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2331 Main Avenue

Durango, CO 81301
  • $1,200,000
  • STATUS: Active Under Contract
  • ON SITE: 30 Days
  • MLS #: 820482
Under Contract
UPDATED: 48 min ago
$1,200,000
  • 0
    BEDS
  • 0.25
    ACRES
  • 13
    BATHS
  • 0
    1/2 BATHS
  • 4,726
    SQFT
  • $254
    $/SQFT
Neighborhood:
Type:
Commercial
Built:
1927
County:

School Ratings & Info

Listing courtesy of The Wells Group of Durango, LLC: 970-259-6680.


Description

A Rare Investment Opportunity. Dont 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.

Monthly Payment Calculator

[Colorado Real Estate Network] logo The data relating to real estate for sale on this web site comes in part from the Internet Data Exchange (IDX) program of Colorado Real Estate Network, Inc. (CREN), © Copyright 2025. All rights reserved. All data deemed reliable but not guaranteed and should be independently verified. This database record is provided subject to “limited license” rights. Duplication or reproduction is prohibited.
FULL CREN Disclaimer

Real Estate listings held by companies other than Durango Mountain Realty contain that company’s name.
Fair Housing Disclaimer

This data was last updated: 2025-02-15T12:56:36.503.
www.durangomountainrealty.com/homes/159457620
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2331 Main Avenue Durango, CO 81301

  • Price: $1,200,000
  • Status: Active Under Contract
  • On Site: 30 Days
  • Updated: 48 min ago
  • MLS #: 820482
0
Beds
13
Baths
0
½ Baths
0.25
Acres
4,726
SQFT
$254
$/SQFT
1927
Built
Neighborhood:
Durango In Town
County:
La Plata
Area:
Durango In Town
Property Description
A Rare Investment Opportunity. Dont 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.
Exterior Features

Acreage Range Less than 1/2 Carport No Lot Dimension 75x150 Parking Paved2-10 Total SpacesCommon Property Description Other Sewer Public Sewer Installed Stories 1 Street Description 50'-75' FrontageCity/Town Water Public Water Well No Waterfront YN No

Interior Features

Cooling Type Evaporative Cooler Finished Sq Ft 4726 Heating Fuel Source ElectricNatural Gas Heating System Other Main Sq Ft 4726 One Quarter Baths 0 Total Offices 0

Property Features

Available Utilities CableElectricNatural GasSanitary SewerWater Books Available No Cam No Covenants NO Current Use Lodging Documents On File Leases Exchange Trade No Existing Utilities ElectricNatural Gas Fixtures Included No Inventory Included No Landlord Pays Building InsuranceCommon Area MaintenanceElectricExt Maintenance (Bldg)GasInterior MaintenanceReal Estate TaxesSewer/WaterSite Maintenance (Prop)Snow RemovalTrash Lease Included Yes New Construction YN No Owners Association No Possible Property Use Lodging Railroad Siding Spur No Real Estate For Sale Yes Reo Lender Owned No Tax Year 2023 Tenant Pays None Total Electric Meters 1 Total Gas Meters 1 Total Taxes $2200.12 Total Water Meters 1 Type Other Water Rights No Zoning Type Other

[Colorado Real Estate Network] logo The data relating to real estate for sale on this web site comes in part from the Internet Data Exchange (IDX) program of Colorado Real Estate Network, Inc. (CREN), © Copyright 2025. All rights reserved. All data deemed reliable but not guaranteed and should be independently verified. This database record is provided subject to “limited license” rights. Duplication or reproduction is prohibited.
FULL CREN Disclaimer

Real Estate listings held by companies other than Durango Mountain Realty contain that company’s name.
Fair Housing Disclaimer

This data was last updated: 2025-02-15T12:56:36.503.
 
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Durango Mountain Realty
PO Box 17000
Durango CO, 81302
Listing courtesy of The Wells Group of Durango, LLC: 970-259-6680.