Mid-Century 7-Plex Residential
709 Anchor Avenue Billings, MT 59105
New
709 Anchor Avenue, Billings, MT, 59105
$750,000
For Sale
$750,000
MULTI_FAMILY - Ranch - Billings, MT
Property Size3,652 SF
Lot Size0.24 Acres
Price / SF$205.37
Days on Market4
Property Features for 709 Anchor Avenue
General Information
- Property type
- Residential Multi Family
- Property subtype
- Single Family Residence
- Parking
- 10
- Standard status
- Active
- APN
- C00650A
- Size
- 3,652 SF
- Lot size
- 0.24 Acres
Taxes and HOA fees
- Tax Description
- HERBERT SUBD, S22, T01 N, R26 E, BLOCK 1, Lot 5
- Tax Annual Amount
- 3575
Utilities
- Sewer type
- Public Sewer
- Heating system
- Hot Water(Heating)
- Cooling system
- Window Unit(s)
- Water source
- Public
Building Details
- Year built
- 1966
- Floors in Building
- 1
- Building materials
- Hardboard
- Roof type
- Metal
- Architectural style
- Ranch
Listing Agency
Montana Realty Services
(406) 690-4799
201 N Broadway, Ste 26, MT
Listed by
Amanda Escene · License #RRE-BRO-LIC-135963
(406) 690-4799
Added: Jul 15 Checked: Jul 18 at 2:06 pm
MLS# 360700
Listing URL
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 well-maintained mid-century 7-plex is fully rented and features updates across the property and unit interiors. A new steel roof was installed in 2012, followed by a brand-new high-efficiency boiler system, windows, and doors in 2013. Smart siding was added in 2017, and a French drain was installed in the parking lot. All seven units have been remodeled since 2012, and most units include new LVP flooring.
The property is located in Billings heights near Main St. Owner-paid utilities apply except for a premium charged during summer months to tenants using window A/C units.
The 7-plex consists of seven units with current monthly rents of $895 for four units, $900 for one unit, $945 for one unit, and $995 for one unit.
The property is located in Billings heights near Main St. Owner-paid utilities apply except for a premium charged during summer months to tenants using window A/C units.
The 7-plex consists of seven units with current monthly rents of $895 for four units, $900 for one unit, $945 for one unit, and $995 for one unit.
Key Highlights
- Mid‑century 7‑plex in Billings Heights near Main St, built in 1966
- Total monthly rents of $6,420: four units at $895, one at $900, one at $945, and one at $995
- New steel roof installed in 2012
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 | $59.2k | $16.20 |
| − Vacancy | −$3.0k | −$0.81 |
| EGI | $56.2k | $15.39 |
| − OpEx | −$25.3k | −$6.93 |
| NOI | $30.9k | $8.46 |
3,652 SF · lease $16.20/SF/yr · vacancy 5.00% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$441.6K
$386.4K – $515.2K
NOI $30,912 @ 7.0% cap · market cap 4.12%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$796.8K
$697.2K – $929.7K
NOI $55,779 @ 7.0% cap · market cap 7.44%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
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FAQs
What type of property is this?
Apartment building - Mid-century 7-plex in Billings heights with all units remodeled since 2012 and multiple major exterior and systems updates.
Where is this apartment building located?
The property is located at 709 Anchor Avenue Billings, MT.
What is the asking price?
The asking price for this property is $750,000.
What are key features of this property?
This property features: Mid‑century 7‑plex in Billings Heights near Main St, built in 1966; Total monthly rents of $6,420: four units at $895, one at $900, one at $945, and one at $995; New steel roof installed in 2012
