115 / 117 / 119 7th Ave - Apartments FOR SALE


Ouray, CO 81427
$2,400,000 USD
970-729-0720
115 / 117 / 119 7th Ave, Ouray, CO for Sale
$2,400,000 USD
Apartments - FOR SALE
1/15
null | Request Cap Rate

115 / 117 / 119 7th Ave
Ouray, CO 81427


HIGHLIGHTS

  • Move-in ready TRIPLEX on a big corner lot in downtown Ouray with flexible use and rental options
  • Current primary use of the triplex is Short-Term Rental -- approx. $110k in gross rental revenue in 2024
  • Two 3 bedroom units (up/down duplex) PLUS a historic stand-alone cottage with tons of character
  • Avoid expensive and lengthy new construction -- start enjoying and earning rental income immediately

OVERVIEW

Rare Opportunity in Downtown Ouray: The Mission Rock Triplex Address: 115, 117, 119 7th Avenue www.missionrockouray.com A Historic Gem Reimagined Discover an exceptional investment or private retreat in the heart of Ouray, Colorado—a rare residential triplex offering short-term rental (STR) licenses, no HOA dues, and lots of use flexibility for the new owner. Occupying a large downtown gated corner lot with a central courtyard, this unique property seamlessly blends historic charm and modern convenience. -- PROPERTY HIGHLIGHTS -- Three Independent Units: * 117 7th Avenue (#2): Spacious 3-bed, 2-bath, 2,070 sq. ft. residence with 225 sq. ft. of storage. * 119 7th Avenue (#1): Upper-level 3-bed, 2-bath unit with a loft, vaulted ceilings, and 1,454 sq. ft. of living space. * 115 7th Avenue (#3): Stand-alone historic cottage (c. 1900) featuring 1 bed, 1 bath, a loft, and 761 sq. ft. of character-filled space. * Zoning for Short-Term Rentals: One of the few downtown properties with approved zoning for STRs, offering three streams of potential rental income. * Flexible Use Potential: Options to sell individual units, lease for vacation rentals, or maintain the property as a private, multi-residence compound. * Prime Downtown Location: Situated diagonally across from the iconic Western Hotel, this pedestrian-friendly location is just steps from Ouray's vibrant amenities—boutique shops, spas, breweries, fine dining, and renowned hiking trails. * A Rare Value Proposition: With a total of 4,285 livable square feet (per Assessor, $560/sq. ft.), Mission Rock represents a tremendous value when compared to the current cost of new construction. Move-in ready and bursting with charm, this property is a savvy investment opportunity or an idyllic retreat for the discerning buyer. Offered furnished at $2,400,000 To learn more or to schedule a tour, contact: Jason K. Raible LIV Sotheby’s International Realty 970-729-0720 jay@telluride-colorado.com Explore the property virtually at www.missionrockouray.com. Note: Livable square footage is a net "paint-to-paint" measurement, exclusive of structural elements.

FOR SALE DETAILS

PRICE

$2,400,000 USD

PRICE/SF

$488 USD /SF

# OF UNITS

3

PRICE/UNIT

$800,000

CAP RATE

Request Cap Rate

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Two 3-Bedroom Units PLUS Historic Cottage

PROPERTY TYPE

Multi-Family

PROPERTY SUBTYPE

Apartments

ADD'L SUBTYPES

Office/Residential, Dormitory

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

2006

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.19 AC

LAND SF

8,200 SF

ZONING

R-2

APN/PARCEL ID

-

ASK ABOUT THIS PROPERTY

Jason RaibleLiv Sotheby's International Realty - TellurideMore Info
970-729-0720

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Jason RaibleLiv Sotheby's International Realty - TellurideMore Info
970-729-0720

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.