185 N Lena Street, Ridgway, CO 81432

Building Details

Year built

2024

Architectural style

Contemporary

Listing agent Colleen Aller License #FA100097828 Show Phone

Listing office Keller Williams Realty Southwest Associates, LLC - Montrose g***@dgorealestate.com Durango, CO Show Phone

Listing date Jan 11, 2026

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MLS# 830826 Listing URL

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Overview

Condo D includes four deed-restricted residential units inside the historic Old Firehouse building. The offering consists of three 1-bedroom, 1-bath condos and one studio with a full bath. Each unit is newly finished and includes an oven/range, refrigerator, dishwasher, and in-unit washer and dryer. Residents also receive a dedicated storage area, and each residence has a covered carport. An elevator provides access to the residential level.

The property is located in-town in Ridgway, with walkable access to restaurants, shopping, schools, parks, and community amenities. The deed restriction is income-based only, set at 140% of Area Median Income, with approximately 17 years remaining before the units convert to free-market status.

These units are designed for workforce housing, with current rents stated to be below the maximum allowable levels. The offering is described as producing over a 5% return at the full asking price, with stable performance and future conversion to free-market status after the deed restriction period ends. The mix of newly finished, in-town convenience, and long-term structure is positioned to serve year-round staffing needs from employers across hospitality, education, healthcare, trades, municipal services, and recreation.

Suggested Use

Pharmacy Auto Parts Store Storage Facility Auto Repair Shop HVAC Service Grocery & Convenience Store Discount Store Grocery & Convenience Store Bakery Home Appliance Store

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

Location Insight

• Map
• Local Demand

City

Ridgway

County

Ouray

State

Colorado

Longitude

-107.756598

Latitude

38.152137

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FAQs

What type of property is this?

Quadplex - Four newly finished deed-restricted condos with covered carports and storage, in an elevator-served historic building.

Where is this quadplex 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: 4‑unit condo offering in the historic Old Firehouse building, including three 1‑bedroom/1‑bath units and one studio with a full bath.; Under construction (Year built 2024) with newly finished interiors in each unit.; Each unit includes kitchen appliances plus in‑unit washer and dryer: oven/range, refrigerator, dishwasher, washer, and dryer.