Listed by NAI Business Properties
$3,950,000
The Place at North 24th
Details
Property Type Multifamily
Sub Type Apartment Building
Square Footage 36,480
Units 54
Cap Rate 7.12%
NOI $281,378
Year Built 1910
Lot Size (SqFt) 28,000
Zoning CBD-Central Business District
54-Unit Multifamily Listing in Downtown Billings
Marketing description
The Place at North 24th is located in the heart of downtown Billings on North 24th Street between 2nd Avenue North and 1st Avenue North. The apartment building offers 1 bedroom - 1 bathroom units and studio - 1 bathroom units with street parking. A common laundry facility with electronic pay is available to tenants. Units have heat. The heat source is gas. Tenant sets up electricity. There is a utility charge for gas, water, sewer and trash.
Investment highlights
54 Units
Building Size: 36,496 Square Feet
Total Lot Size: 28,000 Square Feet
UNIT MIX:
One Bedroom: 31
One Bedroom Deluxe: 9
Studio: 12
Micro Studio: 2
7.12% CAP Rate
List Price: $3,950,000 ($73,148.15/Unit)
Listing Contacts
Listed by NAI Business Properties
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$281,378.00
$23,448.17/mo
Valuation Metrics
0
DSCR
7.12%
Cap Rate
7.12%
ROI
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