940 Avenue B - Apartments FOR SALE


Billings, MT 59102
$640,000 USD
406-656-2001
940 Avenue B, Billings, MT for Sale
$640,000 USD
Apartments - FOR SALE
1/13
null | Request Cap Rate

940 Avenue B
Billings, MT 59102


HIGHLIGHTS

  • Coin-operated laundry on-site for additional revenue
  • Quiet street with easy access to amenities and transportation
  • Desirable Mid-Town location with CMU1 zoning

OVERVIEW

940 Avenue B Billings MT,59102 Property Highlights: - 5-unit fully occupied multifamily property - Desirable Mid-Town location with CMU1 zoning - Units include: - Unit #1: 3 Bed, 2 Bath - Units #2-4: 2 Bed, 1 Bath - Unit #5 (Basement): 1 Bed, 1 Bath - Quiet street with easy access to amenities and transportation - Coin-operated laundry on-site for additional revenue - Rents below market value, offering cash flow growth potential - Four tenants on month-to-month agreements; ideal for immediate rent adjustments Property Description: 940 Avenue B is an attractive 5-unit multifamily investment opportunity located in the heart of Mid-Town. Nestled on a quiet residential street, this property benefits from a prime location that offers both a serene neighborhood vibe and quick access to nearby conveniences, making it an appealing choice for tenants seeking both comfort and accessibility. This well-maintained building features a versatile mix of apartment sizes to attract a broad range of renters. Unit #1 is the largest. It is a three-bedroom, two-bathroom suite perfect for families or roommates. Units #2 through #4 are two-bedroom, one-bathroom layouts that provide cozy yet spacious living options. Lastly, Unit #5 is a one-bedroom, one-bathroom basement suite that rounds out the property, ideal for individuals or couples seeking an efficient space in a desirable area. Coin-operated laundry facilities are available on-site, generating additional income and adding convenience for tenants. Most leases are currently month-to-month, providing an immediate opportunity to adjust rents closer to market rates and significantly increase cash flow. With current rents below market value, there is a clear path for revenue growth, making this an excellent addition to any real estate investment portfolio.

FOR SALE DETAILS

PRICE

$640,000 USD

PRICE/SF

$122 USD /SF

# OF UNITS

5

PRICE/UNIT

$128,000

CAP RATE

Request Cap Rate

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

940 Avenue B

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1963

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.27 AC

LAND SF

11,811 SF

ZONING

CMU1

APN/PARCEL ID

03-1033-31-3-05-09-0000

ASK ABOUT THIS PROPERTY

Erik CaseresColdwell Banker CBSMore Info
406-656-2001

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Erik CaseresColdwell Banker CBSMore Info
406-656-2001

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.