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Dawn Maddux

Engel & Völkers Americas

dawn.maddux@evrealestate.com +1(406) 550-4131

$ 2,600,000

Est. payment -/mo

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Pending

1392 E River Pray, MT 59065

5 Acres Lot

UPDATED:

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

Listed by eXp Realty, LLC

Dawn Maddux

License Partner | Global Private Office Advisor

+1(406) 550-4131

Dawn Maddux

1392 E River Pray, MT 59065

Key Details

Location

Interior

Exterior

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Others

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1392 E River