550 Castello Avenue
Fairplay, CO, 80440 $ 1,395,000
Bedrooms13 Baths6.1 Sq 5,302 Monthly Estimate*
$ 9,635
Listed by Paffrath & Thomas Real Estate
for $1,395,000 with 13 bedrooms and 6 full baths, 1 half bath. This 5,302 square foot home was built in 1912 on a lot size of 0.34.
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 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.
See more
FeaturesGeneralLiving Area 5302
Sewer Public Sewer
Heating Forced Air Natural Gas
Cooling None
Utilities Cable Available Electricity Connected Natural Gas Connected
Roof Shingle
Appliances Dishwasher Dryer Gas Water Heater Microwave Range Refrigerator Washer
Garage Spaces 0
Patio/Porch Features Deck
Construction Materials Stucco
Year Built 1912
Electric 110V 220 Volts
View City Mountain(s)
Levels Two
Property Subtype Single Family Residence
Parcel Number 339
County Park
Property Type Residential
HOA N
Attached Garage N
Subdivision Name Clark and Bogue
Full Baths 5
Directions From HWY 9 in Fairplay turn North onto Fifth Street. Turn Right onto Castello Avenue. Property located on the left with parking available in front of the building.
High School South Park
City Fairplay
Senior Community Y/N N
High School District Park County RE-2
Lot Size Units Acres
Lot Size Square Feet 14810.4
Carport Spaces 0
Elementary School Edith Teter
Property Attached Y/N N
Tax Annual Amount 3241
Middle/Junior High School South Park
Virtual Tour https://my.matterport.com/show/?m=D4CA4spSdZ2
Standard Status Active
Middle/Junior School District Park County RE-2
Elementary School District Park County RE-2
Freehold IDX
See more
InteriorInterior Amenities Ceiling Fan(s)
Basement Finished
Flooring Carpet Tile Vinyl
Half Baths 1
1/4 Baths 0
3/4 Baths 1
Laundry Features Common Area
Total Bedrooms 13
Total Baths 7
See more
ExteriorWater Source Public
Lot Size Area 0.34
Foundation Details Concrete Perimeter
Lot Size Acres 0.34
See more
* Excluded FeaturesList ByPaffrath & Thomas Real EstateBroker
kevin@ptbreck.com,970-485-4665Contact
Affordability Calculator
- Monthly Principal & Interest
- $9,635
- Monthly Property Taxes
- $270
- Monthly Home Insurance
- --
Default based on a 30-year fixed rate of 7.375% 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 NearbySingle family listings in Fairplay, CO
Average List Price $766,062
Percent of Sale Price 45%
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.
863524 Elementary School
864841 Middle School
South Park High School High School
Pricing History| Date | Price | Price Change | Description |
|---|
| 9/21/2026 | $1,395,000 | -0.36% | Price Down |
| 7/9/2026 | $1,400,000 | | Listed Price |