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20310 Highway 160
Durango, CO 81303
Lightner Creek Condominiums · Multifamily Property For Sale
·
35 Units
Property Facts
| No. Units | 35 | Building Size | 29,013 SF |
| Property Type | Multifamily | Average Occupancy | 100% |
| Property Subtype | Apartment | No. Stories | 3 |
| Apartment Style | Low-Rise | Year Built | 2008 |
| Building Class | B | Parking Ratio | 2.07/1,000 SF |
| Lot Size | 6.29 AC | ||
| Zoning | Multifamily Residential | ||
| No. Units | 35 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | B |
| Lot Size | 6.29 AC |
| Building Size | 29,013 SF |
| Average Occupancy | 100% |
| No. Stories | 3 |
| Year Built | 2008 |
| Parking Ratio | 2.07/1,000 SF |
| Zoning | Multifamily Residential |
Amenities
Unit Amenities
- Air Conditioning
- Balcony
- Cable Ready
- Dishwasher
- Washer/Dryer
- Heating
- Tile Floors
- Kitchen
- Refrigerator
- Oven
- Range
- Carpet
- Wi-Fi
- Deck
- Double Pane Windows
- Window Coverings
Site Amenities
- 24 Hour Access
- Controlled Access
- Picnic Area
- Cabana
- Wi-Fi
- Storage Space
- Elevator
About 20310 HIGHWAY 160 , DURANGO, CO 81303
The Lightner Creek Apartments include 35 apartment units (10-Studio, 13-1Br/1Ba, 12-2Br/1Ba) in condominium quality construction. The community has been operated as an apartment building since it was constructed in 2008, but each unit is already deeded and platted for individual condo sale should a future owner choose to go that direction. All units within the community are owned by the same entity, so there are no issues with fractured home owners association or individual condo owners in the same community. There are also 12 large garage stalls and 15 storage units above those stalls producing additional income. The property has high historical occupancy due to limited supply of apartment product in Durango. The Seller is in the process of adding water metering to bill back to tenants and further improve income. We believe there is upside in this deal in rents day 1, as well as the option of selling the units individually if an alternate exit strategy is needed. All units have washer/dryer for tenant use, private balconies and offer tenants keyed entry to the two elevators in the property. The asset is located just outside of Downtown Durango, along Lightner Creek, with quick access to everything around Durango.
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 10 | - | 496 |
| 1+1 | 13 | - | 608 |
| 2+2 | 12 | - | 881 |
