919 Mineral AveLibby, MT 59923

Property Details for 919 Mineral Ave

Year built

1946

Construction

WOOD

Lot size

0.22 AC

Property size (Sq ft)

2,680 SF

Property type

Residential income properties

Property subtype

Garden apartment buildings

APN

56-4175-03-3-18-09-0000

APU

56417503318090000

Description

This exceptional 15-unit apartment complex, located at 919 Mineral Ave, Libby, MT 59923, presents a compelling investment opportunity. Formerly a motel, this property offers significant potential for renovation and value enhancement. The complex boasts spacious units with roomy layouts, ripe for modernization and increased rental income. A manager's quarters is included on-site, ideal for on-site management or as an additional rental unit. The property's prime downtown location provides easy access to local parks and attractions. Both buildings feature an unfinished basement, presenting further potential for development and additional rentable space. The current cap rate is 4%. This multifamily property, categorized as both apartment building and commercial, is listed at $1,800,000. The property is a blank canvas, ready for your vision, whether that involves renovations to increase rental income or conversion to a different use. More photos are forthcoming.

• CAP approach

  CAP return

  Valuation

  6%

  $627,189

  6.5%

  $578,943

  7%

  $537,590

• Comparable approach

  Method

  Valuation

  Relative Method

  $885,674

  Geo Method

  $885,674

• Alternative Use

  Use

  Valuation

  Residential

  $578,943

  Hospitality

  $530,309

  Educational

  $441,211

  Medical

  $456,385

  Retail

  $686,328

Location Insight

City

Libby

County

Lincoln

State

Montana

Latitude

48.3872

Longitude

-115.555

Property Tax & Assessments

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