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DOWNTOWN OURAY TRIPLEX! IMMEDIATE CASH FLOW $ 115 / 117 / 119 7th Ave 3 Unit Apartment Building $2,400,000 ($800,000/Unit) Ouray, CO 81427
INVESTMENT HIGHLIGHTS
- Move-in ready TRIPLEX on a big corner lot in downtown Ouray with flexible use and rental options
- Two 3 bedroom units (up/down duplex) PLUS a historic stand-alone cottage with tons of character
- Current primary use of the triplex is Short-Term Rental -- approx. $110k in gross rental revenue in 2024 and $130k in 2023
- Avoid expensive and lengthy new construction -- start enjoying and earning rental income immediately
EXECUTIVE SUMMARY
Rare Opportunity in Downtown Ouray: The Mission Rock Triplex
A Historic Gem Reimagined
Three Residences. One extraordinary gated compound.
Immediate cash flow with proven rental income, strong appreciation potential in downtown Ouray, and multiple exit strategies for investors.
Mission Rock Triplex is composed of TWO spacious 3 bedroom / 2 bathroom units in an up/down duplex format, PLUS a charming historic (c.1900) free-standing Cottage.
The upper 3-bedroom has vaulted ceilings and south facing windows and deck looking at Mt. Abrams. Outside of the office loft, all livable square footage is on one level.
At over 2000 livable square feet, the street level 3-bedroom is larger than many houses in town. All livable square footage is on one level,
Flexible use scenarios exist for the new owner --
Sell off individual units and charge those owners HOA dues
Rent the units (short or long term) in a variety of configurations, or
Keep the whole thing for private use
Today all 3 units are active Short-Term Rentals with STR Licenses from the City of Ouray with actual rental histories on file -- inquire for details with Listing Broker.
The Mission Rock is a complete renovation and historic adaption of one of Ouray's early single-family homes with appurtenant guest house. The original stone walls of the house and the guest house are in use today. The up/down duplex could be refashioned into a 6 bedroom / 4 bathroom single-family house of over 3500 livable square feet.
117 7th Avenue is street-level 3 bed / 2 bath / 2070 s.f.
119 7th Avenue is upper-level vaulted ceiling 3 bed / 2 bath / 1 office loft with a deck / 1454 s.f.
115 7th Avenue is the historic 1 bed / 1 bath / 1 loft / 761 s.f. Cottage.
Premier gated 8200 s.f. corner lot with stone walls.
There are no HOA dues currently. The owners today were the ones who transformed the Mission Rock in 2005, so they don't need to charge themselves HOA dues. If the Mission Rock owner sold off units, those new unit owners could be charged HOA dues to help mitigate monthly expenses.
Call/text/email today to learn more about Mission Rock.
Visit www.missionrockouray.com to see a virtual tour of the interiors.
————————
Visit www.missionrockouray.com to view a virtual tour of the interiors.
Thank you,
--Jay
Jason K. Raible
LIV Sotheby's International Realty / Telluride
970-729-0720
jay@telluride-colorado.com
A Historic Gem Reimagined
Three Residences. One extraordinary gated compound.
Immediate cash flow with proven rental income, strong appreciation potential in downtown Ouray, and multiple exit strategies for investors.
Mission Rock Triplex is composed of TWO spacious 3 bedroom / 2 bathroom units in an up/down duplex format, PLUS a charming historic (c.1900) free-standing Cottage.
The upper 3-bedroom has vaulted ceilings and south facing windows and deck looking at Mt. Abrams. Outside of the office loft, all livable square footage is on one level.
At over 2000 livable square feet, the street level 3-bedroom is larger than many houses in town. All livable square footage is on one level,
Flexible use scenarios exist for the new owner --
Sell off individual units and charge those owners HOA dues
Rent the units (short or long term) in a variety of configurations, or
Keep the whole thing for private use
Today all 3 units are active Short-Term Rentals with STR Licenses from the City of Ouray with actual rental histories on file -- inquire for details with Listing Broker.
The Mission Rock is a complete renovation and historic adaption of one of Ouray's early single-family homes with appurtenant guest house. The original stone walls of the house and the guest house are in use today. The up/down duplex could be refashioned into a 6 bedroom / 4 bathroom single-family house of over 3500 livable square feet.
117 7th Avenue is street-level 3 bed / 2 bath / 2070 s.f.
119 7th Avenue is upper-level vaulted ceiling 3 bed / 2 bath / 1 office loft with a deck / 1454 s.f.
115 7th Avenue is the historic 1 bed / 1 bath / 1 loft / 761 s.f. Cottage.
Premier gated 8200 s.f. corner lot with stone walls.
There are no HOA dues currently. The owners today were the ones who transformed the Mission Rock in 2005, so they don't need to charge themselves HOA dues. If the Mission Rock owner sold off units, those new unit owners could be charged HOA dues to help mitigate monthly expenses.
Call/text/email today to learn more about Mission Rock.
Visit www.missionrockouray.com to see a virtual tour of the interiors.
————————
Visit www.missionrockouray.com to view a virtual tour of the interiors.
Thank you,
--Jay
Jason K. Raible
LIV Sotheby's International Realty / Telluride
970-729-0720
jay@telluride-colorado.com
FINANCIAL SUMMARY (ACTUAL - 2024) |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$110,000
|
$22.34
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$110,000
|
$22.34
|
| Taxes |
$7,285
|
$1.48
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$7,285
|
$1.48
|
| Net Operating Income |
-
|
-
|
FINANCIAL SUMMARY (ACTUAL - 2024)
| Gross Rental Income | |
|---|---|
| Annual | $110,000 |
| Annual Per SF | $22.34 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $110,000 |
| Annual Per SF | $22.34 |
| Taxes | |
|---|---|
| Annual | $7,285 |
| Annual Per SF | $1.48 |
| Operating Expenses | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses | |
|---|---|
| Annual | $7,285 |
| Annual Per SF | $1.48 |
| Net Operating Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
PROPERTY FACTS
AMENITIES
UNIT AMENITIES
- Fireplace
- Washer/Dryer
- Vaulted Ceiling
- Views
- Deck
- Mother-in-law Unit
- Patio
- Large Bedrooms
SITE AMENITIES
- Courtyard
- Fenced Lot
- Laundry Facilities
- Furnished Units Available
- Guest Apartment
- Vintage Building
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 7+5 | 3 | - | 4,285 |
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DOWNTOWN OURAY TRIPLEX! IMMEDIATE CASH FLOW $ | 115 / 117 / 119 7th Ave
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