Located on the north shore of Ennis Lake in McAllister, Montana, this legacy property presents a rare opportunity to acquire just over 2,700+/- acres in one of Montanas most desirable valleys. The offering combines lake frontage, agricultural production, equestrian infrastructure, conservation or development potential, and a fully operational commercial component. Showing by appointment only.A working ranch with residential, livestock, and infrastructure elements in place, Lost Heart Ranch anchors the entire offering. It is subdivided into 46 legal parcels, making if a great candidate for a conservation easement, possible development, and generational use. Includes 2,500 SF 4BD/3BA main residence (1994), 2,400 SF equipment shop with attached 2BD/1BA residence (2004), 3,100 SF livestock barn, 115 acre hayfield with pivot, and 1400 feet of lake frontage.A rare, turnkey 23.18 acre equestrian facility located on the lake, this component of the offering includes a 6,344+/- SF luxury home with a pool and full horse infrastructure.The commercial asset of this property, Lake Shore Lodge offers a strong base for hospitality, storage, and lakefront access with expansion potential. Features 42 full-service RV sites (50 amp), office/store and bathhouse with laundry, 3 dry cabins and 3 additional 4 season rental cabins, marina with 10 docks and seawall. 2 drain fields and 7 holding tanks with room for expansion. Excellent potential for income generation or private estate repurposing.With panoramic views in every directionLone Peak to the east, the Centennial Mountains to the south, and the rugged Tobacco Root Mountains to the westthe property features diverse topography including productive pasture, riparian corridors, and juniper-covered hillsides. Comprising three primary componentsLost Heart Ranch, Lake Shore Equestrian Estate, and Lake Shore Lodgethis property supports year-round ranching, recreation, and income generation, all just minutes from Ennis and under an hour to Bozeman.