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.