1439-1447 Flathead St 8 Unit Apartment Building $3,167,350 ($395,919/Unit) 4.45% Cap Rate Billings, MT 59105

- Stabilized 16-unit multifamily investment
- Two matching buildings totaling ±13,324 SF
- All 1 bedroom / 1 bathroom units
- 16 apartments @ 529 SF each
- 16 dettached garages @ 275 SF each — one per unit
- 2 on-site wash / utility rooms
- Fully occupied and stabilized
- Efficient, uniform unit mix for simplified management
- Utilities: tenant-paid all electric units
- Current 4.45% cap rate | NOI: $140,954 | Based on current rents of $895/mo per unit
- Pro Forma 6.25% cap rate | NOI: $197,959 | Based on rents of $1,195/mo per unit
- Pro Forma Short-Term Rental 8.67% cap rate | NOI: $274,759 | Based on rents of
$1,595/mo per unit
A rare opportunity to acquire a fully occupied, stabilized 16-unit apartment complex in one of Billings' established residential corridors. Made up of two identical buildings, the property offers all one-bedroom, one-bath units at an efficient 529 square feet each, with a private dettached garage for every unit and on-site laundry rooms in each building.
This uniform, low-maintenance unit mix — with a consistent floor plan across all sixteen units — means streamlined make-readys, predictable maintenance, and fewer variables for ownership. The added amenity of a private garage per unit drives tenant retention and supports premium rents in the Billings market, where onebedroom units continue to see strong demand and dependable occupancy.
Priced on midpoint Pro Forma NOI at a 6.25% cap rate, this offering delivers in-place cash flow from day one along with the operational simplicity and tenant appeal that make it an ideal addition to any investor's portfolio.