203 S Reed Street

Description

This incredible property has 5 separate rental spaces which consists of the following: 3 bed/2 bath home with the tenant paying electric and gas. The primary bedroom has a full en-suite bathroom. There is a nice sized living area with fireplace and large kitchen with its own washer and dryer. New Marvin windows have been installed. Units 1 and 2 are 1 bed/3/4 bath each. Unit 3 is 1 bed/1 bath. The tenants in Units 1, 2 and 3 pay for their electric. Unit 4 is a studio unit with 3/4 bath and seller pays electric. Seller pays sewer, water and trash. See Documents for utility history. There is a nice sized fenced yard and the residence has beautiful mature trees. The common parking area is located at the front of the building and there is some parking in the alley at the rear. The units have maintained 100% occupancy. The current yearly gross rental income is $55,800.00. This property has been consistently and meticulously maintained and seller has provided over $80,000.00 in improvements since 2016 and includes a new utility/mechanical room. This property represents a fantastic investment opportunity or is perfect for anyone looking to occupy and rent the other units. The property is right on the boundary of commercial and residential zoning and may allow an additional commercial or residential building to be constructed. Buyer should contact the City of Gunnison to determine such ability. There is an RV on the property that will be removed prior to closing.