Furnished Sober Living Multifamily
For Sale
$500,000
3320 Ravalli Pl, Billings, MT 59102
COMMERCIAL - Billings, MT
Property Size5,144 SF
Lot Size0.21 Acres
Price / SF$97.20
Days on Market73
Property Features for 3320 Ravalli Pl
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
N2 - Mid-Century Neighborhood Residential
Parking
6
Parking features
Parking Lot
Interior features
Storage
Appliances
Refrigerator
Subdivision
Patricia
Lot features
Alley, Sprinklers In Ground
Directions
Broadwater to Ravalli - across from Peter Yegen Golf Course
Standard status
Active
APN
C02157
Size
5,144 SF
Lot size
0.21 Acres
Taxes and HOA fees
Tax Description
PATRICIA SUBD, S02, T01 S, R25 E, BLOCK 1, Lot 2 - 3
Tax Annual Amount
2811
Legal Description
PATRICIA SUBD, S02, T01 S, R25 E, BLOCK 1, Lot 2 - 3
Utilities
Sewer type
Public Sewer
Heating system
Natural Gas, Hot Water(Heating)
Water source
Public
Building Details
Year built
1964
Floors in Building
2
Building materials
Brick
Roof type
Asphalt
Additional Structures
Storage
Listing Agency:
Meridian Real Estate LLC
(406) 671-6955
Listed By:
Christy Fenno · License #RRE-BRO-LIC-16037
(406) 256-7252
Added: Jun 10
Changed: Aug 4
Last Checked: Aug 21 at 3:06AM
MLS# 357783
Copyright © 2026 Billings Association of Realtors. 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 fully furnished multifamily property is operating as a sober living home and is set up for immediate use. The home offers 8 bedrooms, two full kitchens, and two fireplaces, along with separate entrances intended to add flexibility to day-to-day operations.
The property is located on a cul-de-sac with alley access, which can support practical service and back-of-house access.
The current configuration, combined with its turn-key furnishings, provides a straightforward option for an owner looking to take over an operating setup.
The property is located on a cul-de-sac with alley access, which can support practical service and back-of-house access.
The current configuration, combined with its turn-key furnishings, provides a straightforward option for an owner looking to take over an operating setup.
Key Highlights
- West End Billings business opportunity operating as a sober living home with 8 bedrooms
- Multifamily layout includes 2 full kitchens and separate entrances
- Exterior built with brick construction; roof is asphalt
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
$43,541
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
8.71%
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%
$870,820
$870.8K
Cap Rate 7%
$622,014
$622.0K
Cap Rate 9%
$483,789
$483.8K
Market Conditions
NOI Build-Up for 5,144 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
$83.3K $16.20/SF
− Vacancy
−$4.2K −$0.81/SF
EGI
$79.2K $15.39/SF
− OpEx
−$35.6K −$6.93/SF
NOI
$43.5K $8.46/SF
Area
Billings, MT
Vacancy
5.00%
Lease Rate
$16.20 /SF/Yr
Expense Ratio
45.00%
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%
$870,820
Cap Rate 7%
$622,014
Cap Rate 9%
$483,789
Alternative Uses
Best Use
Apartment 5plus
$622.0K
$544.3K – $725.7K
NOI $43,541 @ 7.0% cap · market cap 8.71%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.12M
$982.1K – $1.31M
NOI $78,567 @ 7.0% cap · market cap 15.71%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
240
Businesses Nearby
Explore this area
Business Placement
Demographics for 59102, MT
48,133
Population
22,706
Households
2.1
Avg Household Size
41
Median Age
43%
College-Educated
97%
High-School Grad
15.0 sq mi
ZIP Area
3,209
Density / Sq Mi
$75,140
Median Household Income
$43,203
Median Earnings
$1,148
Median Rent
$307,400
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Apartment building - Operating sober living home with 8 bedrooms, two full kitchens, separate entrances, and 100% furnished ready for use.
Where is this apartment building located?
The property is located at 3320 Ravalli Pl Billings, MT.
What is the asking price?
The asking price for this property is $500,000.
What are key features of this property?
This property features: West End Billings business opportunity operating as a sober living home with 8 bedrooms; Multifamily layout includes 2 full kitchens and separate entrances; Exterior built with brick construction; roof is asphalt
