470 Burns Ave., in Ignacio, Colorado, just 20 minutes south of Durango, is a stable multi family, income producing property. The property has six, two bedroom, one and one-half bath, 960 SF units. The apartment is centrally located in Ignacio and walking distance to schools, grocery store, restaurants, and more. Ignacio is the headquarters of the Southern Ute Indian Tribe which is currently the largest employer in La Plata County, and a multi faceted enterprise generating millions of dollars each year for La Plata and Archuleta Counties. Ignacio, and specifically 470 Burns Ave., offers affordable housing solutions for locals and their families. Operating at nearly 100% occupancy, 12 months out of the year, 470 Burns is a very stable investment opportunity offering an nearly 6.6% cap rate, making it a compelling investment alternative to treasury bonds or stocks. If interested, call your preferred local realtor for more information.
Ignacio is located in Colorado. Ignacio, Colorado has a population of 1,319. Ignacio is less family-centric than the surrounding county with 25.5% of the households containing married families with children. The county average for households married with children is 29.94%.
The median household income in Ignacio, Colorado is $58,450. 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 Ignacio is 37.1 years.
The average high temperature in July is 87.3 degrees, with an average low temperature in January of 10.5 degrees. The average rainfall is approximately 17.6 inches per year, with 51 inches of snow per year.
