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Jordan Wagner

jordan@wagners.ws +1(720) 445-2402

$ 1,400,000

Est. payment | -/mo

13 Beds

7 Baths

5,302 SqFt

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$ 1,400,000

Est. payment | -/mo

Save Virtual Tour

13 Beds

7 Baths

5,302 SqFt

Key Details

Property Type Single Family Home

Sub Type Single Family Residence

Listing Status Active

Purchase Type For Sale

Square Footage 5,302 sqft

Price per Sqft $264

Subdivision Clark And Bogue

MLS Listing ID 3747128

Bedrooms 13

Full Baths 5

Half Baths 1

Three Quarter Bath 1

HOA Y/N No

Abv Grd Liv Area 4,543

Year Built 1912

Annual Tax Amount $3,241

Tax Year 2025

Lot Size 0.340 Acres

Acres 0.34

Property Sub-Type Single Family Residence

Source recolorado

Property Description

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.

Location

State CO

County Park

Rooms

Basement Finished

Main Level Bedrooms 7

Interior

Interior Features Ceiling Fan(s)

Heating Forced Air, Natural Gas

Cooling None

Flooring Carpet, Tile, Vinyl

Fireplace N

Appliance Dishwasher, Dryer, Gas Water Heater, Microwave, Range, Refrigerator, Washer

Laundry Common Area

Exterior

Utilities Available Cable Available, Electricity Connected, Natural Gas Connected

View City, Mountain(s)

Roof Type Shingle

Total Parking Spaces 10

Garage No

Building

Foundation Concrete Perimeter

Sewer Public Sewer

Water Public

Level or Stories Two

Structure Type Stucco

Schools

Elementary Schools Edith Teter

Middle Schools South Park

High Schools South Park

School District Park County Re-2

Others

Senior Community No

Ownership Corporation/Trust

Acceptable Financing 1031 Exchange, Cash, Conventional

Listing Terms 1031 Exchange, Cash, Conventional

Special Listing Condition None

Virtual Tour https://my.matterport.com/show/?m=D4CA4spSdZ2

Listed by Paffrath & Thomas Real Estate

Nearby Locations

"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "

+1(720) 445-2402

jordan@wagners.ws

5437 S Prince St, Littleton, CO, 80120-1123, USA

550 Castello AVE Fairplay, CO 80440

Jordan Wagner

Key Details

Location

Rooms

Interior

Exterior

Building

Schools

Others

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550 Castello AVE