1392 E River Pending Save Request In-Person Tour Request Virtual Tour
Pray,MT 59065
Key Details
Property Type Multi-Family
Sub Type Multi Family
Listing Status Pending
Purchase Type For Sale
MLS Listing ID 396781
Style Contemporary, Custom
Year Built 2019
Annual Tax Amount $6,602
Tax Year 2023
Lot Size 5.000 Acres
Acres 5.0
Property Sub-Type Multi Family
Property Description
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.
Location
State MT
County Park
Area Park County
Direction South of Mill Creek Intersection, and north of Chico on East River Rd. Can't miss it.
Interior
Interior Features Vaulted Ceiling(s)
Heating Baseboard, Electric
Cooling Ceiling Fan(s), Varies by Unit
Flooring Hardwood
Fireplace No
Exterior
Exterior Feature Garden, Gravel Driveway
Parking Features Assigned, Common, Gravel, Paved
Fence Barbed Wire, Cross Fenced, Partial
Utilities Available Cable Available, Electricity Available, Electricity Connected, Propane, Phone Available, Water Available
Waterfront Description None
View Y/N Yes
Water Access Desc Well
View Farmland, Meadow, Mountain(s), Rural, Southern Exposure, Valley, Trees/ Woods
Roof Type Metal
Street Surface Paved
Porch Covered,Deck
Building
Lot Description Lawn
Entry Level Two
Builder Name Mill Canyon Cabins
Water Well
Architectural Style Contemporary,Custom
Level or Stories Two
Additional Building Storage,Workshop
Others
Tax ID 0006926000
Ownership Full
Acceptable Financing Cash,3rd Party Financing
Listing Terms Cash,3rd Party Financing
Special Listing Condition None