Address
312 1st Street, Severance, CO
Price
$ 1,075,000
Property Attributes
  • MLS#4095418
  • TypeMulti-Family
  • CountyWELD
  • CitySeverance
  • NeighborhoodSeverance Town
  • Zip80546
  • StyleTriplex
  • Year Built1948
  • Taxes$ 9443
  • Price$ 1,075,000
  • Bedrooms2
  • Full Bathrooms3
  • Half Bathrooms0
  • Sqr Footage7835
  • Lot Size0.69 Acres
Data Source:
REColorado (MTOMLS)
Property Description

Live and work in this incredible mixed-use property on 1st street in the heart of Severance Colorado. This one of a kind property blends historical character with modern amenities. With three separate units, two residential and one industrial, this property will immediately generate income and provide long-term redevelopment potential. Main floor residential unit is 1BR, 2BA with full kitchen, office, washer/dryer hookups and spacious living area. Upstairs, a separate, modern studio apartment with kitchenette and updated 3/4 bath has a long history as a short term rental with over 260 occupied nights in 2023. Residential units share access to outdoor patio space with hot tub hookups, garden shed, and parking spaces for two RVs or travel trailers. The residential portion is separated from the industrial unit by a 2hr fire wall and a lobby/storage area with fire suppression system that protects the entire residential portion of the property. The Industrial unit totals 4,837SF of which, 3,570SF is a fully insulated and heated shop w/new 13ft overhead roll up door, overhead radiant heating, new lighting, and a private bathroom with shower. Entire building's insulation was updated w/closed cell foam. Stub ins for second bathroom are available. 400 amp electrical service is newly updated from recent tenant finish. 1,267SF of unconditioned storage space is immediately adjacent to main shop with an exterior 10ft overhead roll up door and interior access directly to main shop by man door. Industrial space includes 16,000SF fully fenced storage yard with access from both 3rd ave and 2nd st. Entire parcel consists of 8 city lots with an additional sewer drop on 3rd st for future building/development.

Elementary School Middle School High School
Range View Elementary School Severance Middle School Severance High School
Price History
2/1/2024 Listed $1,075,000

General Features

Interior Features Ceiling Fan(s),Entrance Foyer,In-Law Floor Plan,Utility Sink
Sewer Public Sewer
Heating Baseboard,Heat Pump,Radiant
Cooling Central Air,Other
Utilities Electricity Available,Natural Gas Available
Possession Rental Agreement
Roof Metal
Exterior Features Garden,Private Yard
Zoning Town Core
Garage Spaces 17
Patio/Porch Features Patio
Construction Materials Concrete,Metal Siding
Exclusions All items of Seller's and Tenant's personal property
Year Built 1948
Electric 110V,220 Volts,Phase 3
Tenant Pays Electricity,Gas,Grounds Care,Water
View City
Levels Two
Property SubType Triplex
Tax Year 2023
Current Use Live/Work
Percent Ownership Individual
Gross Income 114910.04
County Weld
Operating Expense 23543.15
Property Type Residential Income
HOA / Comm Assn No
Attached Garage Yes
Energy Efficient Insulation
Subdivision Name Severance Town
Status Active
High School Severance
City Severance
Buyer Agent Compensation 3.0
Senior Community Y/N No
High School District Weld RE-4
Lot Size Square Feet 30056.4
Street Name 1st
Elementary School Range View
Tax Annual Amount 9443.15
Middle/Junior High School Severance
Property Condition Updated/Remodeled
Structure Type Triplex
Standard Status Active
Occupancy Description Owner
Middle/Junior School District Weld RE-4
Elementary School District Weld RE-4
Cap Rate 8.49
Buyer Agent Compensation Type %

Interior Features

Flooring Carpet,Vinyl
Basement (Y/N) No
Above Grade Finished Area 7835
Street Suffix Street
Laundry Features In Unit,Main Level
Total Bedrooms 2
Total Baths 3

Exterior Features

Fencing Full
Parking Features 220 Volts,Heated Garage,Insulated Garage,Oversized Door,RV Garage
Lot Features Landscaped,Level,Sprinklers In Front,Subdividable
Water Source Public
Total Parking 17
Lot Size Area 0.69
Building Area Total 7835
Lot Size Acres 0.69
Lot Size Units Acres
Road Responsibility Public Maintained Road

Amenities

  • Foreclosure
  • Views
  • Short Sale
  • New Construction
  • Adult 55+
  • Lease To Own
  • No HOA Fees
  • Furnished
  • Primary On Main
  • Air Conditioning
  • Seller Finance
  • Green
  • Fixer Upper
  • Horse
  • Golf
  • Fireplace
  • Deck
  • Garage
  • Basement
  • Pool

Property vs Multi-Family Average in 80546

Price
AVG $1.08M
$1.08M
Taxes
AVG $9,443
$9,443
Visits
AVG 33
32
Data Provided by Inside Real Estate®
Year Built
AVG 1948
1948