1439 & 1447 Flathead St

Description:

- 1439 & 1447 Flathead St, Billings, MT 59105
- Stabilized 16-unit multifamily investment
- For Sale $3,167,350
- 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. Comprised 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 simplifies management, turnover, and ongoing upkeep — 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 one-bedroom 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.

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Listing ID: 270d74ad-0895-4b83-9c68-9eb374b1e94b

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