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    FOR SALE
    Residential income homes

    518 E Georgia Ave Gunnison, CO 81230

    3,841 SF Built 1888
    Property ID
    US13-1411379
    518 E Georgia Ave, Gunnison, CO 81230 For Sale 1 / 41
    $825,000 3,841 SF
    518 E Georgia Ave, Gunnison, CO 81230
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    AI-generated overview

    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.

    Property profile
    Verified
    Property type Residential income homes
    Year built 1888
    Total area 3,841 SF
    UPID US13-1411379
    Cap rate & NOI
    Priority signal for investors
    Implied cap rate, NOI & suggested price
    Cap rate vs submarket · NOI estimate · 3 price anchors
    Implied cap rate, NOI & suggested price
    Cap vs submarket · NOI estimate · 3 price anchors
    Current use
    Occupant on record · Public records
    • DJ Chaz Entertainment Nightclub Music Venue
    1 occupant on record
    Value estimations
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