Description
An exceptional investment opportunity presents itself with this extensively renovated, income-generating mixed-use property within Livingstons vibrant downtown core. Erected in 1906, the historically significant Montana Block Building is an iconic fixture along Main Street. Architectural Digest acknowledges Livingston as the 19th most beautiful Main Street in America. Encompassing 24,900 square feet, the main floor comprises eight distinct retail spaces, complemented by an ancillary workshop area, with garage door access via the ally, concealed behind one of the retail units, and an office space currently used for short-term rental supply storage. Ascending to the second floor reveals thirteen residential units, comprising a mix of six studios and seven one-bedroom units. Three units maintain long-term lease agreements, while ten units offer fully furnished, short- to medium-term rentals. The sale of the property includes the conveyance of all furnishings and supplies. The building incorporates a full-height basement, which is underutilized, providing rental upside for new owners. Recently completed in 2022, a substantial second-floor renovation has reinvigorated the building, marked by the installation of a new membrane roof and skylights, an upgraded HVAC system servicing the second-story common area, and the integration of new mini-split systems across all residential units. This meticulous transformation includes revealing the original brick facades, installing new flooring, new kitchens, and updating bathrooms. Simultaneously, modernization efforts extended to include extensive plumbing and electrical upgrades, energy efficiency through attic insulation, and the installation of a fully integrated fire alarm system, which communicates with the local fire department. Each commercial space and the three long-term residential units are currently leased, with six commercial units and one long-term residential unit currently subject to leases below market rates, affording new owners additional upside opportunities. The listing Agent must accompany any showings. Showings are only available to qualified buyers. DO NOT DISTURB TENANTS. Financials and leases can be provided with a signed NDA; see associated docs for NDA.
-
0BEDS
-
0.24ACRES
-
0BATHS
-
01/2 BATHS
-
24,900SQFT
-
$219$/SQFT
School Ratings & Info
Description
An exceptional investment opportunity presents itself with this extensively renovated, income-generating mixed-use property within Livingstons vibrant downtown core. Erected in 1906, the historically significant Montana Block Building is an iconic fixture along Main Street. Architectural Digest acknowledges Livingston as the 19th most beautiful Main Street in America. Encompassing 24,900 square feet, the main floor comprises eight distinct retail spaces, complemented by an ancillary workshop area, with garage door access via the ally, concealed behind one of the retail units, and an office space currently used for short-term rental supply storage. Ascending to the second floor reveals thirteen residential units, comprising a mix of six studios and seven one-bedroom units. Three units maintain long-term lease agreements, while ten units offer fully furnished, short- to medium-term rentals. The sale of the property includes the conveyance of all furnishings and supplies. The building incorporates a full-height basement, which is underutilized, providing rental upside for new owners. Recently completed in 2022, a substantial second-floor renovation has reinvigorated the building, marked by the installation of a new membrane roof and skylights, an upgraded HVAC system servicing the second-story common area, and the integration of new mini-split systems across all residential units. This meticulous transformation includes revealing the original brick facades, installing new flooring, new kitchens, and updating bathrooms. Simultaneously, modernization efforts extended to include extensive plumbing and electrical upgrades, energy efficiency through attic insulation, and the installation of a fully integrated fire alarm system, which communicates with the local fire department. Each commercial space and the three long-term residential units are currently leased, with six commercial units and one long-term residential unit currently subject to leases below market rates, affording new owners additional upside opportunities. The listing Agent must accompany any showings. Showings are only available to qualified buyers. DO NOT DISTURB TENANTS. Financials and leases can be provided with a signed NDA; see associated docs for NDA.
© 2023 Big Sky Country MLS. All rights reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but is not guaranteed accurate by the MLS or Gallatin Realty Group. Data last updated: 2023-12-09T22:51:59.693.