Historic Stephens Hotel (Kaiser House Annex, c. 1890) at 118 N Montgomery Street in the Philipsburg National Register Historic District — one-half block off Broadway. Rare shovel-ready rehabilitation: architectural and civil plans are final and State-permitted. Pull the permit and begin. The three-story brick landmark has been stripped and re-framed for mixed use. Street level is designed as a coffee house and retail gallery plus an approximately 19x21 professional office, with shared laundry and mechanical. Ten independently keyed residences range from 420 SF one-bedrooms to a 1,625 SF three-bedroom owner's suite with fireplace and crow's-nest access. First-floor ceilings approximately 15'; levels two and three approximately 12'. Mansard fourth-floor structure and dormers already in place. City water and sewer stubbed to the street. About 9,400–10,000 SF of building on ±0.21 acre (Original Townsite Block 6, Lots 11–13). As a contributing historic-district building offered for income-producing use, the project is structured for stacked historic rehabilitation tax credits: 20% federal and 5% Montana on qualifying hard and soft costs (combined 25% of QRE). Depending on finish level, estimated credits are about $600,000 to $1,000,000. Credits are certification- and cost-dependent. Views toward Discovery Ski Area; walk to the Sweet Palace, Philipsburg Brewing Company, sapphire shops, the Opera House Theatre and downtown Broadway. Operate as condos, long-term rentals, a boutique inn, or a hybrid serving ski and main-street tourism. Exterior concept restores the STEPHENS HOTEL sign band, coffee/hotel entries, terrace seating and on-site parking. Offered at $1,150,000 with the permitted plan set. Buyer to verify square footage, utilities, remaining permit conditions, historic-tax-credit eligibility and all other due diligence items.