1447 Flathead St

- 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.