Three-Unit Multifamily Investment
4131 Buchanan Avenue Billings, MT 59101
For Sale
Under Contract
$225,000
MULTI_FAMILY - Billings, MT
Property Size1,996 SF
Lot Size0.14 Acres
Price / SF$112.73
Days on Market9
Property Features for 4131 Buchanan Avenue
General Information
- Property type
- Residential Multi Family
- Property subtype
- Triplex
- Bedrooms
- 5
- Rooms
- Bedroom 4, Bedroom 2, Bathroom 3, Bedroom 1, Bathroom 2, Bedroom 3, Bathroom 1, Bedroom 5
- Standard status
- Active Under Contract
- APN
- A06926
- Size
- 1,996 SF
- Lot size
- 0.14 Acres
Taxes and HOA fees
- Tax Description
- FAIRVIEW SUBD, S09, T01 S, R26 E, BLOCK 1, Lot 15 - 16
- Tax Annual Amount
- 1426
Utilities
- Sewer type
- Public Sewer
- Water source
- Public
Building Details
- Year built
- 1939
- Floors in Building
- 1
- Number of units
- 3
- Roof type
- Asphalt
Listing Agency:
Keller Williams Yellowstone Properties
(406) 655-0005
Listed By:
Truthe West · License #RRE-BRO-LIC-127028
(406) 200-4182
Added: Jul 16
Changed: Jul 18
Last Checked: Jul 24 at 2:06PM
MLS# 353846
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 multifamily property features three fully-rented units, offering a unique investment opportunity. The front home includes 3 bedrooms and 1 bathroom. The back duplex contains two 1-bedroom, 1-bathroom units, designed for consistent rental income. The property has three new roofs and recent plumbing updates in the duplex. Each unit has a designated parking space. Tenants share a spacious, private courtyard area. The property is conveniently located with easy access to downtown, major roadways, and local amenities. The property size is 1996 square feet and the lot size is 0.14 acres. The property is offered as-is.
Key Highlights
- 1939‑built property with public water and public sewer
- Three fully rented units: front 3BD/1BA home plus a back duplex with two 1BD/1BA units
- Three brand‑new roofs and recent plumbing updates in the duplex
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 | $27.5k | $13.80 |
| − Vacancy | −$1.5k | −$0.76 |
| EGI | $26.0k | $13.04 |
| − OpEx | −$7.8k | −$3.91 |
| NOI | $18.2k | $9.13 |
1,996 SF · lease $13.80/SF/yr · vacancy 5.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$260.3K
$227.8K – $303.7K
NOI $18,221 @ 7.0% cap · market cap 8.10%
Second Best
Apartment 5plus
$241.4K
$211.2K – $281.6K
NOI $16,895 @ 7.0% cap · market cap 7.51%
Theoretical Best
Office A
$435.5K
$381.1K – $508.1K
NOI $30,486 @ 7.0% cap · market cap 13.55%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Triplexes
FAQs
What type of property is this?
Triplex - Fully rented triplex with consistent income potential near downtown Billings.
Where is this triplex located?
The property is located at 4131 Buchanan Avenue Billings, MT.
What is the asking price?
The asking price for this property is $225,000.
What are key features of this property?
This property features: 1939‑built property with public water and public sewer; Three fully rented units: front 3BD/1BA home plus a back duplex with two 1BD/1BA units; Three brand‑new roofs and recent plumbing updates in the duplex
