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William Watson

bill@watsonrg.com +1(720) 463-0002

$1,400,000

Est. payment - /mo

13 Beds

7 Baths

5,302 SqFt

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Key Details

Property Type Single Family Home

Sub Type Single Family Residence

Listing Status Active

Purchase Type For Sale

Square Footage 5,302 sqft

Price per Sqft $264

Subdivision Clark And Bogue

MLS Listing ID 3747128

Bedrooms 13

Full Baths 5

Half Baths 1

HOA Y/N No

Year Built 1912

Lot Size 0.340 Acres

Acres 0.34

Property Sub-Type Single Family Residence

Property Description

Exceptional investment opportunity in the heart of Fairplay! This fully remodeled, turn-key five-unit apartment style building offers immediate income potential in one of Colorado's fastest-growing mountain communities. Rich in local history, 550 Castello Avenue has been extensively renovated over the past several years, blending historic character with modern updates to create an attractive, low-maintenance asset. The property encompasses more than 5,300 square feet and features five spacious apartments totaling 13 bedrooms. Every unit has been thoughtfully updated with new kitchens, remodeled bathrooms, updated flooring, fresh interior paint, modern lighting, new water heaters, and numerous additional improvements. A new roof further enhances the property's long-term value, allowing investors to focus on generating income rather than deferred maintenance. Ideally situated just two blocks from Highway 9 and only 22 miles from world-renowned Breckenridge Resort, the location offers year-round rental demand driven by recreation, tourism, and the growing local workforce. Additional amenities include a common-area laundry room, abundant off-street parking with a wraparound driveway, an unfinished basement providing additional storage or future potential, and an on-site dumpster. Unit 1 offers 3 bedrooms, 1 bathroom, a dining room, mudroom, and ground-level access. Unit 2 features 4 bedrooms, 1¾ bathrooms, and an upper-level deck. Unit 3 includes 2 bedrooms, 1½ bathrooms, an office, and ground-level access. Unit 4 offers 2 bedrooms, 1 bathroom, a dining area, and an upper-level deck. Unit 5 features 2 bedrooms, 1 bathroom, a mudroom, walk-in pantry, walk-in closet, unfinished basement access, and ground-level entry. Whether you're expanding your portfolio or seeking a high-performing mountain investment, this rare multi-family opportunity is ready to produce income from day one. See attached floor plans and Matterport tours for additional details.

Location

State CO

County Park

Rooms

Basement Finished

Interior

Interior Features Ceiling Fan(s)

Heating Forced Air, Natural Gas

Cooling None

Flooring Carpet, Tile, Vinyl

Appliance Dishwasher, Dryer, Gas Water Heater, Microwave, Range, Refrigerator, Washer

Laundry Common Area

Exterior

Utilities Available Cable Available, Electricity Connected, Natural Gas Connected

Waterfront Description Public

View City, Mountain(s)

Roof Type Shingle

Porch Deck

Private Pool No

Building

Story Two

Foundation Concrete Perimeter

Sewer Public Sewer

Water Public

Schools

School District Elementary: Park County Re-2, Middle/Junior: Park County Re-2, High: Park County Re-2

Others

Senior Community No

Tax ID 339

Special Listing Condition None Known

Virtual Tour https://my.matterport.com/show/?m=D4CA4spSdZ2

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Listed byPaffrath & Thomas Real Estate

Nearby Locations

"Many agents say they put their client’s needs first, but the Watson Realty Group are on a mission to actually do it by providing their clients several GUARANTEE programs that take the risk out of selling or buying a home. We are passionate about providing these guarantees, and at the same time making each of our clients feel as though they are our only client. We Live Here, We Work Here and We are Here to Serve You! "

+1(720) 463-0002

bill@watsonrg.com

CO, USA

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550 Castello AVE Fairplay, CO 80440