Homes for sale - 1428 Greene Street, Silverton, CO 81433

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Amanda Maxwell

amanda@maxwellbuilt.net +1(970) 394-0732

$ 2,475,000

Est. payment | -/mo

12,098 SqFt

Save

$ 2,475,000

Est. payment | -/mo

Save

12,098 SqFt

Key Details

Property Type Multi-Family

Sub Type Apartment Bldg.

Listing Status Active

Purchase Type For Sale

Square Footage 12,098 sqft

Price per Sqft $204

MLS Listing ID 805317

Style Mid/High Rise Apts

Year Built 2005

Tax Year 2022

Lot Size 4,791 Sqft

Acres 0.11

Property Sub-Type Apartment Bldg.

Property Description

A truly one of a kind acquisition opportunity in Silverton, CO, this mixed-use multifamily building is the largest apartment building in town with 10 residential units in addition to 3 commercial units on Silverton's main street. The property is 100% occupied with a strong historical occupancy and has been well maintained since construction. The building's exterior has recently been fully painted and the entire heating system has been improved and optimized. Amongst the 10 residential units there are 8 units offering a spacious 2 bed 2 bath layout with either bay-windows or french doors providing ample natural light and wonderful views of the San Juan Mountains that surround Silverton. The other two residential units are ground floor and ADA compliant with one unit being a large studio and the other being a 1 bed 1 bath with living space and separate kitchen area. All units have separate meters for electricity while the owner pays the other utilities and common area maintenance. Within the common areas is a coin op laundry room with 2 washers and 2 dryers that create additional income and are a great benefit for the tenants. Behind the building there are 4 covered parking spaces in the carport which have the option to create additional income as rented parking spaces. Significant opportunities for value add are found in the partially finished basement which totals 3,457 SqFt of space that has two points of egress and is tied into the robust sprinkler/fire suppression system that runs throughout the building. This space has an area that is stubbed out to create an additional bathroom and could be utilized as a gym facility, additional office spaces, or expansion of the paid storage areas and once finished would increase the total square footage of the building to 15,456. In addition, this property is located within the Business Pedestrian zoning district, which means this entire building has the ability to offer short term vacation rentals as a use by right, providing the owner various options in utilizing the property and maximizing their income. With the strict short term rental regulations in the region, this is a rare opportunity that does not come up often in beautiful Silverton, CO. The demand for housing in Silverton significantly outweighs the supply and this is an opportunity to be one of the largest providers of housing in the region.

Location

State CO

County San Juan

Zoning Residential Multi Family

Rooms

Basement Basement-partial finish

Interior

Flooring Carpet, Linoleum

Furnishings Unfurnished

Exterior

View Mountains, Valley

Roof Type Composition

Building

Story Three Story

Foundation Basement-partial finish

Sewer City Water

Water City Water

New Construction No

Schools

Elementary Schools Silverton K-5

Middle Schools Silverton 6-8

High Schools Silverton 9-12

Colorado Real Estate Network (CREN) + Sold

Listed by Keller Williams Realty Southwest Associates, LLC

"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "

+1(970) 394-0732

amanda@maxwellbuilt.net

19 S Broadway, Cortez, CO, 81321-3401, USA

1428 Greene Street Silverton, CO 81433