Six-Plex Apartment Building Under
For Sale
$1,990,000
4633 King Avenue W, Billings, MT 59106
MULTI_FAMILY - Billings, MT
Property Size7,864 SF
Lot Size1.84 Acres
Price / SF$253.05
Days on Market34
Property Features for 4633 King Avenue W
General Information
Property type
Residential Multi Family
Property subtype
Other
Property condition
Under Construction
Zoning description
Mixed Residential 2
Bedrooms
7
Full bathrooms
5
Half bathrooms
1
Rooms
Bedroom 5, Bathroom 4, Bathroom 1, Bathroom 6, Bathroom 3, Bedroom 2, Bathroom 2, Bedroom 7, Bedroom 4, Bathroom 5, Bedroom 3, Bedroom 1, Bedroom 6
Subdivision
Ridgeline Subdivision
Lot features
Landscaped, Level
Elementary school
Meadowlark
Middle school
Ben Steele
High school
West
Standard status
Active
APN
A37969
Size
7,864 SF
Lot size
1.84 Acres
Taxes and HOA fees
Tax Description
RIDGELINE SUBD (24), S10, T01 S, R25 E, BLOCK 2, Lot 1 (4633 King Avenue W)
Legal Description
RIDGELINE SUBD (24), S10, T01 S, R25 E, BLOCK 2, Lot 1 (4633 King Avenue W)
Utilities
Sewer type
Public Sewer
Heating system
Forced Air, Natural Gas
Cooling system
Central Air
Water source
Public
Building Details
Year built
2024
Number of units
3
Building materials
ModularPrefab
Roof type
Asphalt, Shingle
Listing Agency:
Metro, REALTORS L.L.P
(406) 245-9300
Listed By:
James Coleman · License #RRE-RBS-LIC-79063
(406) 671-0475
Added: Jul 1
Changed: Aug 2
Last Checked: Aug 3 at 9:06AM
MLS# 354777
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 six-plex apartment building is under construction and built in 2024 with modular prefab construction materials. The property is set on a 1.841-acre lot with a 7,864 SF building size. Unit mix includes two 2-bedroom/1-bath units, two 2-bedroom/2-bath units, and two 3-bedroom/2.5-bath units.
Each unit is served by forced-air heating using natural gas and central air cooling. The roof is asphalt shingle, and utilities include public water and public sewer.
Located in the Ridgeline Subdivision on Billings’ West End, the property is positioned near shopping, restaurants, schools, parks, and other West End amenities. Four identical six-plex buildings are available, offering the ability to purchase one or multiple buildings. 20 of 24 total units are currently leased.
Each unit is served by forced-air heating using natural gas and central air cooling. The roof is asphalt shingle, and utilities include public water and public sewer.
Located in the Ridgeline Subdivision on Billings’ West End, the property is positioned near shopping, restaurants, schools, parks, and other West End amenities. Four identical six-plex buildings are available, offering the ability to purchase one or multiple buildings. 20 of 24 total units are currently leased.
Key Highlights
- Built in 2024 with modular prefab construction, under construction six‑plex apartment building
- Unit mix: two 2 bed/1 bath, two 2 bed/2 bath, two 3 bed/2.5 bath units
- 20 of 24 total units currently leased; four identical six‑plex buildings available
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 | $127.4k | $16.20 |
| − Vacancy | −$6.4k | −$0.81 |
| EGI | $121.0k | $15.39 |
| − OpEx | −$54.5k | −$6.93 |
| NOI | $66.6k | $8.46 |
7,864 SF · lease $16.20/SF/yr · vacancy 5.00% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$950.9K
$832.1K – $1.11M
NOI $66,565 @ 7.0% cap · market cap 3.34%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.72M
$1.50M – $2.00M
NOI $120,112 @ 7.0% cap · market cap 6.04%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
6
Residential units
Location Intelligence
Trade Area within ½ mile
259
Businesses Nearby
Explore this area
Business Placement
Demographics for 59106, MT
20,681
Population
8,164
Households
2.5
Avg Household Size
40
Median Age
52%
College-Educated
98%
High-School Grad
112.0 sq mi
ZIP Area
185
Density / Sq Mi
$122,374
Median Household Income
$52,380
Median Earnings
$1,380
Median Rent
$483,100
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Six 2- and 3-bedroom units under construction on a 1.841-acre site with public water and sewer, with 20 of 24 units leased.
Where is this apartment building located?
The property is located at 4633 King Avenue W Billings, MT.
What is the asking price?
The asking price for this property is $1,990,000.
What are key features of this property?
This property features: Built in 2024 with modular prefab construction, under construction six‑plex apartment building; Unit mix: two 2 bed/1 bath, two 2 bed/2 bath, two 3 bed/2.5 bath units; 20 of 24 total units currently leased; four identical six‑plex buildings available
