Corner Lot 5-Unit Apartment
405 Roxy, Billings, MT 59105
For Sale
$810,000
Five 2-bedroom, 1-bath units on a corner lot with additional parking, storage, and deck/patio features.
Property Size5,600 SF
Price / SF$144.64
Days on Market120
Property Features for 405 Roxy
General Information
Standard status
Size
Property subtype
Site & Location
Neighborhood
Taxes and HOA fees
Annual Taxes
Amenities
Garage: Additional Parking
0.00
Additional Parking
Building Details
Year Built
Listing Agency:
Century 21 Americana
Listed By:
Brian Lang · License MT RRE-RBS-LIC-70650
(406) 860-6881
Source:
Clearwaterproperties
Added: Jul 17
Changed: Nov 12
Last Checked: Nov 12 at 6:16AM
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 Century 21 Americana
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Investment Insights
Based on property information with market context.
This five-unit apartment property includes five 2-bedroom, 1-bath residences. Each unit is approximately 1,120 square feet, and the building is set up with electric baseboard heat. Exterior and common features include additional parking, underground sprinklers, storage, and deck/patio areas.
The property sits on a corner lot in Billings Heights near Lake Elmo. Utilities include public water and sewer, and the location is described as being near schools and shopping.
As an income-producing multifamily asset, it offers five separate units within a single building configuration, supported by the stated current rent ranges and overall consistency of demand in the area.
The property sits on a corner lot in Billings Heights near Lake Elmo. Utilities include public water and sewer, and the location is described as being near schools and shopping.
As an income-producing multifamily asset, it offers five separate units within a single building configuration, supported by the stated current rent ranges and overall consistency of demand in the area.
Key Highlights
- Five 2‑bedroom, 1‑bath units in a 5‑plex (built in 1982)
- Each unit is approximately 1,120 SF
- Current rents range from $1,050–$1,200
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$47,401
Cap Rate
5.85%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$948,020
$948.0K
Cap Rate 7%
$677,157
$677.2K
Cap Rate 9%
$526,678
$526.7K
Market Conditions
NOI Build-Up for 5,600 SF
Gross rent
$90.7K $16.20/SF
− Vacancy
−$4.5K −$0.81/SF
EGI
$86.2K $15.39/SF
− OpEx
−$38.8K −$6.93/SF
NOI
$47.4K $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 Rate 5%
$948,020
Cap Rate 7%
$677,157
Cap Rate 9%
$526,678
Alternative Uses
Best Use
Apartment 5plus
$677.2K
$592.5K – $790.0K
NOI $47,401 @ 7.0% cap · market cap 5.85%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.22M
$1.07M – $1.43M
NOI $85,532 @ 7.0% cap · market cap 10.56%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Location Intelligence
Trade Area within ½ mile
280
Businesses Nearby
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Business Placement
Demographics for 59105, MT
33,310
Population
14,198
Households
2.3
Avg Household Size
37
Median Age
30%
College-Educated
96%
High-School Grad
95.9 sq mi
ZIP Area
347
Density / Sq Mi
$74,572
Median Household Income
$44,359
Median Earnings
$1,261
Median Rent
$314,900
Median Home Value
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Market
Average Price Trend$/SF for Apartment buildings in Billings, MT
Properties on Market for Apartment buildings in Billings
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Apartment building - Five 2-bedroom, 1-bath units on a corner lot with additional parking, storage, and deck/patio features.
Where is this apartment building located?
The property is located at 405 Roxy Billings, MT.
What is the asking price?
The asking price for this property is $810,000.
What are key features of this property?
This property features: Five 2‑bedroom, 1‑bath units in a 5‑plex (built in 1982); Each unit is approximately 1,120 SF; Current rents range from $1,050–$1,200
