Set on more than 2.5 acres in the heart of Paradise Valley, this property is surrounded by sweeping views of the Absaroka Mountains and the Yellowstone River valley. Conveniently located about 28 miles from Livingston and 36 miles from Yellowstone National Park, it offers year-round access and immediate proximity to world-class fishing, hiking, and endless outdoor recreation. The multi-level parcel presents several building sites, with power nearby and a well already in place—ready for your vision to take shape. Adding to its uniqueness is a 900+ square-foot underground shelter, situated approximately 10 feet below grade. Originally constructed in 1989 to FEMA specifications, it features reinforced blast doors and shutters, a Swiss Loja filtration system, and is equipped with an oven, refrigerator, washer/dryer, bunk beds, and generator, with hookups for both electric and solar power. While the shelter has not been in use for some time and will require updating, it offers incredible versatility—whether restored for its original purpose, transformed into a wine cellar, or incorporated into a geothermal heating and cooling system for a future home. Located within the South Glastonbury subdivision, property owners enjoy private access to the national forest. The setting is truly remarkable, with panoramic views that include Emigrant Peak to the east, Dome Mountain to the southeast, and Tom Minor Basin, Sawtooth and Ramshorn Peaks to the south. This is a rare opportunity to own a piece of Paradise Valley—combining natural beauty, privacy, and unique features with long-term potential. Whether you’re planning to build your dream home or invest in a one-of-a-kind property, the possibilities here are many. Owner offering financing.