Active

$1,695,000

232 Main Street, Ouray, CO 81427

5beds

3,408sqft

$10,418/mo

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Fiveplex

Built in 1888

-- sqft lot

$-- Zestimate^®

$497/sqft

$-- HOA

What's special

Magical mountain viewsExpansive upper balcony

Exceptional investment opportunity that has it all: LOCATION, CAP RATE of 7%, and EXEMPTION from City's STR rules/guidelines/STR taxes - all due to its zoning! Situated on Main St in the heart of beautiful Ouray Colorado, otherwise known as the Switzerland of America, this turn key property has 5 separate fully remodeled 1 bedroom, 1 bath apartments. Currently being operated as an STR with an attractive return on investment , the property also has the opportunity to be long term rentals or a residence. With its expansive upper balcony, it boasts some of the "best seats in the house" for magical mountain views and the renowned City of Ouray's fireworks shows on July 4th and NYE. All current bookings can transfer with a sale, providing a new owner with income from Day 1. Come explore this one of a kind opportunity!

14 days
131
7

Likely to sell faster than

Facts & features

Interior

Bedrooms & bathrooms

Bedrooms: 5
Bathrooms: 5
3/4 bathrooms: 5

Dining room

Features: Living Room Dining

Appliances

Included: Dryer, Range, Refrigerator, Washer

Features

Basement: Walk-Out Access,Finished

Interior area

Total structure area: 3,408
Total interior livable area: 3,408 sqft

Property

Parking

Total spaces: 6
Parking features: 1 per unit, Detached Garage
Garage spaces: 2

Features

Levels: Two
Stories: 2
Has view: Yes
View description: Mountain(s)

Lot

Size: 4,356 Square Feet

Details

Parcel number: 451531308016
Zoning description: Live/Work,Other,Residential Multi Family

Construction

Type & style

Home type: MultiFamily
Property subtype: Fiveplex

Materials

Roof: Architectural Shingles

Condition

New construction: No
Year built: 1888

Utilities & green energy

Sewer: City Sewer
Water: City Water
Utilities for property: Metered for Electricity, Metered for Gas

Community & HOA

Community

Subdivision: Other

HOA

Has HOA: No

Location

Region: Ouray
Elevation: 7800

Financial & listing details

Price per square foot: $497/sqft
Tax assessed value: $866,360
Annual tax amount: $14,664
Date on market: 9/23/2026
Listing terms: 1031 Exchange,Conventional,Other
Road surface type: Paved

Estimated market value

Not available

Estimated sales range

Not available

Price history

Date	Event	Price
6/16/2026	Listed for sale	$1,695,000+32.9%$497/sqft
Source: CREN #836067 Report a problem
6/29/2022	Sold	$1,275,000-1.9%$374/sqft
Source: Public Record Report a problem
5/16/2022	Listed for sale	$1,300,000+73.6%$381/sqft
Source: CREN #793467 Report a problem
9/11/2020	Listing removed	$749,000$220/sqft
Source: Ouray Brokers #771228 Report a problem
9/1/2020	Price change	$749,000-6.3%$220/sqft
Source: Ouray Brokers #771228 Report a problem
6/24/2020	Listed for sale	$799,000+78.3%$234/sqft
Source: Ouray Brokers #771228 Report a problem
5/31/2018	Sold	$448,000+156%$131/sqft
Source: Public Record Report a problem
12/31/2010	Sold	$175,000-54.3%$51/sqft
Source: Public Record Report a problem
9/3/2004	Sold	$383,000$112/sqft
Source: TRIDEMLS #16699 Report a problem

Public tax history

Year	Property taxes	Tax assessment
2025	$19,720 +6.9%	$233,910 -26.4%
2024	$18,447 +374.2%	$317,620 -6.3%
2023	$3,890 +76.7%	$338,840 +903.7%
2022	$2,202 +27.2%	$33,760 -4.9%
2021	$1,731	$35,500 +27.6%
2020	$1,731 +6.1%	$27,830 +0.9%
2019	$1,632 +0.9%	$27,590 +6.4%
2018	$1,617	$25,940
2017	--	$25,940 +4.1%
2016	--	$24,910
2015	--	$24,910 -63.3%
2012	--	$67,920 +193.5%
2011	--	$23,140 -26.7%
2009	--	$31,590