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Betsy Repaske

betsy@ownyoursummit.com +1(970) 977-9277

$ 1,400,000

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550 Castello AVE Fairplay, CO 80440

13 Beds

8 Baths

5,302 SqFt

UPDATED:

Key Details

Property Type Single Family Home

Sub Type Single Family Residence

Listing Status Active

Purchase Type For Sale

Square Footage 5,302 sqft

Price per Sqft $264

Subdivision Clark & Bogue

MLS Listing ID S1070286

Style Victorian

Bedrooms 13

Full Baths 4

Half Baths 2

Three Quarter Bath 2

Construction Status Resale

Year Built 1912

Annual Tax Amount $3,241

Tax Year 2025

Lot Size 0.340 Acres

Acres 0.34

Property Sub-Type Single Family Residence

Property Description

Exceptional investment opportunity in the heart of Fairplay! This fully remodeled, turn-key five-unit apartment style building offers immediate income potential in one of Colorado's fastest-growing mountain communities. Rich in local history, 550 Castello Avenue has been extensively renovated over the past several years, blending historic character with modern updates to create an attractive, low-maintenance asset. The property encompasses more than 5,300 square feet and features five spacious apartments totaling 13 bedrooms. Every unit has been thoughtfully updated with new kitchens, remodeled bathrooms, updated flooring, fresh interior paint, modern lighting, new water heaters, and numerous additional improvements. A new roof further enhances the property's long-term value, allowing investors to focus on generating income rather than deferred maintenance. Ideally situated just two blocks from Highway 9 and only 22 miles from world-renowned Breckenridge Resort, the location offers year-round rental demand driven by recreation, tourism, and the growing local workforce. Additional amenities include a common-area laundry room, abundant off-street parking with a wraparound driveway, an unfinished basement providing additional storage or future potential, and an on-site dumpster. Unit 1 offers 3 bedrooms, 1 bathroom, a dining room, mudroom, and ground-level access. Unit 2 features 4 bedrooms, 1¾ bathrooms, and an upper-level deck. Unit 3 includes 2 bedrooms, 1½ bathrooms, an office, and ground-level access. Unit 4 offers 2 bedrooms, 1 bathroom, a dining area, and an upper-level deck. Unit 5 features 2 bedrooms, 1 bathroom, a mudroom, walk-in pantry, walk-in closet, unfinished basement access, and ground-level entry. Whether you're expanding your portfolio or seeking a high-performing mountain investment, this rare multi-family opportunity is ready to produce income from day one. See attached floor plans and Matterport tours for additional details.

Location

State CO

County Park

Area Park County

Direction From HWY 9 in Fairplay, turn North onto Fifth Street. Turn Right onto Castello Avenue. Property located on the left, with parking available in front of the building.

Rooms

Basement Unfinished

Interior

Interior Features Cable T V

Heating Forced Air, Natural Gas

Flooring Carpet, Luxury Vinyl, Luxury Vinyl Tile, Tile

Furnishings Unfurnished

Fireplace No

Appliance Dryer, Dishwasher, Electric Range, Microwave, Refrigerator, Washer, Washer/Dryer

Laundry Common Area, Laundry Room

Exterior

Parking Features Parking Pad

Community Features Trails/ Paths

Utilities Available Electricity Available, Natural Gas Available, Sewer Available, Trash Collection, Water Available, Cable Available, Sewer Connected

View Y/N Yes

Water Access Desc Public

View City, Mountain(s)

Roof Type Asphalt

Street Surface Gravel

Building

Lot Description City Lot

Entry Level Two,Multi/Split

Foundation Poured

Sewer Connected, Public Sewer

Water Public

Architectural Style Victorian

Level or Stories Two, Multi/Split

Construction Status Resale

Others

Pets Allowed Yes

Tax ID 339

Pets Allowed Yes

Virtual Tour https://my.matterport.com/show/?m=D4CA4spSdZ2

Listed by Paffrath & Thomas R.E.S.C (970) 453-0466

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