518 E Georgia Ave, Gunnison, CO 81230

Property Details for 518 E Georgia Ave

Year built

1888

Property type

Residential income homes

Property subtype

Dormitories

Description

This exceptional investment opportunity presents a historic Victorian five-plex located at 518 E Georgia Ave, Gunnison, CO 81230. The property, situated on a generous corner lot adjacent to Western Colorado University's campus, comprises two buildings totaling 3,841 square feet. Built in 1888, the main three-story house features three individual rental units: one one-bedroom unit on the main floor with an attached one-car garage, a two-bedroom unit on the second floor, and another one-bedroom unit on the third floor. All units boast high ceilings, historic woodwork, and ample natural light from large windows. A separate duplex, featuring two additional units, is located adjacent to the main house, boasting new siding and insulation. This duplex also includes an attached storage shed and basement access. The property includes an elevated deck with a finished and heated office or studio space. Mature trees and an in-ground irrigation system enhance the landscaping. Ample off-street parking and additional storage sheds are available for all five units. The property is zoned for multifamily use and offers a strong rental history with excellent tenant retention. The asking price is $925,000, representing $185,000 per unit and $240.82 per square foot. This property offers a unique blend of historic charm, modern convenience, and a prime location, making it an ideal investment for discerning buyers seeking strong rental income and potential for appreciation.

Location Insight

City

Gunnison

County

Gunnison

State

Colorado

Longitude

-106.9209409

Latitude

38.5467285