940 Avenue BBillings, MT 59102

Property Details for 940 Avenue B

Year built

1963

Property size (Sq ft)

5,260 SF

Property type

Other commercial real estate

Property subtype

Multifamily properties

Description

This exceptional 5-unit apartment building presents a compelling investment opportunity in Billings, Montana. Located at 940 Avenue B, this property boasts 5,260 square feet on an 11,811 square foot lot, zoned CMU1. The building, constructed in 1963, features a mix of unit sizes: one three-bedroom, two-bathroom unit; three two-bedroom, one-bathroom units; and one one-bedroom, one-bathroom basement unit. Currently 100% occupied, the property generates a substantial NOI of $23,208, with a pro-forma NOI of $44,302, reflecting significant potential for increased revenue. The asking price is $640,000, representing a price per square foot of $121.67 and a price per unit of $128,000. The property benefits from on-site coin-operated laundry, adding to its income potential. Four of the five units are on month-to-month leases, allowing for immediate rent adjustments to market rates. Its desirable mid-town location offers easy access to amenities and transportation, making it attractive to renters. This well-maintained property presents a strong cash flow and significant upside potential for the savvy investor. The property's current below-market rents provide a clear path to substantial revenue growth. This is a rare opportunity to acquire a stable, income-producing asset with significant upside potential in a thriving Montana market.

Location Insight

City

Billings

County

Yellowstone

State

Montana

Latitude

45.785

Longitude

-108.54

FAQs

How do I add a non-forward facing team member such as a broker coordinator or broker aide to a listing in order to ensure they get notifications on the property?

Please email our support team at [email protected] and they will add the team member.

How do I access a private listing?

Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.

How can I contact the broker?

We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.

How do I unsubscribe from emails?

At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at [email protected].