$569,000

510 E 8th Street

Durango CO, 81301

Description

EXCELLENT INVESTMENT OPPORTUNITY IN HISTORICAL DOWNTOWN DURANGO, COLORADO! Diversify your portfolio here, and earn a total of $3,345 per month ($40,140 per year) in rental income from this DUPLEX. Property taxes are only at $1460 for 2020. Excellent purchase for consistent rental income and appreciation for your future. This duplex comprised of a 3-bedroom, 1 bath unit (leased at $1800/month); and a 2-bedroom, 1 bath unit (leased at $1350/month) and a 1-car garage (leased at $195/month). All are leased out and the property is never vacant. Located on E 8th Street and 5th Ave in one of Durangos most sought after downtown neighborhoods; it is an ideal location, and attracts long term tenants. Other options include: Live in one unit, and rent the second one; additionally the residence would be a perfect candidate to convert the home back to a single family home! The residence is located in the heart of downtown Durango, just a few blocks from the world class galleries, dining and shops. Additionally, the home enjoys nearby access to trail systems, parks, the Animas River and all outdoor recreation offered in beautiful Durango. This unique property has an interesting history; originally built in 1893, the residence was built for one of Durango's first doctors. The main unit has 3 bedrooms and one bath. The kitchen, dining area and bathroom were updated with tile flooring and cabinets. From the covered porch, you enter into the parlor. The parlor, living room and upstairs all have hardwood floors. All of the bedrooms have nice sized closets. The main unit has a large storage area in the basement as well. The second one level unit has two bedrooms and one bath. There is a sliding glass door from the living room to a fenced backyard area that is great for entertaining. The dining area has a nice built-in table and bench. A small loft is also located just off the dining area for an extra storage. Additionally, the property features a spacious 20x24 detached garage. This is a great deal on a historic Durango Duplex!

Details

MLS#770861
Listing TypeFor Sale
StyleHouse
Sub-TypeResale
StatusActive
Year1893
Days On Site17

Features

Bed(s)5
Bath(s)2fb
SQ Feet2,098
Garage1
Story(s)Two Story
Acreage0.09

Additional Information

Taxes1460
ParkingDetached
HeatingSpace Heater
Available AmenitiesElectric,Natural Gas,Cable TV

Market Activity 81301

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Area Information

StateCO
CountyLa Plata
CityDurango
Zip Code81301
AreaDurango In Town
Community NameCity of Durango
Middle SchoolEscalante 6-8
High SchoolDurango 9-12
Listing VS Median (in City of Durango)
Price:
$569,000
low | high
Med:
$795,000
10.281195079086% of Average
SqFt:
2,098
low | high
Med:
3,300
7.292659675882% of Average
$ / SqFt:
$271
low | high
Med:
$241
61.172711295734% of Average
On Site:
17
low | high
Med:
387
4.392764857881% of Average
Listing Updated: 07/02/2020
Gabi Bergstrom LogoMLS Number: 770861
Listing Provided By:
Gabi Bergstrom  of  RE MAX Pinnacle



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