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TBD S Hillcrest Drive 10.3 Acres of Commercial Land Offered at $1,500,000 in Montrose, CO 81401
Investment Highlights
- Located in a quiet, growing residential area
- 1.5 miles to historic downtown Montrose
- High-density multifamily zoning
- Utilities stubbed to lot / available in street
- 0.5 miles from Black Canyon Golf Course
Executive Summary
Ingress/Egress
Primary access via Pennsylvania Street
Secondary access via Oregon Street right-of-way (available upon completion)
Water Service
8-inch main line along Pennsylvania Street
8-inch stub service from Miami Road
Sanitary Sewer
8-inch gravity line flowing west on Pennsylvania Street
8-inch line extending through Oregon Street into adjacent development area
Electrical Service
DMEA-served territory
3-phase sectionalizer (southern site boundary): conversion to transformer required for service activation
Single-phase sectionalizer (Pennsylvania Street): available for northeast portion service
Natural Gas Service
2-inch polyethylene main line located on south side near Miami Road; available for tap connection
Note: Utility information provided for general reference. Buyers should independently verify all utility details and site conditions with applicable service providers and consultants prior to purchase.
Due Diligence Docs: https://drive.google.com/drive/folders/1ofjHuKfheShH9YxCT6D-D6MNtdimXYZz?usp=share_link
Property Facts
| Price | $1,500,000 | Property Subtype | Commercial |
| Sale Type | Investment | Proposed Use | Multifamily |
| No. Lots | 1 | Total Lot Size | 10.30 AC |
| Property Type | Land | ||
| Zoning | R-4 - R-4 is the Montrose's highest density residential zoning designation. | ||
| Price | $1,500,000 |
| Sale Type | Investment |
| No. Lots | 1 |
| Property Type | Land |
| Property Subtype | Commercial |
| Proposed Use | Multifamily |
| Total Lot Size | 10.30 AC |
| Zoning | R-4 - R-4 is the Montrose's highest density residential zoning designation. |
1 Lot Available
Lot
| Price | $1,500,000 | Lot Size | 10.30 AC |
| Price Per AC | $145,631.07 |
| Price | $1,500,000 |
| Price Per AC | $145,631.07 |
| Lot Size | 10.30 AC |
Description
Premier 10-acre multifamily development opportunity near historic downtown Montrose and popular amenities. This parcel was rezoned in 2023 to R-4 (24 units/acre) to help address Montrose’s acute housing shortage. R-4 is the city’s highest density residential zoning designation. With very few existing apartment buildings in Montrose and housing a top priority for city hall, this site positions a buyer to meet a genuine community need. The site plan is complete for 190 units with full zoning analysis done and utilities stubbed. Water, sewer, and electrical infrastructure is ready to go, positioning the project for a streamlined approval process. Just down the road from the beloved Star Drive-In Theatre, one of Colorado’s few remaining drive-in’s, and Black Canyon Golf Course, an 18-hole municipal course and Montrose’s oldest. This location has all the ingredients for strong market demand and a successful lease-up.
Property Taxes
| Parcel Numbers | Improvements Assessment | $0 | |
| Land Assessment | $0 | Total Assessment | $321,480 |
Property Taxes
Contact the Sale Advisor
TBD S Hillcrest Drive