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609 Clinton St

8 Unit Apartment Building $2,450,000 ($306,250/Unit) Ridgway, CO 81432

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Investment Highlights

Room for Expansion

Executive Summary

Own this iconic building where the Grammy Music Awards are made! Located in the heart of downtown Ridgway, the ''Centennial Building'' is fully leased out, which includes Airbnb rooms on the second floor and commercial spaces on the main level. Take advantage of the remaining land area available where one could build a condo off the back. Ridgway is quickly establishing itself as the the gateway to Telluride, Ouray, & Montrose. Outdoor enthusiast can enjoy local hot springs, mountain biking, live music, and The Ridgway State Park that is a beautiful mountain lake setting located within 15 minutes from this building.
The park is one of the most visited parks in Colorado and the portion of HWY 550 that passes through Ridgway is the beginning of the infamous Million Dollar Highway that has over 500,000 vehicles passing through town each year.

Property Facts

Price	$2,450,000	Building Class	C
Price Per Unit	$306,250	Lot Size	0.18 AC
Sale Type	Investment	Building Size	9,580 SF
No. Units	8	Average Occupancy	100%
Property Type	Multifamily	No. Stories	4
Property Subtype	Apartment General Retail Storefront Retail/Residential Office Office Residential	Year Built/Renovated	1990/2022
Apartment Style	Mid Rise	Parking Ratio	0.84/1,000 SF

Price	$2,450,000
Price Per Unit	$306,250
Sale Type	Investment
No. Units	8
Property Type	Multifamily
Property Subtype	Apartment General Retail Storefront Retail/Residential Office Office Residential
Apartment Style	Mid Rise
Building Class	C
Lot Size	0.18 AC
Building Size	9,580 SF
Average Occupancy	100%
No. Stories	4
Year Built/Renovated	1990/2022
Parking Ratio	0.84/1,000 SF

Unit Amenities

Balcony

Deck

Site Amenities

Controlled Access

Furnished Units Available

Guest Apartment

On-Site Retail

Unit Mix Information

Description	No. Units	Avg. Rent/Mo	SF
9+4	8	-	-

zoning

Zoning Code	Historic Business (Historic Business zoning allows flexible zoning options. Further build-out possible off back of the existing structure. Vibrant downtown location.)
Historic Business (Historic Business zoning allows flexible zoning options. Further build-out possible off back of the existing structure. Vibrant downtown location.)