Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    470 Burns Ave Ignacio, CO 81137

    View on Map
    Sponsored
    For Sale
    $700,000

    Apartment Bldg., Other - Ignacio, CO

    Property size:
    5,760 SF
    Lot size:
    0.44 Acres
    Days on Market:
    24
    Last Refresh:
    Mar 7 at 4:06 am

    Property Features for 470 Burns Ave

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Standard status
    Active
    Size
    5,760 SF
    Lot size
    0.44 Acres

    Building Details

    Year built
    1973
    Architectural style
    Other

    We can help!

    Listing Contact
    Phil Schoon

    Keller Williams Realty Southwest Associates (970) 247-3840

    Listing agent Phil Schoon (970) 247-3840

    Listing date Feb 12, 2026

    MLS# 829165 Listing URL

    Copyright © 2026 Colorado Real Estate Network Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    Stable Multi-Family Investment Opportunity

    Located in Ignacio, Colorado, just 20 minutes south of Durango, this multi-family property at 470 Burns Ave. presents a stable, income-producing investment opportunity. The property features six units, each offering two bedrooms and one and one-half baths within a 960 square feet layout. Situated centrally in Ignacio, the apartment building is within walking distance of schools, a grocery store, restaurants, and other amenities. The property is positioned as an affordable housing solution for local residents and their families. With a history of nearly 100% occupancy throughout the year, 470 Burns Ave. offers a stable investment opportunity. The property is located in Ignacio, the headquarters of the Southern Ute Indian Tribe, which is the largest employer in La Plata County. The lot size is 0.44 acres and the total property size is 5760 square feet.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Apartment buildings

    Suggested Use

    Big Box & Wholesale Store Pharmacy Gym & Fitness Center Department Store HVAC Service Restaurant Electrical Service Clothing & Fashion Store Hotel & Motel Auto Parts Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Ignacio
    County
    La Plata
    State
    Colorado
    Longitude
    -107.65
    Latitude
    37.0891

    Nearby Similar for Sale

    • Contact for pricing
      3,120 SF

      Retail Property in Ignacio, Colorado

      Retail property featuring 3,120 square feet of space.
      777 County Road 977, Ignacio, CO 81137
      View Details
    • $369,000
      3,750 SF

      Ignacio Retail Corner - High Traffic!

      Busy downtown location, 3,750 sq ft, potential for high returns.
      500 Goddard Ave, Ignacio, CO 81137
      View Details
    • $124,990
      1,012 SF

      Ignacio Office Building - Great Location!

      Prime Ignacio office, 1012 sq ft, high traffic area.
      645 Goddard Ave, Ignacio, CO 81137
      View Details
    • $419,000
      1,770 SF

      770 sq ft building has been occupied for many uses in the past from enviromental office

      and a library to resturant. There are two restrooms and there is a commercial kitchen ventilation range hood with fire suppresion
      210 Goddard Ave, Ignacio, CO 81137
      View Details
    • $360,000
      75,664 SF

      Ignacio Commercial Land Investment Opportunity

      1.73 Acres, In-Town Ignacio, CO
      Tbd Goddard Ave, Ignacio, CO 81137
      View Details

    FAQs

    What type of property is this?
    Apartment building - Income-producing six-unit apartment building in Ignacio, Colorado.
    Where is this apartment building located?
    The property is located at 470 Burns Ave Ignacio, CO.
    What is the asking price?
    The asking price for this property is $700,000.
    What are key features of this property?
    This property features: - Stable, income-producing multi-family property with a nearly **6.6% cap rate**.; - Six, two-bedroom, one and one-half bath units, each 960 SF.; - Consistent high occupancy rate (nearly 100%) year-round.
    (970) 769-2857
    Request Owner's contact information
    470 Burns Ave Ignacio, CO 81137
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    470 Burns Ave
    Ignacio, CO 81137
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    470 Burns Ave Ignacio, CO 81137
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Phil Schoon
    (970) 769-2857 (970) 247-3840
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!