$1,800,000 $9,663 est/mo Sourced by Back At You

3000 Highway 84,Pagosa Springs, CO 81147

Pagosa Springs CO, 81147

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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.

Details

MLS#815734
Listing TypeFor Sale
StyleTown House / Duplex
HOA Dues$480
Sub-TypeResale
StatusActive
Year2002
Days On Site8
Listing Provided ByLIV Sotheby's International Realty - CB | Di Bridges

Features

Bath(s) 8 Total
SQ Feet6,680
Garage1
Units4
Acreage3.30

Market Activity 81147

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Listings Checked: 27 seconds ago
StateCO
CountyArchuleta
CityPagosa Springs
Zip Code81147
AreaPS08 (Upper 84)
Community NameOther
School DistrictPagosa Springs 9-12
Elementary SchoolPagosa Springs K-4
Middle SchoolPagosa Springs 5-8
High SchoolPagosa Springs 9-12
Listing VS Median (in Other)
Price:
$1,800,000
low | high
Med:
$599,000
100% of Average
SqFt:
6,680
low | high
Med:
2,589
100% of Average
$ / SqFt:
$269
low | high
Med:
$231
64.138448993605% of Average
On Site:
8
low | high
Med:
57
14.035087719298% of Average
Sourced by Back At You
Listing Updated: July 11, 2024 at 1:45:15 AM PDT