Description
Condo D includes four deed-restricted residential units within the historic Old Firehouse building. The offering consists of three 1-bedroom/1-bath condos and one studio with a full bath. All units are newly finished and include an oven/range, refrigerator, dishwasher, washer, and dryer. Each residence also comes with a dedicated storage area and covered carport, and an elevator provides access to the residential level. The in-town location offers walkable access to restaurants, shopping, schools, parks, and community amenities. The deed restriction is income-based only, set at 140% of Area Median Income, with approximately 17 years remaining before the units convert to free-market status. Current rents are below the maximum allowable levels and still produce over a 5% return at the full asking price, offering stable performance with future upside. Workforce housing remains one of the most consistently sought-after segments in Ridgway and the surrounding region. Local employers across hospitality, education, healthcare, trades, municipal services, and recreation rely on attainable, well-located units like these to meet year-round staffing needs. With limited inventory and ongoing demand, units of this type remain highly successful rentals with dependable occupancy. Ridgway’s central position between two major employment hubs strengthens long-term demand. Ouray, approximately 10 minutes away, supports steady year-round jobs tied to tourism, lodging, and local services. Telluride, roughly 45 minutes west, is a major four-season destination with significant employment in hospitality, events, outdoor recreation, construction, and professional services. Many who work in Telluride choose to live in Ridgway for improved housing access and community amenities, making these units well-situated for a broad pool of renters. With reliable rental performance, walkable in-town convenience, and free-market conversion potential in the future, Condo D offers a balanced blend of present-day income and long-term value in a high-demand San Juan Mountain market.
Details
| MLS # | 830826 |
|---|---|
| Listing Type | For Sale |
| Sub-Type | New Construction |
| Status | Active |
| Year | 2024 |
| Days On Site | 230 |
| Listing Provided By | Keller Williams Realty Southwest Associates, LLC - Montrose | Colleen Aller |
Features
| Bath(s) | 4 Total |
|---|---|
| SQ Feet | 3,424 |
| Car Port | Yes |
| Story(s) | 1 |
| Units | 4 |
| Zoning | Live/Work,Residential Multi Fami |
| Property View | Yes |
Interior
| Heating Yes / No | Yes |
|---|---|
| Heating | Heat Pump |
| Interior Features | Window Treatments |
| Window Features | Window Coverings |
| Furnished | Unfurnished |
| Appliances | Dryer, Dishwasher, Oven, Range, Refrigerator, Washer |
Exterior
| Exterior Features | Deck |
|---|---|
| Roof | Metal |
| Construction Materials | Metal Siding, Stone |
| Foundation Details | Permanent |
Parking
| Garage Yes / No | No |
|---|---|
| Parking Features | Off Street, One Space |
Other
| List Aor | Montrose Association Of Realtors |
|---|
Taxes
| Property | 5732 |
|---|
Area Information
| State | CO |
|---|---|
| County | Ouray |
| City | Ridgway |
| Zip Code | 81432 |
| Area | Ridgway |
| Community Name | Other |
| School District | Ridgway 9-12 |
| Elementary School | Ridgway K-5 |
| High School | Ridgway 9-12 |
| Listing VS Median (in Other) | |
Price: $1,490,000 low | high Med: $549,999 sqft: 3,424 low | high Med: 2,325 $ / sqft: $435 low | high Med: $237 On site: 230 low | high Med: 102 | |
Market Activity 81432
Request a showing
Request a showing
The data relating to real estate for sale on this web site comes in part from the Internet Data Exchange (IDX) program of Colorado Real Estate Network, Inc. (CREN), © Copyright 2026. All rights reserved. All data deemed reliable but not guaranteed and should be independently verified. This database record is provided subject to “limited license” rights. Duplication or reproduction is prohibited.
FULL CREN Disclaimer
Real Estate listings held by companies other than CREN contain that company’s name.
Fair Housing Disclaimer
Contact
Learn More About This Property
| State | CO |
|---|---|
| County | Ouray |
| City | Ridgway |
| Zip Code | 81432 |
| Area | Ridgway |
| Community Name | Other |
| School District | Ridgway 9-12 |
| Elementary School | Ridgway K-5 |
| High School | Ridgway 9-12 |
| Listing VS Median (in Other) | |
Price: $1,490,000 low | high Med: $549,999 sqft: 3,424 low | high Med: 2,325 $ / sqft: $435 low | high Med: $237 On site: 230 low | high Med: 102 | |