Eight-Unit Two-Story
420 Lordwith Drive Building C Billings, MT 59102
420 Lordwith Drive Building C, Billings, MT, 59102
$1,711,340
For Sale
$1,711,340
Brick building with eight 2BR/1BA units, 100% occupied, and condo conversion approved, including four renovated units.
Property Size7,920 SF
Price / SF$216.08
Days on Market97
Property Features for 420 Lordwith Drive Building C
General Information
- Standard status
- Active
- Size
- 7,920 SF
- Property subtype
- Apartment
Building Details
- Year Built
- 1959
Listing Agency
Century 21 Americana
(310) 570-5415
Listed by
Lukas Seely · License #RRE-RBS-LIC-88004
Source
Careychapman
Added: Apr 13 Checked: Jul 18 at 2:55 am
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 two-story brick multifamily property contains eight apartments, all configured as 2BR/1BA units. The in-place unit mix includes four renovated units and four classic units. The building is 100% occupied, with an active waitlist indicating current demand.
The property is located within a three-building offering at 420 Lordwith Drive, available either individually or as part of the full portfolio. Condo conversion has been approved, providing additional flexibility for the ownership plan.
The building is positioned less than one mile from a major hospital development, supporting continued rental demand in the surrounding area.
The property is located within a three-building offering at 420 Lordwith Drive, available either individually or as part of the full portfolio. Condo conversion has been approved, providing additional flexibility for the ownership plan.
The building is positioned less than one mile from a major hospital development, supporting continued rental demand in the surrounding area.
Key Highlights
- 8‑unit, two‑story brick multifamily built in 1959
- All units are 2BR/1BA with a 100% occupancy rate and an active waitlist
- Balanced unit mix: 4 renovated units and 4 classic units
Local 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 | $128.3k | $16.20 |
| − Vacancy | −$6.4k | −$0.81 |
| EGI | $121.9k | $15.39 |
| − OpEx | −$54.8k | −$6.93 |
| NOI | $67.0k | $8.46 |
7,920 SF · lease $16.20/SF/yr · vacancy 5.00% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$957.7K
$838.0K – $1.12M
NOI $67,039 @ 7.0% cap · market cap 3.92%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.73M
$1.51M – $2.02M
NOI $120,967 @ 7.0% cap · market cap 7.07%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Lordwith Apartments
Apartment Complex
Similar For Sale Nearby
FAQs
What type of property is this?
Apartment building - Brick building with eight 2BR/1BA units, 100% occupied, and condo conversion approved, including four renovated units.
Where is this apartment building located?
The property is located at 420 Lordwith Drive Building C Billings, MT.
What is the asking price?
The asking price for this property is $1,711,340.
What are key features of this property?
This property features: 8‑unit, two‑story brick multifamily built in 1959; All units are 2BR/1BA with a 100% occupancy rate and an active waitlist; Balanced unit mix: 4 renovated units and 4 classic units
