709 Anchor Ave #1-7
Multifamily | 7 Units | $110,714/unit
Marketing description
Fully rented and well-maintained mid-century 7-plex in Billings heights near Main St. Updates include: new steel roof installed in 2012; brand new high-efficiency boiler system, windows, and doors installed in 2013; smart siding installed in 2017, as well as a french drain in the parking lot. 6 out of 7 units have been remodeled since 2012, 3 units have new LVP flooring. Gross projected income based on rent adjustments going into effect in June, 5 units will rent for $895/month and 2 units which are Section 8 will go up to $945/month. Utilities paid by owner with the exception of a premium charged during the summer months to tenants that use window A/C units.
Investment highlights
Using projected rents that begin June 2026 and 2025 expenses--
Gross Income:
$76,380
Net Income:
$54,738
Operating Expenses:
$12,779
Insurance:
$5,288
Avg Occupancy:
100%
CAP Rate:
7.2000
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