Description
Income-Producing Investment Opportunity | Silt, Colorado Offered at $550,000 | Two Units | $38,400 in Annual Gross Scheduled Rent Discover a versatile investment opportunity at 1913 & 1915 Pioneer Dr in Silt, Colorado. Offered together for $550,000, these two separately deeded condominium units provide an opportunity to acquire an established rental property with existing income and flexible ownership possibilities. Conveniently located near downtown Silt, local amenities, and Interstate 70, this offering includes two 2-bedroom, 1-bathroom units, each with 786 square feet of living space. Combined, the property offers 4 bedrooms, 2 bathrooms, and 1,572 square feet across both units. Existing Rental Income Both units are currently rented for $1,600 per month each, generating $3,200 in combined monthly rental income and $38,400 in annual gross scheduled rent. At the current asking price, this represents an approximate 7.0% gross rental yield before expenses. Tenants pay all utilities, and both units are on month-to-month leases, offering flexibility for future rental management or potential owner occupancy, subject to applicable lease terms and laws. Multiple Investment Strategies - Dual rental income: Continue leasing both units to generate income from two rental residences. - Owner-occupant opportunity: Live in one unit while renting the other to help offset housing expenses. - Portfolio expansion: Add a two-unit rental opportunity to an existing real estate portfolio or begin building a rental investment strategy. The two-unit configuration offers flexibility for investors seeking current rental income, while the condominium format may provide a more manageable alternative to a larger multifamily property. With existing tenants, established rental income, and a convenient location in Silt, 1913 & 1915 Pioneer Dr offer an opportunity to explore the potential of a two-unit investment property for $550,000. Two units. Existing income. No reported HOA dues. Multiple possibilities. *Both condominium units and the associated Parker/Gardener Condominiums parcel are being offered together in one sale and will not be sold separately*
Details
| MLS # | 194150 |
|---|---|
| Listing Type | For Sale |
| Style | Condominium |
| Sub-Type | Resale |
| Status | Active |
| Year | 1997 |
| Days On Site | 83 |
| Listing Provided By | Real Broker, LLC | Amy Joyce |
Features
| Bed(s) | 4 |
|---|---|
| Bath(s) | 2 Total |
| SQ Feet | 1,572 |
| Car Port | Yes |
| Basement | Y |
| Story(s) | 1 |
| Zoning | PUD |
| Acreage | 0.02 |
Taxes
| Property | 2827 |
|---|
Area Information
| State | CO |
|---|---|
| County | Garfield |
| City | Silt |
| Zip Code | 81652 |
| Area | Silt |
| Community Name | Lyon Sub |
| Listing VS Median (in Lyon Sub) | |
Price: $550,000 low | high Med: $550,000 sqft: 1,572 low | high Med: 1,572 $ / sqft: $350 low | high Med: $350 On site: 83 low | high Med: 83 | |
Market Activity 81652
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Learn More About This Property
| State | CO |
|---|---|
| County | Garfield |
| City | Silt |
| Zip Code | 81652 |
| Area | Silt |
| Community Name | Lyon Sub |
| Listing VS Median (in Lyon Sub) | |
Price: $550,000 low | high Med: $550,000 sqft: 1,572 low | high Med: 1,572 $ / sqft: $350 low | high Med: $350 On site: 83 low | high Med: 83 | |