Four-Unit Contemporary Multifamily
For Sale
$1,490,000
185 N Lena Street, Ridgway, CO 81432
MULTIFAMILY, Contemporary, Ridgway, CO
Property Size3,424 SF
Price / SF$435.16
Days on Market235
Property Features for 185 N Lena Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Property condition
Under Construction
Bathrooms
4
Full bathrooms
4
Rooms
Bathroom 4, Bathroom 3, Bathroom 2, Bathroom 1
Directions
Town of Ridgway, North on Lena, property on the left.
Standard status
Active
Size
3,424 SF
Amenities
covered carport
dedicated storage area
Building Details
Year built
2024
Architectural style
Contemporary
Listing Agency:
Keller Williams Realty Southwest Associates, LLC - Montrose
(970) 596-0870
Listed By:
Colleen Aller · License #FA100097828
(970) 901-7018
Added: Jan 11
Changed: Sep 2
Last Checked: Sep 3 at 1:06AM
MLS# 830826
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Investment Insights
Based on property information with market context.
Condo D comprises four deed-restricted residential condominiums in the historic Old Firehouse building. The mix includes three one-bedroom, one-bath residences and one studio with a full bath. Completed residences feature an oven/range, refrigerator, dishwasher, washer, and dryer, along with dedicated storage and a covered carport for each unit. Elevator service connects to the residential level.
The property is located at 185 N Lena Street in Ridgway, with walkable access to restaurants, shopping, schools, parks, and other community amenities. Units are subject to an income-based restriction set at 140% of Area Median Income, with approximately 17 years remaining before conversion to free-market status. Current rents are below the permitted maximums, and the property produces over a 5% return at the full asking price.
The property is located at 185 N Lena Street in Ridgway, with walkable access to restaurants, shopping, schools, parks, and other community amenities. Units are subject to an income-based restriction set at 140% of Area Median Income, with approximately 17 years remaining before conversion to free-market status. Current rents are below the permitted maximums, and the property produces over a 5% return at the full asking price.
Key Highlights
- Four deed‑restricted condos: three 1‑bedroom/1‑bath units and one studio with a full bath
- 3,424 square feet in a 2024 contemporary multifamily property
- Each residence includes an oven/range, refrigerator, dishwasher, washer, and dryer
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
423
Businesses Nearby
Explore this area
Business Placement
Demographics for 81432, CO
3,061
Population
2,058
Households
1.5
Avg Household Size
54
Median Age
56%
College-Educated
99%
High-School Grad
300.4 sq mi
ZIP Area
10
Density / Sq Mi
$87,547
Median Household Income
$46,643
Median Earnings
$1,469
Median Rent
$771,400
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Multifamily property - Four residential condominiums combine updated interiors, private storage, covered parking, and elevator access within a historic building.
Where is this multifamily property located?
The property is located at 185 N Lena Street Ridgway, CO.
What is the asking price?
The asking price for this property is $1,490,000.
What are key features of this property?
This property features: Four deed‑restricted condos: three 1‑bedroom/1‑bath units and one studio with a full bath; 3,424 square feet in a 2024 contemporary multifamily property; Each residence includes an oven/range, refrigerator, dishwasher, washer, and dryer
