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… Read More 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. Read Less
Courtesy of Paffrath & Thomas Real Estate [email protected],970-485-4665
Listing Snapshot
Days Online
93
Last Updated
Property Type
Single Family Residence
Beds
13
Full Baths
6
Partial Baths
1
Square Ft.
5,302
Lot Size
0.34 Acres
Year Built
1912
MLS Number
3747128
Additional Details
Appliances & Equipment
Dishwasher, Dryer, Gas Water Heater, Microwave, Range, Refrigerator, Washer
Basement
Finished
Building
Built in 1912, Living area: 5302, Levels: Two, Construction Materials: Stucco
Cooling
None
Exterior Features
Patio/Porch Features: Deck
Floors
Carpet, Tile, Vinyl
Foundation
Concrete Perimeter
Heating
Forced Air, Natural Gas
Interior Features
Ceiling Fan(s)
Laundry
Common Area
Lot
0.34 acres
Parking
10 total parking spaces
Property
City, Mountain(s)
Roof
Shingle
Security Features
Carbon Monoxide Detector(s), Smoke Detector(s)
Sewer
Public Sewer
Taxes
Parcel Number: 339, Annual Amount: $3,241, Legal Description: T09 R77 S33 NE4 FAIRPLAY CLARK AND BOGUES BLOCK 09 LOT 07 THRU 10, Year: 2025
Utilities
Cable Available, Electricity Connected, Natural Gas Connected, Water Source: Public, 110V, 220 Volts
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Listings courtesy of METROLIST, INC., DBA RECOLORADO® as distributed by MLS GRID, based on information submitted to the MLS GRID as of . Information is provided exclusively for consumers' personal noncommercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Data is deemed reliable but is not guaranteed by MLS GRID. All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may be listed or sold by various participants in the MLS, who may not be the office/agent presenting the information.
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