835 E 6th Avenue Durango CO Real Estate
Location. Location. Location. This Duplex is located on one of the most ideal lots in downtown Durango --- just minutes from the world class restaurants on Main Avenue and near the Nature Trail / Sky Steps. Enjoy walking to the neighborhood grocery store or the downtown food court! The Victorian style home is a legal duplex with separately metered utilities and access. Each unit was completely renovated in 2015 and has all the environmental remediation paperwork completed. Rents are currently under market with value add potential. Proforma scheduled gross income potential of $49,200/year and a proforma NOI of $46,939. Current leases expire on September 1, 2022. The lot has superior alley and off-street parking and includes an existing artist cabin in the backyard for extra secure storage. Enjoy a solid 6% cash on cash return while the land appreciates due to it's solid downtown location.