940-952 Yellowstone River RdBillings, MT 59105

Property Details for 940-952 Yellowstone River Rd

Year built

1953

Lot size

2.12 AC

Property type

Residential income properties

Property subtype

Multifamily properties

Description

This exceptional investment property in Billings, Montana, presents a unique opportunity to acquire a well-established, high-occupancy multifamily and self-storage facility. The property, situated on a 2.12-acre lot at 940-952 Yellowstone River Rd, features 47 units, including 23 enclosed and 22 open storage units, ranging in size from 12x24 to 12x36 feet. Additional space accommodates 15+ vehicles. The property also includes a duplex with two separate units. One unit boasts three bedrooms, two bathrooms, a master suite with a deck overlooking the Yellowstone River, a fenced yard, a large deck with a firepit, a storage shed, a double garage, and double carport. The second unit offers three bedrooms, one bathroom, a fenced yard, a front porch, laundry facilities, and a double carport. Both duplex units have long-term tenants. Built in 1953 and 2006, with renovations in 2004 and 2012, the property is classified as Class B and currently enjoys 100% occupancy, generating a Net Operating Income (NOI) of $96,925 and a 5.87% cap rate. The asking price is $1,650,000, representing a price per unit of $35,106.38. The property's CMU1-Corridor Mixed Use 1 zoning allows for significant expansion potential, including the addition of residential units above the existing storage facility. The secure, discreet location enhances the property's appeal and contributes to its consistently high occupancy rates. This value-add opportunity offers substantial upside potential through various expansion and improvement strategies. The property's current configuration and zoning provide a solid foundation for future growth and increased profitability.

Location Insight

City

Billings

County

Yellowstone

State

Montana

Latitude

45.8161

Longitude

-108.461

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