Brick Apartment
420 Lordwith Drive Building B, Billings, MT 59102
For Sale
$1,841,880
The two-story property is fully occupied, with a mix of updated apartments and units that can be improved.
Property Size7,920 SF
Price / SF$232.56
Days on Market215
Property Features for 420 Lordwith Drive Building B
General Information
Standard status
Size
Property subtype
Occupancy
Site & Location
Neighborhood
Units
Unit Mix
Multifamily Units
Additional Details
Tenant in Place
Taxes and HOA fees
Annual Taxes
Building Details
Building Size
Year Built
Buildings
Stories
Construction
Listing Agency:
Century 21 Americana
Listed By:
Lukas Seely · License MT RRE-RBS-LIC-88004
(310) 570-5415
Source:
Huskeygroup
Added: Apr 13
Changed: Nov 7
Last Checked: Nov 12 at 8:59AM
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.
Built in 1959, this two-story brick apartment property contains 8 units and 7,920 square feet. Each apartment has 2 bedrooms and 1 bathroom. Five units have been renovated, while three have not yet been updated. The building is fully occupied.
The property has DOR approval for condo conversion. It is one of three buildings at 420 Lordwith Drive and may be acquired on its own or as part of the portfolio. A major regional hospital development is located less than one mile away.
The property has DOR approval for condo conversion. It is one of three buildings at 420 Lordwith Drive and may be acquired on its own or as part of the portfolio. A major regional hospital development is located less than one mile away.
Key Highlights
- 8‑unit, two‑story brick apartment building
- 7,920 square feet; built in 1959
- All units have 2 bedrooms and 1 bathroom
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$67,039
Cap Rate
3.64%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,340,780
$1.3M
Cap Rate 7%
$957,700
$957.7K
Cap Rate 9%
$744,878
$744.9K
Market Conditions
NOI Build-Up for 7,920 SF
Gross rent
$128.3K $16.20/SF
− Vacancy
−$6.4K −$0.81/SF
EGI
$121.9K $15.39/SF
− OpEx
−$54.8K −$6.93/SF
NOI
$67.0K $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%
$1,340,780
Cap Rate 7%
$957,700
Cap Rate 9%
$744,878
Alternative Uses
Best Use
Apartment 5plus
$957.7K
$838.0K – $1.12M
NOI $67,039 @ 7.0% cap · market cap 3.64%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.73M
$1.51M – $2.02M
NOI $120,967 @ 7.0% cap · market cap 6.57%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
Who owns this building?
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Open Analytics
Lease Details
8
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
1,218
Businesses Nearby
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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
$307,400
Median Home Value
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Market
Average Price Trend$/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 - The two-story property is fully occupied, with a mix of updated apartments and units that can be improved.
Where is this apartment building located?
The property is located at 420 Lordwith Drive Building B Billings, MT.
What is the asking price?
The asking price for this property is $1,841,880.
What are key features of this property?
This property features: 8‑unit, two‑story brick apartment building; 7,920 square feet; built in 1959; All units have 2 bedrooms and 1 bathroom
