4-Unit Multifamily
For Sale
$1,490,000
185 N Lena Street Unit Condo "D", Ridgway, CO 81432
An income-based restriction allows occupancy by households earning up to 140% of Area Median Income.
Property Size3,424 SF
Price / SF$435.16
Days on Market294
Property Features for 185 N Lena Street Unit Condo "D"
General Information
Standard status
Active
Size
3,424 SF
Elevators
Yes
Property subtype
Quadruplex
Units
Unit Mix
3 x 1BR/1BA, 1 x studio
Multifamily Units
4
Additional Details
Tenant in Place
Yes
Taxes and HOA fees
Annual Taxes
$5,732
Amenities
dedicated storage area
covered carport
oven/range
refrigerator
dishwasher
washer
dryer
Building Details
Building Size
3,424 SF
Year Built
2024
Listing Agency:
Keller Williams Realty Southwest Associates, LLC - Montrose
Listed By:
Colleen Aller · License #FA100097828
(970) 901-7018
Source:
Ellisonmacintire
Added: Jan 6
Changed: Oct 26
Last Checked: Oct 26 at 3:52PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Keller Williams Realty Southwest Associates, LLC - Montrose
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Investment Insights
Based on property information with market context.
Condo D contains four residential units in the historic Old Firehouse: three one-bedroom, one-bath residences and a studio with a full bath. The 3,424-square-foot property was built in 2024, and the units are newly finished. Each has an oven/range, refrigerator, dishwasher, washer, dryer, dedicated storage, and a covered carport. An elevator serves the residential level.
The units carry an income-based deed restriction capped at 140% of Area Median Income, with approximately 17 years remaining before conversion to free-market status. The Ridgway location provides walkable access to restaurants, shops, schools, parks, and community amenities. Ouray is about 10 minutes away, while Telluride is roughly 45 minutes west.
The units carry an income-based deed restriction capped at 140% of Area Median Income, with approximately 17 years remaining before conversion to free-market status. The Ridgway location provides walkable access to restaurants, shops, schools, parks, and community amenities. Ouray is about 10 minutes away, while Telluride is roughly 45 minutes west.
Key Highlights
- Four residences: three one‑bedroom/one‑bath units and one studio with a full bath
- Income‑based deed restriction at 140% of Area Median Income, with approximately 17 years remaining
- 3,424 square feet; built in 2024
Property Analytics
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
Frequently Asked Questions
What type of property is this?
Multifamily property - An income-based restriction allows occupancy by households earning up to 140% of Area Median Income.
Where is this multifamily property located?
The property is located at 185 N Lena Street Unit Condo "D" 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 residences: three one‑bedroom/one‑bath units and one studio with a full bath; Income‑based deed restriction at 140% of Area Median Income, with approximately 17 years remaining; 3,424 square feet; built in 2024
