6,098 Square Foot Multi-Family Space For Sale @ 727 Elk Ave

A UNIQUE IN-TOWN PROPERTY. THE MAIN HOUSE, APPROXIMATELY 2,020 SQ FT, IS DIVIDED INTO TWO UNITS. THE STUDIO, LOCATED AT THE REAR OF THE PROPERTY, APPROXIMATELY 398 SQ FT, IS THE THIRD UNIT. ALL THREE ARE CURRENTLY RENTED AND GENERATE APPROX $44,000 GROSS REVENUE ANNUALLY. ACCORDING TO THE TOWN OF CRESTED BUTTE, AS MUCH AS 380 SQ FT MAY BE ADDED TO THE MAIN HOUSE AND 200 SQ FT TO THE STUDIO. A BUYER WOULD HAVE THE OPTIONS OF LIVING IN ONE OF THE UNITS AND BE ABLE TO GENERATE INCOME FROM THE OTHER TWO. THE BUYER WOULD ALSO BE ABLE TO LIVE IN TWO OF THE UNITS WHILE ONE UNIT, BEING DEED RESTRICTED, MUST BE RETAINED FOR LONG TERM RENTAL. THE PROPERTY IS WITHIN THE THE SHORT TERM RENTAL DISTRICT.