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3000 Highway 84 , A, B, C, D

Pagosa Springs, CO 81147
  • $1,800,000
  • STATUS: Active
  • ON SITE: 15 Days
  • MLS #: 815734
UPDATED: 45 min ago
$1,800,000
  • 0
    BEDS
  • 3.3
    ACRES
  • 8
    BATHS
  • 0
    1/2 BATHS
  • 6,680
    SQFT
  • $269
    $/SQFT
Neighborhood:
Type:
Multi-Family
Built:
2002
County:

School Information

Elementary School:
Middle School:
High School:
Listing courtesy of LIV Sotheby's International Realty - CB: 970-349-6653.


Description

INVESTORS! Trillium Townhomes' 4 units comprise 2 duplexes and sit atop a pine-covered bluff on 3.3 acres. They have large, privately owned backyards and a common front area that includes the driveways. These single-story units were built in 2002 and are 1670 SF apiece with 3 bedrooms including a primary suite with a walk-in closet, 2 full baths, a 1-car garage, vaulted ceilings in the living room, and private, covered back patios with mountain views. Each backyard is 1/4 - 1/3 acre and can be fenced per the POA Covenants and Restrictions. Units A & B have a new roof, last summer all units were freshened up with new carpeting, vinyl wood plank flooring, and paint inside and out. Most appliances were replaced, along with most light fixtures, faucets, screen doors, and laundry folding tables were added. Everything is in good working order and the units are fully tenanted. Currently, one unit generates $2200/mo., two units will generate $2200/mo. by Aug 1, and another will generate $2200/mo. by the end of the year. So, on Jan 1, 2025, these will generate $8800/mo. At that time, the Cap Rate will be 5.4. Team Pagosa is the current property manager, and they are doing an excellent job. In May 2023, these units were appraised at $425K apiece after the appraiser was told minor improvements would be made. The seller invested more than $240K into improvements and repairs last summer after finding great local tradespeople. Also, a water meter project was started last summer, converting one water meter to four. This could not be completed until subdivision approval, which was acquired in May 2024. The seller has paid $17.5K toward this project and will pay the remaining $17.5K balance when it is finished. Septic passed inspection, and the Transfer of Title has been completed. The seller is a licensed Colorado real estate agent.

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[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 2024. 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 Destination DRO Real Estate Group contain that company’s name.
Fair Housing Disclaimer

This data was last updated: 2024-07-24T06:57:10.723.
www.destinationdro.com/homes/152405291
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3000 Highway 84 , A, B, C, D Pagosa Springs, CO 81147

  • Price: $1,800,000
  • Status: Active
  • On Site: 15 Days
  • Updated: 45 min ago
  • MLS #: 815734
0
Beds
8
Baths
0
½ Baths
3.3
Acres
6,680
SQFT
$269
$/SQFT
2002
Built
Neighborhood:
Other
County:
Archuleta
Area:
Ps08 (Upper 84)
Elementary School:
Pagosa Springs K-4
Middle School:
Pagosa Springs 5-8
High School:
Pagosa Springs 9-12
Property Description
INVESTORS! Trillium Townhomes' 4 units comprise 2 duplexes and sit atop a pine-covered bluff on 3.3 acres. They have large, privately owned backyards and a common front area that includes the driveways. These single-story units were built in 2002 and are 1670 SF apiece with 3 bedrooms including a primary suite with a walk-in closet, 2 full baths, a 1-car garage, vaulted ceilings in the living room, and private, covered back patios with mountain views. Each backyard is 1/4 - 1/3 acre and can be fenced per the POA Covenants and Restrictions. Units A & B have a new roof, last summer all units were freshened up with new carpeting, vinyl wood plank flooring, and paint inside and out. Most appliances were replaced, along with most light fixtures, faucets, screen doors, and laundry folding tables were added. Everything is in good working order and the units are fully tenanted. Currently, one unit generates $2200/mo., two units will generate $2200/mo. by Aug 1, and another will generate $2200/mo. by the end of the year. So, on Jan 1, 2025, these will generate $8800/mo. At that time, the Cap Rate will be 5.4. Team Pagosa is the current property manager, and they are doing an excellent job. In May 2023, these units were appraised at $425K apiece after the appraiser was told minor improvements would be made. The seller invested more than $240K into improvements and repairs last summer after finding great local tradespeople. Also, a water meter project was started last summer, converting one water meter to four. This could not be completed until subdivision approval, which was acquired in May 2024. The seller has paid $17.5K toward this project and will pay the remaining $17.5K balance when it is finished. Septic passed inspection, and the Transfer of Title has been completed. The seller is a licensed Colorado real estate agent.
Exterior Features

Carport No Garage Yes Garage Type Attached Garage Property Attached No Street Description Paved Water Well No Waterfront YN No

Interior Features

One Quarter Baths 0 Total Office Dens 0

Property Features

Covenants YES Green Certification No Hoa Yes Hoa Name Trillium Townhomes Horse Setup No Multi Story No New Construction YN No Reo Lender Owned No Tax Year 2023 Total Electric Meters 4 Total Gas Meters 4 Total Taxes 5641.40 Total Water Meters 4 Type Fourplex Water Rights No

[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 2024. 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 Destination DRO Real Estate Group contain that company’s name.
Fair Housing Disclaimer

This data was last updated: 2024-07-24T06:57:10.723.
 
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Destination DRO Real Estate Group
1163 E 2nd Ave
Durango CO, 81301-5155
Listing courtesy of LIV Sotheby's International Realty - CB: 970-349-6653.