1392 E River , Pray, MT 59065
Pray, MT 59065
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 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.
Details
| MLS# | 396779 |
|---|---|
| Listing Type | For Sale |
| Sub-Type | Resale |
| Status | Active |
| Year | 1900 |
| Days On Site | 18 |
| Listing Provided By | eXp Realty, LLC | Michael Rutkowski |
Features
| SQ Feet | 6,396 |
|---|---|
| Zoning | NONE - None/Unknown |
| Acreage | 5.00 |
Market Activity 59065
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Learn More About This Property
| State | MT |
|---|---|
| County | Park |
| City | Pray |
| Zip Code | 59065 |
| Area | Park County |
| Subarea | 6PVE Liv Area Paradise Valley E of 89S |
| Listing VS Median (in 59065) | |
Price: $2,600,000 low | high Med: $2,135,000 SqFt: 6,396 low | high Med: 3,147 $ / SqFt: $407 low | high Med: $736 On Site: 18 low | high Med: 247.000000 | |