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Live downtown, collect rent, and hold one of the most strategic land positions in central Bozeman. Offered together, 621 & 617 N Rouse Avenue include two separate parcels (6 lots) on approximately 0.48 acres with five rental units in a mix of configurations, tenants in place, and RA zoning. Set just outside the Cannery District with an easy walk to Main Street, downtown Bozeman restaurants, coffee shops, farmers markets, and parks, plus quick access to Bridger Bowl.

This income property works several ways. Investors get an income-producing multifamily (multi-family) investment property with day-one cash flow, a rent roll available upon request, value-add upside through improving the existing structures, and a strong 1031 exchange option. Owner-occupied buyers can house hack: live in one unit and let the rental income help cover the mortgage. Ask your lender about FHA, VA, and low down payment options. Separate entrances and separate kitchens support multigenerational (multi-generational) living with mother-in-law, in-law suite, and guest house flexibility. Employers can explore employee, staff, or seasonal workforce housing, along with mid-term rentals of 30 days or more, including traveling nurses near Bozeman Health. Builders and developers will see a rare infill development opportunity and land value play near downtown, with tenants covering holding costs while you plan your redevelopment. Co-buyers can share ownership, each claim a unit, and rent the rest.

City sewer and water, paved road access, tree views, and a walkable, central location that keeps getting better. Opportunities with this combination of location, acreage, rental income, and future flexibility are increasingly rare. Buyer and Buyer’s Agent to verify all information, including square footage, zoning, permitted uses, rental income, financing eligibility, redevelopment options, and city requirements. Units are occupied; please do not disturb tenants. Showings by appointment only.

• Acres
  0.48
• Days on Market
  67

Additional Features

• Appliances
  Range, Refrigerator, Dryer, Washer
• Architectural Style
  Craftsman
• Association Amenities
  Sidewalks
• City
  Bozeman
• Contract Status Change Date
  2026-08-17
• Cooling
  Ceiling Fans, Varies By Unit
• Cumulative Days On Market
  138
• Directions
  From Main Street, North on Rouse Ave
• Documents Count
  6
• Fencing
  Partial
• Fireplace Features
  Wood Burning Stove
• Flooring
  Other, Partially Carpeted, Tile
• Heating
  Baseboard
• Heating
  Yes
• Interior Features
  Wood Burning Stove, Window Treatments
• Latitude
  45.686473
• Levels
  Other
• Listing Contract Date
  2026-08-17
• Listing Key
  1182394847
• List Price
  2025000
• Longitude
  -111.032229
• Lot Features
  Lawn
• Lot Size Acres
  0.48000
• Lot Size Square Feet
  20909
• MLS Area Major
  Bozeman City Limits
• MLS Area Minor
  1 N E - Boz N of Main/ E of 19th
• MLS Status
  Active
• Original List Price
  2025000
• Originating System Name
  S W M T
• Ownership
  Full
• Parcel Number
  R G H5692
• Parking Features
  Common, Gravel, On Street
• Patio And Porch Features
  Covered, Patio
• Photos Count
  63
• Postal Code
  59715
• Property Sub Type
  Multi Family
• Property Type
  Residential Income
• Road Surface Type
  Paved
• Roof
  Asphalt, Shingle
• Security Features
  Heat Detector, Smoke Detectors
• Sewer
  Public Sewer
• Standard Status
  Active
• Subdivision Name
  Imes Addition
• Tax Annual Amount
  10181.00
• Tax Legal Description
  (IMES ADD, S06, T02 S, R06 E, BLOCK 43, LOT 1 - 3, ACRES 0.23999, PLAT C-41 LESS HWRW) (IMES ADD, S06, T02 S, R06 E, BLOCK 43, Lot 4 - 6, ACRES 0.241, PLAT C-41)
• Tax Year
  2025
• Unparsed Address
  621 & 617 N Rouse Avenue
• Utilities
  Electricity Available, Sewer Available, Water Available
• View
  Mountains, Trees Woods
• View
  Yes
• Waterfront Features
  None
• Water Source
  Public
• Window Features
  Window Coverings
• Year Built
  1956

Let me show you this listing!