Active

1392 E River

Pray MT, 59065

$2,600,000


Active

Multi-family

Built in 2019

Take a look at this historic, investment dream-property in the heart of Paradise Valley, just north of Yellowstone's only year-round entrance. Located just a few minutes from famous Chico Hot Springs and Emigrant, and a short drive to Yellowstone, while also a comfortable distance from Livingston/Bozeman. This property has it all: Breathtaking Montana views nestled near the foot of the Absaroka-Beartooth Wilderness with a dozen or more mountain peaks over 10,000 in sight. This property also has a diverse rental income history, with room to explode rental income by taking advantage of new septic approvals for 8 cabins+ in the 3 acre unzoned field out back, 4 beautiful and modern STR units making excellent income, 1 RV spot, 1 LTR unit, management in place, and a historic and well-known General Store with a solid commercial tenant on month to month lease. This is a property steeped in history of Montana's Wild West and Park County, and was a focal point for the local community in the early 1900's. You can learn more about the town and its previous owners by searching "Last Best Stories Owning Pray". This is a cash-flowing property that has plenty of room to grow, and a diversified income. This property boasts over $300k+ in rental income for 2023, higher projected income for 2024, and with $100k in booked reservations for 2025. The property is composed of 3 brand new Amish built log cabins with 2 beds, 1 bath on crawlspace foundations and outfitted for turnkey STR operations. There is a newish (2008) duplex, updated recently (2019) features 1 outfitted and turnkey STR, and 1 LTR, on slab. Between the cabins and duplex is a US Post Office which draws traffic to the location, and whose lease renews every 5 years. Then, there is the General Store, a historic 1900's icon of Paradise Valley, which has a new lease as of the 3rd quarter of 2024. Tenant will be a bookshop/antique business. And finally, out back, there are an additional 3 acres of unzoned land with septic design approvals for an additional 8 cabins. Or you can redevelop that however you wish! The land out back is really a blank canvas waiting for the next ambitious owner to take the reins, and grow this property's income. PnL, projections, septic designs, and more, available for you and your CPA with a signed NDA and proof of funds. No owner financing. Listing agent has lease a month to month lease on General Store.

396781

MLSⓇ ID

September 17, 2024

Listed

October 14, 2024

Updated

Map

1392 E River
Pray MT, 59065

Interior Features

Total Stories

2


Interior Features

Vaulted Ceiling(s)


Floor Description

Hardwood


Fireplace

No


Cooling

Yes


Cooling Description

Ceiling Fan(s), Varies by Unit


Heating

Yes


Heating Description

Baseboard, Electric

Exterior/Building Features

Lot Size

5 Acres


Exterior Features

Garden, Gravel Driveway


Lot Features

Lawn


Architectual Style

Contemporary, Custom


Roof

Metal

Other Property Details

Area Name

Park County


Taxes

$6,602


Tax Frequency

Annually


Days on Market

4


Garage

No


Parking

Assigned, Common, Gravel, Paved


View

Yes


View Description

Farmland, Meadow, Mountain(s), Rural, Southern Exposure, Valley, Trees/Woods


County

Park


Water Source

Well


Pool

No

 

Courtesy of Michael Rutkowski, eXp Realty, LLC

Based on information from Big Sky Country MLS. IDX information is provided exclusively for consumers’ personal, non-commercial use, that it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing, and that the data is deemed reliable but is not guaranteed accurate by the MLS. All properties are subject to prior sale, change or withdrawal, and may or may not be listed by the office/agent presenting the information. Neither listing broker(s) nor Cody Adams shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. 

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