6-Unit Apartment
4633 King Avenue W, Billings, MT 59106
For Sale
New
$1,990,000
Residential, Billings, MT
Property Size7,864 SF
Lot Size1.84 Acres
Price / SF$253.05
Days on Market5
Property Features for 4633 King Avenue W
General Information
Property type
Property subtype
Property condition
Zoning description
Bedrooms
Full bathrooms
Half bathrooms
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Subdivision
Lot features
Elementary school
Middle school
High school
Standard status
APN
Size
Lot size
Taxes and HOA fees
Tax Description
Tax Annual Amount
Legal Description
Utilities
Sewer type
Heating system
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Building Details
Year built
Number of units
Building materials
Roof type
Buildings
Listing Agency:
Metro, REALTORS L.L.P
(406) 245-9300
Listed By:
James Coleman · License MT RRE-RBS-LIC-79063
(406) 671-0475
Added: Nov 9
Last Checked: Nov 13 at 4:06AM
MLS# 362725
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.
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Investment Insights
Based on property information with market context.
This 6-unit apartment property is under construction, with a 2024 year built and 7,864 square feet of building area on a 1.841-acre lot. The planned mix comprises two 2-bedroom/1-bath apartments, two 2-bedroom/2-bath apartments, and two 3-bedroom/2.5-bath apartments. Open-concept living areas are included in each unit. Construction is modular, with forced-air natural gas heat and central air conditioning; public water and sewer serve the property.
The property is in the Ridgeline Subdivision on Billings’ West End. Four matching 6-unit buildings are available, and 20 of the 24 apartments across the four-building offering are leased.
The property is in the Ridgeline Subdivision on Billings’ West End. Four matching 6-unit buildings are available, and 20 of the 24 apartments across the four-building offering are leased.
Key Highlights
- Six apartments with a mix of 2‑bedroom/1‑bath, 2‑bedroom/2‑bath, and 3‑bedroom/2.5‑bath layouts
- 7,864 square feet of building area on a 1.841‑acre lot
- Under construction; year built listed as 2024
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$66,565
Cap Rate
3.34%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,331,300
$1.3M
Cap Rate 7%
$950,929
$950.9K
Cap Rate 9%
$739,611
$739.6K
Market Conditions
NOI Build-Up for 7,864 SF
Gross rent
$127.4K $16.20/SF
− Vacancy
−$6.4K −$0.81/SF
EGI
$121.0K $15.39/SF
− OpEx
−$54.5K −$6.93/SF
NOI
$66.6K $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%
$1,331,300
Cap Rate 7%
$950,929
Cap Rate 9%
$739,611
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.
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Lease Details
6
Residential units
Location Intelligence
Trade Area within ½ mile
46
Businesses Nearby
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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
$483,100
Median Home Value
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Market
Average Price Trend$/SF for Apartment buildings in Billings, MT
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Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Apartment building - A varied bedroom and bathroom mix serves households seeking different apartment configurations.
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: Six apartments with a mix of 2‑bedroom/1‑bath, 2‑bedroom/2‑bath, and 3‑bedroom/2.5‑bath layouts; 7,864 square feet of building area on a 1.841‑acre lot; Under construction; year built listed as 2024
