550 Castello Avenue
Fairplay, CO, 80440 $ 1,400,000
Bedrooms-- Baths-- Sq 5,302 Monthly Estimate*
$ 8,734
Listed by Paffrath & Thomas Real Estate
for $1,400,000. This 5,302 square foot building was built in 1912 on a lot size of 0.34.
5-unit apartment building located in the Town of Fairplay, CO! This remodeled, turn-key property is an investor's dream. 550 Castello Avenue has amazing history, and has undergone a major renovation over the past couple years. The building consists of over 5,300 square feet, with 5 apartments, totaling 13 bedrooms. Each unit boasts new kitchens, bathrooms, flooring, paint, lighting, water heaters, and various other upgrades. Located just 22 miles from world renowned Breckenridge Resort, and 2 blocks from HWY 9, this property is designed to offer consistent and lucrative rentals income year-around. All of the hard work has been done, with the installation of a new roof and full interior remodel. Start renting today! Some of the other great features of this property include, a common-area laundry room, wrap around driveway with abundant parking, unfinished basement area, and on-site dumpster. Unit 1 includes 3-bedrooms, 1-bathroom, mud room, dining room, and ground floor access. Unit 2 includes 4-bedrooms, 1 3/4-bathooms, top floor access with deck. Unit 3 includes 2-bedrooms, 1 1/2-bathrooms, office, and ground floor access. Unit 4 includes 2-bedrooms, 1-bathroom, dining room, top floor access, and deck. Unit 5 includes 2-bedrooms, 1-bathroom, mud room, walk-in pantry, walk-in closet, unfinished basement. and ground floor access. See attached floorplans and Matterport tours for more details.
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FeaturesGeneralSewer Public Sewer
Utilities Electricity Connected Natural Gas Connected Sewer Connected
Possession Closing/DOD
Roof Architecural Shingle
Garage Spaces 0
Security Features Carbon Monoxide Detector(s) Fire Alarm
Construction Materials Stucco
Year Built 1912
Electric 110V 220 Volts
Tenant Pays Cable TV Gas
Stories Count 3
Property Subtype Multi-Family
Tax Year 2023
Current Use Multi-Family
County Park
Property Type Commercial Sale
Attached Garage N
Building Features Laundry Wi-Fi
Status Active
Directions From HWY 9 in Fairplay turn North onto Fifth Street. Turn Right onto Castello Avenue. Property located on the Left.
City Fairplay
Number Of Units Total 5
Lot Size Units Acres
Lot Size Square Feet 14810.4
Carport Spaces 0
Listing Terms Cash Conventional
Tax Annual Amount 910
Virtual Tour https://my.matterport.com/show/?m=6Mp8iqQSD9m
Structure Type Free Standing
Standard Status Active
Occupancy Type Tenant (Multiple)
Cap Rate 7.5
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ExteriorExterior Amenities Balcony
Parking Features Circular Driveway Driveway-Gravel
Lot Features Historical District
Water Source Public
Total Parking 0
Lot Size Area 0.34
Building Area Total 5302
Lot Size Acres 0.34
Road Surface Type Gravel
Road Frontage Type Public Year Round
Road Responsibility Public Maintained Road
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* Excluded FeaturesList ByPaffrath & Thomas Real EstateBroker
Affordability Calculator
- Monthly Principal & Interest
- $8,734
- Monthly Property Taxes
- $76
- Monthly Home Insurance
- --
Default based on a 30-year fixed rate of 6.375% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.
Learn more about how to save NearbyCommerical listings in Fairplay, CO
Average List Price $631,878
Percent of Sale Price 55%
About Fairplay, CO 771 Population
57% Since 2002
$ 53,879 Median Income
44.59 Median Age
29% Households with Children
Trends Information provided by ATTOM Data Solutions.
242254 Elementary School
242425 Middle School
Unknown High School High School
Pricing History| Date | Price | Price Change | Description |
|---|
| 1/24/2025 | $1,400,000 | | Listed Price |