Absarokee 4-Unit — Live, Rent & Host
Multifamily | 4 Units | $93,750/unit
Marketing description
Rare four-unit income portfolio in the heart of Absarokee, Montana, the gateway to the Beartooth Highway, world-class fly fishing on the Stillwater River, and the Beartooth Range. Offered at $375,000 with a gross rent multiplier of 9.7 on $38,695 in documented annual income.
The property includes two operational Airbnb short-term rentals and two long-term tenants on a single 0.43-acre parcel, one block off Main Street. Both Airbnb listings carry Guest Favorite status: the Absarokee Cozy Cottage (4.88 stars, 199 reviews) and the Absarokee Cozy Cabin (4.97 stars, 30 reviews). All furnishings, equipment, and active listings transfer with the property. A buyer steps into an operating business with booking history and established guest reviews on day one.
The primary value-add is straightforward: two long-term tenants are currently paying well below Absarokee market rates. Re-leasing at market at natural lease renewal — no evictions, no construction, no capital — adds an estimated $10,680 to $14,400 in annual gross income and pushes the cap rate from approximately 4.6% today to 7.4% or higher. All four units are currently occupied, so income begins immediately at closing.
The property has seen consistent capital investment across all four units: new well pump (2026), new furnace (2022), foundation and step work (2023), full appliance package including Samsung W/D (2023), walk-in tile shower conversion (2021), gutters (2023), and a full STR conversion with updated finishes. Active water right 43C 4935-00 (Priority: December 31, 1955, 25 GPM groundwater well) transfers with the property.
Professional property management is in place at 10%; a self-managing buyer eliminates this expense entirely. Current LTR tenants may have interest in on-site cleaning and maintenance. Financing is limited to cash or commercial/portfolio lending — no conventional, FHA, or VA. Complete financials including two years of P&L statements, operating expense detail, lease copies, and supporting documents are available to qualified buyers upon request.
Investment highlights
Rare 4-unit income property on 0.43 acres in the heart of Absarokee. Mix of short-term and long-term rentals: (12) charming 1BR Airbnb cottage (4.88 stars, 336 sqft, built 1943), (14) 2BR/1BA house (1,104 sqft, built 1942, LTR $540/mo), (16)1BR Airbnb cabin (4.97 stars, built 2020), and (18)3BR/2BA mobile home (LTR $550/mo). Strong rental history with established Airbnb reviews. Ideal investment in a sought-after small town setting near the Stillwater River, Absarokee Beartooth Wilderness, Red Lodge Ski Resort, Stillwater Mine and more offering diverse industry and tenant sources.
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