Historic 4-Plex Investment
24 Broadwater Billings, MT 59101
24 Broadwater, Billings, MT, 59101
$300,000
For Sale
$300,000
Residential Multi Family, Other - Billings, MT
Property Size3,021 SF
Price / SF$99.30
Days on Market76
Property Features for 24 Broadwater
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Standard status
- Active
- Size
- 3,021 SF
Building Details
- Year built
- 1910
- Architectural style
- Other
Listing Agency
NextHome Peaks to Prairie
(406) 698-6330
2880 Grand Avenue, MT
Listed by
Jeff Berger · License #RRE-RBS-Lic-98963,PersonLicenseNumber
(406) 970-4034
Added: May 5 Checked: Jul 19 at 1:06 am
MLS# 359122
Listing URL
Copyright © 2026 NextHome, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This historic 4-plex was built in 1910 and provides a residential income setup with four separate units. The property includes convenient off-street parking and a shared coin-op laundry that serves residents.
Located at 24 Broadwater in Billings, Montana, the building is described as being near downtown, with easy access to dining and employment centers.
With its vintage character and functional layouts across multiple units, this multifamily property is presented as an income-focused opportunity for buyers seeking a 4-plex in a well-situated area.
Located at 24 Broadwater in Billings, Montana, the building is described as being near downtown, with easy access to dining and employment centers.
With its vintage character and functional layouts across multiple units, this multifamily property is presented as an income-focused opportunity for buyers seeking a 4-plex in a well-situated area.
Key Highlights
- 4‑plex built in 1910 with historic character and period details
- Near downtown Billings, offering convenient access to dining and employment centers
- Off‑street parking available for residents
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
Property Profile
Location Intelligence
Current Use by Public Records
Quadplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Quadplex - Built in 1910, this 4-plex offers off-street parking and a shared coin-op laundry for tenants.
Where is this quadplex located?
The property is located at 24 Broadwater 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: 4‑plex built in 1910 with historic character and period details; Near downtown Billings, offering convenient access to dining and employment centers; Off‑street parking available for residents
