Active
2331 Main Avenue
Durango CO, 81301
$1,200,000
$253.91 per sqft
Active
13 Baths
4,726 sqft
Commercial
Built in 1927
Listed by Abbi Munn with The Wells Group of Durango, LLC 970-759-2217
A Rare Investment Opportunity. Don't miss this opportunity to own a successful and longstanding lodging operation in the heart of the North Main Avenue corridor. The Brookside has been owned and operated by the same owners since 1986, providing affordable and workforce housing. This property comprises 14 units across three separate buildings, including a manager's unit and a mix of studio and one-bedroom apartments. The property abuts the City of Durango on two sides, The Chamber of Commerce headquarters and Brookside Park, offering a prime location for residents. The Brookside primarily serves those seeking budget-friendly, no-frills accommodations, fulfilling a vital need in a market with high housing demand and a shortage of affordable options. Residents enjoy convenient access to public transit, grocery stores, retail shops, the Durango Rec Center, the Animas River Trail, schools, and other city amenities. While the buildings are in average condition, several units have received recent updates and renovations. Current rental rates are below market value, with the owner covering all utilities. . This presents an excellent opportunity for buyers to explore potential value-add strategies or run their own proforma to assess future income potential. Whether you're an investor or an owner-user seeking a steady income stream, this property offers endless possibilities. Buyer must sign an NDA for financial package; exclusions to listing- please call broker.
820482
MLSⓇ ID
January 15, 2025
Listed
January 21, 2025
Updated
Map
2331 Main Avenue
Durango CO, 81301
Interior Features
Total Stories
1
Total Bathrooms
13
Full Bathrooms
5
Three-Quarter Bathrooms
8
Fireplace
No
Cooling
Yes
Cooling Description
Evaporative Cooling
Heating
Yes
Heating Description
Electric, Natural Gas, Other
Exterior/Building Features
Lot Size
0.25 Acres
Lot Features
Other
Sewer
Connected, Public Sewer
Other Property Details
Area Name
Durango In Town
Days on Market
6
Garage
No
Parking
Common, Paved, Parking Space(s)
View
No
County
La Plata
Water Source
Public
Pool
No
Listed by Abbi Munn with The Wells Group of Durango, LLC 970-759-2217
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Data last updated on: 1/21/2025