1150 E 3rd Ave, Durango, CO 81301

Live in the heart of Durango in this gorgeous tree-lined neighborhood. Built in 1896, this charming brick Victorian triplex is located on historic 3rd Avenue, where residents enjoy a desirable downtown lifestyle within walking distance to restaurants, shopping, parks and trails, and Fort Lewis College. There are 3 units total in this offering, a 2 bedroom 1 bath unit in front and two 1 bedroom 1 bath units in back, with a detached storage building. The interior of all 3 units has just been freshly painted and were extensively updated in 2004. This property is legally zoned duplex/triplex and has a 37.5 ft. x 100 ft. sized lot. UNIT 1: front facing, ground floor apartment is 615 sq. ft. and has two bedrooms and one bath, with original wood floors, exposed brick and door hardware, retro kitchen, and original tiled fireplace (inoperable). Beautiful picture window faces 3rd Avenue. Rented from $1050 to $1400/month in the past plus gas and electricity. UNIT 2: Entrance in back of home, up 1/2 flight of stairs, 461 sq. ft., one bedroom and one bath, exposed brick walls, cozy kitchen, gas heat. Rented for $950/month plus gas and electric. Unit 3: Entrance in back on top floor of home, 422 sq. ft., one bedroom and one bath, spacious unit with windows on 3 sides. Rented for $975/month plus electric and gas. The partially fenced backyard has mature trees and grass and a small patio area to enjoy the outdoors, with a pedestrian door to the storage/garage building in back. The shared laundry room is located in the basement and is accessible to all units through the back enclosed hallway. Electric meters are separate for each unit. Parking is on 3rd Avenue (on-street) with wide streets and sidewalks. The buyer may be an investor, continuing to lease all 3 units, or the buyer could consider living in one of the units and lease the others as supplemental income. With the high demand for housing, particularly downtown, this property is a rare find and an excellent investment opportunity to bring the rents up to market value. The units are vacant so the buyer can lease them right away if desired, or a potential buyer might be interested in reconfiguring the property back into a single family home. Great opportunity in one of the most desirable locations in Durango.