450 Montana AveLovell, WY 82431

Property Details for 450 Montana Ave

Year built

1950

Lot size

0.20 AC

Property size (Sq ft)

1,920 SF

Property type

Investment properties

Property subtype

Live-work space

APN

56961421201166

APU

56961421201166

Description

This 1,920 square foot mixed-use building in downtown Lovell, Wyoming, presents a lucrative investment opportunity. The property, built in 1950 and situated on an 8,712 square foot lot at 450 Montana Ave, 82431, boasts three apartment units and a commercial space currently operating as a beauty salon. Recent upgrades include a new roof, furnace, hot water heater, paint, flooring, LED lighting, and vanities, along with vinyl siding and handicap accessibility in the salon. Ample off-street parking is available. Two apartments are under one-year leases, one is month-to-month, as is the salon. The seller currently covers all utilities (approximately $275 monthly), and tenants are responsible for snow removal. The prime location offers easy access to main street businesses and provides proximity to the Big Horn Mountains for outdoor recreation, including hiking, ATV riding, fishing, camping, and hunting. Cody, Wyoming, and Yellowstone National Park are within a short driving distance. This property offers significant potential for growth and development.

• CAP approach

  CAP return

  Valuation

  6%

  $426,381

  6.5%

  $393,583

  7%

  $365,470

• Comparable approach

  Method

  Valuation

  Relative Method

  $485,575

  Geo Method

  $158,630

• Alternative Use

  Use

  Valuation

  Residential

  $488,043

  Hospitality

  $447,044

  Educational

  $371,936

  Medical

  $384,727

  Retail

  $578,567

Location Insight

City

Lovell

County

Big Horn

State

Wyoming

Latitude

44.8367

Longitude

-108.392

Property Tax & Assessments

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