Ask Brooke Snyder
"Discover a fantastic investment opportunity in beautiful Gunnison, Colorado! This well-maintained multi-family property is situated on a spacious 1.57-acre lot and boasts three separate buildings, each containing four charming and spacious two-bedroom, one-bathroom units. Conveniently located close to downtown Gunnison and only minutes from Western Colorado University, residents will enjoy easy access to shops, restaurants, and local amenities, making this property highly desirable for tenants. The 9500+sqft of building space sits on over 68,000 sqft of land leaving tons of open space and the ability to add another building at 3100+ sqft that would give you sixteen rentable units.The property features mature landscaping and a huge courtyard making these units secluded and give them a nice homey feel. The opportunities for expansion and increased rental income abound on this property. Built in 1982, this property has stood the test of time and has been meticulously maintained throughout the years. Each unit offers comfortable living spaces, a stackable washer/dryer, wood burning stoves and plenty of natural light, creating a warm and inviting atmosphere for residents. This property is immediately income producing priced below replacement cost making this an excellent investment opportunity for savvy investors or those looking to supplement their income. Whether you're an experienced investor or a first-time buyer, this multi-family property offers great potential for both financial growth and stability. Want to guarantee your employees will always have housing and generate income at the same time? This is it and properties like this rarely come along. Owners are the original developers of this property so a very rare opportunity in Gunnison County. This property has been owner occupied to a degree and rented by longterm tenants for under market rates. With minimal updating these units should be renting around $2300-$2500 a month which would make this property generate around $360,000 a year and after expenses and maintenance give this an impressive cap rate around 9% Don't miss out on this incredible chance to own a well-appointed multi-family property in a prime location. Schedule a showing today and see the possibilities that await!"
All information should be independently reviewed and verified for accuracy. IDX information is provided exclusively for consumers' personal, noncommercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information current as of December 4, 2023 at 12:00:00 AM UTC.
Listed By: Joe Garcia of Coldwell Banker Mountain Properties