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    115 7 Ave Ouray, CO 81427

    For Sale
    $2,400,000

    Downtown Ouray, 3-unit rental property

    Property size:
    4,285 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    369
    This exceptional investment opportunity presents a rare triplex in downtown Ouray, Colorado. The property comprises three legally distinct residential units, each with a short-term rental license, offering significant income potential. Two units boast three bedrooms and two bathrooms, while a charming historic cottage provides a unique one-bedroom, one-bathroom option. The units are arranged around a central courtyard on a gated 8,200 square foot corner lot, providing ample space and privacy. The total square footage is 4,285, with a price per square foot of $560. Built in 2005 (with one historic unit circa 1900), the property features off-street parking and is conveniently located within walking distance of shops, restaurants, breweries, and hiking trails. Its R-2 zoning specifically permits short-term rentals, a highly desirable feature in this popular tourist destination. The property's flexible use scenarios allow for the sale of individual units, varied rental configurations, or use as a private compound. The central location, diagonally across 7th Avenue from the historic Western Hotel and Saloon, ensures high visibility and accessibility. This is a unique opportunity to acquire a high-yield, multi-unit property in a prime Ouray location. The asking price is $2,400,000.

    Property Features for 115 7 Ave

    General Information

    Property type
    Multifamily properties
    Square Feet
    4,285 SF

    Building Details

    Year Built
    2005
    Buildings
    2
    Units
    3

    HighLights

    • Zoned for short‑term rentals.
    Property Profile Location Intelligence

    Current Use by Public Records

    Residential income homes

    Map

    City
    Ouray
    County
    Ouray
    State
    Colorado
    Longitude
    -107.67359332963
    Latitude
    38.02378345693

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    FAQs

    What type of property is this?
    Multifamily property - Downtown Ouray, 3-unit rental property
    Where is this multifamily property located?
    The property is located at 115 7 Ave Ouray, CO.
    What is the asking price?
    The asking price for this property is $2,400,000.
    What are key features of this property?
    This property features: Zoned for short-term rentals.; ;
    Request Owner's contact information
    115 7 Ave Ouray, CO 81427
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    Realmo Value Estimation

    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.

    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.

    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
    115 7 Ave Ouray, CO 81427
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