1392 E River
Pray, Montana 59065
MLS #396781 | $2,600,000Listing Details
- 5Acres
- $2,600,000Price
Take a look at this historic, investment dream-property in the heart of Paradise Valley, just north of Yellowstones 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 Montanas Wild West and Park County, and was a focal point for the local community in the early 1900s. 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 1900s 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 propertys 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.
Click any image to view all 97 images of this property.
Additional Features
- Architectural Style
Contemporary, Custom - Builder Name
Mill Canyon Cabins - City
Pray - Construction Materials
Asbestos, Log - Contract Status Change Date
2024-09-16 - Cooling
Ceiling Fans, Varies By Unit - Cumulative Days On Market
4 - Directions
South of Mill Creek Intersection, and north of Chico on East River Rd. Cant miss it. - Documents Count
11 - Exclusions
Accoutrements of Commercial Tenant in General Store, list available upon request - Fencing
Barbed Wire, Cross Fenced, Partial - Flooring
Hardwood - Heating
Baseboard, Electric - Heating
Yes - Interior Features
Vaulted Ceilings - Latitude
45.380067 - Levels
Two - Listing Contract Date
2024-09-16 - Listing Key
1086860947 - List Price
2600000 - Longitude
-110.680876 - Lot Features
Lawn - Lot Size Acres
5.00000 - Lot Size Square Feet
217800 - MLS Area Major
Park County - MLS Area Minor
6 P V E - Liv Area - Paradise Valley E of 89 S - MLS Status
Active - Original List Price
2600000 - Originating System Name
S W M T - Other Structures
Storage, Workshop - Ownership
Full - Parcel Number
0006926000 - Parking Features
Assigned, Common, Gravel, Paved - Patio And Porch Features
Covered, Deck - Photos Count
97 - Postal Code
59065 - Property Sub Type
Multi Family - Property Type
Residential Income - Road Surface Type
Paved - Roof
Metal - Standard Status
Active - Stories
2 - Subdivision Name
None - Tax Annual Amount
6602 - Tax Legal Description
S25, T05 S, R08 E, METES & BOUNDS AS DESCRIBED IN V73-241 & SHOWN ON PLAT 196 - Tax Year
2023 - Unparsed Address
1392 E River - Utilities
Cable Available, Electricity Available, Electricity Connected, Propane, Phone Available, Water Available - View
Farmland, Meadow, Mountains, Rural, Southern Exposure, Valley, Trees Woods - View
Yes - Waterfront Features
None - Water Source
Well - Year Built
2019
Contact So Red About This Listing
Listing Provided By eXp Realty, LLC, Michael Rutkowski
Information provided by Big Sky Country MLS is compiled from miscellaneous sources. Neither the Association, listing brokers, agents or subagents are responsible for its accuracy. MLS users should be advised and should advise prospective purchasers to verify all information regarding the property by their own independent investigation prior to submitting an offer to purchase the property.
