REQUEST A TOUR If you would like to see this home without being there in person, select the "Virtual Tour" option and your agent will contact you to discuss available opportunities.

In-PersonVirtual Tour

Joe Reed

joe@thejoereedteam.com +1(970) 260-7725

$ 425,000

Est. payment | -/mo

5 Beds

3 Baths

3,245 SqFt

Save

$ 425,000

Est. payment | -/mo

Save

5 Beds

3 Baths

3,245 SqFt

Key Details

Property Type Multi-Family

Sub Type Duplex

Listing Status Pending

Purchase Type For Sale

Square Footage 3,245 sqft

Price per Sqft $130

MLS Listing ID 20262280

Style Two Story

Bedrooms 5

Year Built 2003

Annual Tax Amount $2,620

Tax Year 2025

Acres 0.2

Lot Dimensions 148'x51'

Property Sub-Type Duplex

Property Description

This well-maintained multi-tenant residential property, built in 2003, is ideally located in the heart of downtown Cedaredge and is fully leased. Offering exceptional flexibility, this investment property presents multiple opportunities — continue generating rental income, live in one unit while renting the others, or accommodate multi-generational living. Currently configured and rented as a duplex, the property is already set up for easy conversion to a triplex with the addition of a studio apartment and a stackable washer and dryer for the upstairs unit. Recent upgrades to the apartments enhance both comfort and appeal, while private parking spaces and fenced private yards add convenience for tenants. The property is adjacent to a pocket park honoring local Veterans and is within walking distance to downtown shops, restaurants, and amenities. A detailed list of improvements is available upon request. Offered at a 6% CAP rate, this turnkey, income-producing property is an excellent investment opportunity. Showings are available with the Listing Broker and require a 48-hour notice to tenants.

Location

State CO

Area Surface Creek

Direction Downtown Cedaredge on Hwy 65 (S. Grand Mesa Dr) on the east side

Interior

Interior Features Ceiling Fan(s), Garden Tub/Roman Tub, Jetted Tub

Heating Baseboard

Cooling Window Unit(s)

Flooring Carpet, Luxury Vinyl, Luxury VinylPlank, Tile, Wood

Fireplace false

Appliance Dryer, Dishwasher, Electric Oven, Electric Range, Disposal, Gas Oven, Gas Range, Microwave, Refrigerator, Washer

Exterior

Exterior Feature None

Parking Features Assigned

Amenities Available None

Roof Type Asphalt,Composition

Present Use Multi-Family

Street Surface Gravel

Handicap Access None

Porch Covered, Deck, Patio

Building

Lot Description Landscaped, Xeriscape

Faces West

Story 2

Foundation Slab

Sewer Connected

Water Public

Level or Stories Two

Structure Type Stucco,Wood Frame

Schools

Elementary Schools Cedaredge

Middle Schools Cedaredge

High Schools Cedaredge

Others

HOA Fee Include None

Tax ID 3193-292-00-050

Listed by GRAND MESA REAL ESTATE SERVICES

Nearby Locations

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

+1(970) 260-7725

joe@thejoereedteam.com

USA

285 S Grand Mesa Drive Cedaredge, CO 81413-0000

Joe Reed

Key Details

Location

Interior

Exterior

Building

Schools

Others

Nearby Locations

GET MORE INFORMATION

Go tour this home

285 S Grand Mesa Drive