115 7 AveOuray, CO 81427

Property Details for 115 7 Ave

Year built

2005

Property size (Sq ft)

4,285 SF

Property type

Investment properties

Property subtype

Multifamily properties

Description

This exceptional investment opportunity presents a rare triplex in downtown Ouray, Colorado. The property comprises three legally distinct residential units, each with a short-term rental license, offering significant income potential. Two units boast three bedrooms and two bathrooms, while a charming historic cottage provides a unique one-bedroom, one-bathroom option. The units are arranged around a central courtyard on a gated 8,200 square foot corner lot, providing ample space and privacy. The total square footage is 4,285, with a price per square foot of $560. Built in 2005 (with one historic unit circa 1900), the property features off-street parking and is conveniently located within walking distance of shops, restaurants, breweries, and hiking trails. Its R-2 zoning specifically permits short-term rentals, a highly desirable feature in this popular tourist destination. The property's flexible use scenarios allow for the sale of individual units, varied rental configurations, or use as a private compound. The central location, diagonally across 7th Avenue from the historic Western Hotel and Saloon, ensures high visibility and accessibility. This is a unique opportunity to acquire a high-yield, multi-unit property in a prime Ouray location. The asking price is $2,400,000.

Location Insight

City

Ouray

County

Ouray

State

Colorado

Latitude

38.0238

Longitude

-107.674

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