Multifamily LT 5
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 | $41.7k | $13.80 |
| − Vacancy | −$2.3k | −$0.76 |
| EGI | $39.4k | $13.04 |
| − OpEx | −$11.8k | −$3.91 |
| NOI | $27.6k | $9.13 |
3,021 SF · lease $13.80/SF/yr · vacancy 5.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$394.0K
$344.7K – $459.6K
NOI $27,578 @ 7.0% cap · market cap 9.19%
Second Best
Apartment 5plus
$365.3K
$319.6K – $426.2K
NOI $25,571 @ 7.0% cap · market cap 8.52%
Theoretical Best
Office A
$659.2K
$576.8K – $769.0K
NOI $46,142 @ 7.0% cap · market cap 15.38%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Quadplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Quadplex - Built in 1910, this four-unit multifamily property offers off-street parking and shared coin-op laundry.
Where is this quadplex located?
The property is located at 24 Broadwater Avenue Billings, MT.
What is the asking price?
The asking price for this property is $300,000.
What are key features of this property?
This property features: Built in 1910, this two‑story 4‑plex offers historic character in a four‑unit multifamily format; Off‑street parking available for residents; Shared coin‑op laundry on‑site
