Versatile duplex property located along North Main Avenue! This property offers a multitude of opportunities from the 1031 Exchange investor who would like to keep current tenants in place, to someone seeking to utilize the Main Avenue frontage for commercial or mixed use, to a complete redevelopment opportunity on a large 12,500 sq ft lot. Currently the property offers a generous parking lot, with the house hosting a main level 3-bedroom, 1 full bath rental, and lower level unit with an additional 3 bedrooms and 3/4 bath. The two rentals can be rented as one home, or separately with lock-off access, individual kitchens in place, and a shared back laundry room, accessible from both units. There is a non-conforming studio space on the north side. Great location just blocks away from Animas Mountain trailhead, Durango's Recreation Center, the Animas River Trail and River launch point, and walking distance to grocery stores and dining options.
Great opportunity for investors or for buyers looking for a large 2 story home downtown on the grid! Current configuration consists of two units, with the larger 1268 sf unit downstairs, and the smaller 704 unit upstairs. Downstairs there are 2 bedrooms, an office and one full bath, with a living room adjoining the dining room, which adjoins the large kitchen. Unit 1 has a bedroom in front, just off the living room, with the other bedroom and office in the back of the house, which opens to an enclosed back porch for storage and a huge fenced backyard. Unit 2 has a separate fenced side entrance to the staircase leading up to the unit. Here you will find a cozy 2 bedroom, 1 bath apartment. Both units have wood and tile flooring. There is a low maintenance metal roof, two storage sheds, and room to add off-street parking, with potential to add an additional unit or two to maximize your investment, subject to City of Durango guidelines and approval. The property borders the Parkside Terrace townhomes, and the upstairs unit is currently leased. There is so much potential here to add to an already great property in downtown Durango, in walking distance to the Animas River, Santa Rita Park, the dog park, and trails up to Fort Lewis College.
Offered at $1,850,000 with a 6% cap rate, this is a rare opportunity to own a six-unit multi-family investment property in the heart of downtown Durango. The property consists of a Victorian main home (built in 1895) featuring two apartments and a full 1300 SF basement plus a detached 4-plex (built in 1992) with a three-car garage and community laundry room. Each unit offers on-site parking, with a total of 7 dedicated parking spaces for tenant convenience. The property will bring in $11,100 in monthly income including rent from the 3 car garage and has benefited from recent capital improvements, including a new roof on the four-flex, HVAC systems, gas lines, and sewer updates. With MU-N mixed-use zoning and an unbeatable downtown location close to shops, restaurants, and public transit, this investment offers strong rental performance and excellent long-term flexibility. Perfect for a 1031 exchange or investor looking for an optimally located building. Zoning is MU-N Mixed Use. Per the City Planning Department, a business may be operated out of the property. Buyer to confirm requirements with the City. This is also in the Opportunity Zone. The parcel is a large double lot - hard to find in Durango!
Excellent location close to downtown and Fort Lewis College. Easy to keep rented. Fenced back yard and some off street parking. Priced at a 4.20% cap rate and $348,750/unit. 2023 and 2024 financials are available. Tenants pay all utilities.
Durango is located in Colorado. Durango, Colorado has a population of 18,953. Durango is less family-centric than the surrounding county with 26.66% of the households containing married families with children. The county average for households married with children is 29.94%.
The median household income in Durango, Colorado is $68,550. The median household income for the surrounding county is $75,089 compared to the national median of $69,021. The median age of people living in Durango is 36.5 years.
The average high temperature in July is 86.2 degrees, with an average low temperature in January of 12 degrees. The average rainfall is approximately 18.3 inches per year, with 67.4 inches of snow per year.
