11-Unit Multifamily Investment in Downtown Cortez, CO | 6.67% Cap | Adobes on Ash

Описание: Welcome to Adobes on Ash, a rare 11-unit multifamily investment located just one block off Main Street in downtown Cortez, Colorado. This historic property is the first multifamily building ever constructed in Cortez and offers a strong history of tenant stability and consistent income.

With an estimated 6.67% cap rate, this asset provides dependable cash flow today along with long-term appreciation and value-add potential. Zoned Central Business District (CBD), the property allows for future expansion, mixed-use possibilities, and second-story additions (buyer to verify with Town of Cortez Planning).

📍 Property Highlights

11 residential units (grandfathered residential use)

Downtown, walkable location with easy parking

Extremely low local vacancy rate (~1.4%)

Fiber internet available

Additional development potential along north alley

Strong demand in a supply-constrained rental market

🌄 Why Cortez?
Cortez is a thriving Southwest Colorado town near Mesa Verde National Park, surrounded by public lands and outdoor recreation. The area continues to attract residents, investors, and remote workers seeking affordability, lifestyle, and stability.

This property is ideal for investors looking for a long-term hold, value-add opportunity, or diversification asset in a growing rural market.

📞 Listed by
Allison Klein 970-946-9409
United Country Blue Sky Homes and Land