Corner Lot 5-Unit Apartment
405 Roxy Lane Billings, MT 59105
New
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 Market7
Property Features for 405 Roxy Lane
General Information
- Standard status
- Active
- Size
- 5,600 SF
- Property subtype
- Multi Family Home
Building Details
- Year Built
- 1982
Listing Agency:
Century 21 Americana
(406) 294-2121
Listed By:
Brian Lang · License #RRE-RBS-LIC-70650
Source:
Clearwaterproperties
Added: Jul 17
Changed: Jul 20
Last Checked: Jul 21 at 4:26AM
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
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 For Apartment 5plus
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 | $90.7k | $16.20 |
| − Vacancy | −$4.5k | −$0.81 |
| EGI | $86.2k | $15.39 |
| − OpEx | −$38.8k | −$6.93 |
| NOI | $47.4k | $8.46 |
5,600 SF · lease $16.20/SF/yr · vacancy 5.00% · expense 45.00%
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 local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Apartment buildings
FAQs
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 Lane 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
