298 Park Ave, Pagosa Springs, CO 81147

Property Description

Rare Pagosa Springs triplex offering strong income at under $190 per square foot. 298 Park Avenue includes three separate 2-bedroom, 2-bath units, each with its own garage, on nearly half an acre. Built in 2000, the property features low-maintenance stucco siding, a durable metal roof, attractive landscaping, and a well-kept overall condition. The property has maintained nearly 100% occupancy during the seller’s ownership and currently produces a cap rate of over 7% based on existing income and expenses. Tenants pay their own electric and gas, helping keep owner operating costs lower and the income stream strong. Currently the only triplex on the market in Pagosa Springs, this is a difficult-to-replace multifamily opportunity. With six total bedrooms, six total bathrooms, three garages, proven rental demand, low-maintenance construction, and a price of less than $190 per square foot, 298 Park Avenue stands out as a compelling investment in one of Southwest Colorado’s most desirable mountain communities