1392 E River
Pray, MT 59065

ACTIVE
$2,600,000

Listing Courtesy of Michael Rutkowski, eXp Realty, LLC

Listing #396779

6396

Square Feet

Building

Type

About this property

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 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.

property features

Location Information

MLS Area

Liv Area - Paradise Valley E of 89S

Subdivision

Longitude

-110.680855

Latitude

45.380007

Directions

North of Chico, south of Mill Creek intersection on E River Rd. Can't miss it!

INTERIOR FEATURES

Interior

Square Feet

6396

Bedrooms

Full / Half Baths

/ 0

Heating

Baseboard,Electric

Half Baths

0

Cooling

Floors

Laundry

Basement Description

Exterior FEATURES

Style

Stories

0

View Description

Exterior

Parking Description

Assigned,Common,Gravel,Paved

Garage Spaces

0

Lot Size in Acres

5

Water

Zoning

NONE - None/Unknown

Patio / Deck Description

Fencing

ADDITIONAL INFORMATION

Year Built

1900

Roof/Attic

Property SubType

Building

Amenities

© 2022 Big Sky Country MLS. All rights reserved.
This representation is based in whole or in part on data supplied by the Big Sky Country MLS. 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. All data is deemed reliable but is not guaranteed accurate.

Gallatin-BigSky-BSC data last updated at 2024-11-25 12:01:14 PM MT

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