409 S Grand Avenue, Bozeman, MT 59715

Property Description

A rare offering in Bozeman's coveted Bon Ton Historic District — built in 1902 and thoughtfully converted into five income-producing apartments on one of the most walkable blocks south of Main Street. Tree-lined streets, historic mansions, and the city's most architecturally distinguished residential corridor define the address. Downtown Bozeman, Montana State University, Cooper Park and various trail systems are all within an easy stroll or short bike ride. Set on an 8,400+ square foot lot in the heart of the historic core, the property delivers what the Bozeman market almost never offers in one package: an irreplaceable in-town location, a stabilized rent roll, and a meaningful redevelopment path. The five-unit configuration produces consistent income with rents currently positioned below market — a built-in lever for the next owner to realize immediate upside through routine turnover and modernization, without speculative assumptions. Beyond the in-place cash flow, the long-term value sits in the land. Bozeman's historic neighborhoods near downtown have become the city's most contested and sought-after development ground, and the Bon Ton has been repeatedly cited by city planners as a model of the "missing middle" density Bozeman is actively encouraging. The lot's location, dimensions, and existing multi-unit use position the property as one of the rare in-fill opportunities in Bozeman's most desirable submarket — a hold-for-yield asset today, with optionality for the next owner to reimagine the site. Opportunities like this on one of the most prestigious blocks in Bozeman don't come around that often.

Listing Status:

Active

Data Last Updated:

May 20, 2026 at 9:15PM

Listing Office:

The Agency Bozeman : 406-551-2345

Listing Agent:

Jeremy Seglem : (406) 404-9404

MLS ID:

411242

Interior

• A/C: Varies by Unit
• Heating: Forced Air

Construction

• General: 3

Location

• Originating MLS: SWMT_BSC
• County: Gallatin

Lot

• Zoning: FAIRVIEW ADDS07T02 SR06 EBLOCK 3LOT 4 - 5ACRES 0.193PLAT C-3RGH5921
• Fencing: Partial

Utilities

• Utilities: Electricity ConnectedNatural Gas AvailableSewer AvailableWater Available
• Water: Public
• Sewer: Public Sewer

Financial

• Source: SWMT_BSC