Locust Road Schoolhouse 2091 Locust Rd 4 Unit Apartment Building $1,200,000 ($300,000/Unit) 7% Cap Rate Montrose, CO 81401

Discover a rare multifamily investment opportunity in the heart of Montrose, Colorado. 2091 Locust Drive is a well-maintained property zoned R-4 High Density Residential, the city’s most flexible residential designation, which allows for a wide range of multifamily uses and provides significant long-term development potential.
This property currently features multiple rental units with established tenancy, offering stable cash flow from day one. Each unit is thoughtfully designed with private entrances, functional floorplans, and the convenience of off-street parking. The layout supports tenant privacy and easy living while allowing for efficient management. With Montrose’s strong demand for rental housing, this asset is well-positioned to remain a consistent performer in an increasingly supply-constrained market.
The location is one of the property’s strongest features. Tenants benefit from a central setting just minutes from downtown Montrose, Montrose Regional Airport, schools, shopping, dining, and medical services. Outdoor recreation is close at hand with nearby parks, walking trails, and the Uncompahgre River corridor. Residents enjoy a balance of small-town community lifestyle with easy access to world-class amenities in Telluride, Ouray, and the San Juan Mountains.
For investors, Montrose represents one of Colorado’s most promising growth markets. The city continues to attract new residents seeking quality of life, affordability, and year-round recreation. Vacancy rates remain historically low, while demand for workforce and multifamily housing continues to rise. Zoned R-4, 2091 Locust Drive not only offers immediate income but also the flexibility to pursue additional units, redevelopment, or expansion in the future, subject to city approval.
Investment Highlights
- R-4 High Density Residential zoning — flexible for multifamily and redevelopment
- Multiple units with established tenancy providing immediate cash flow
- Off-street parking and private unit entrances
- Prime location near downtown, schools, shopping, and Montrose Regional Airport
- Strong tenant demand and historically low vacancy rates in Montrose
- Positioned for long-term upside with growth in population and housing needs
Whether you are expanding an existing portfolio or entering the multifamily investment space, 2091 Locust Drive offers a rare opportunity to secure a performing asset with both current income and future growth potential.