455 High Llama LnDurango, CO 81301

This exceptional investment opportunity encompasses two separately deeded parcels totaling 25 acres of land situated on High Llama Lane in Durango, Colorado. Located at the edge of Durango's city limits, this property presents significant development potential. The land is zoned for medium-density residential use, allowing for up to 12 units per acre. This translates to a substantial number of potential residential units given the current high demand for housing in Durango, where average home prices exceed $900,000. The property is free from homeowner's association (HOA) fees and covenants, simplifying the development process. City annexation will be required. Conveniently located, central water and sewer services are readily accessible just south of the property at the intersection of High Llama Lane and Wilson Gulch Road. Currently, a 3-bedroom home (built in 1981) and a guest apartment generate rental income. The home rents for $1,000 per month, and the guest apartment rents for $700 per month, both with leases expiring May 1, 2025. The asking price of $3,600,000 does not include the value of the existing improvements. Annual property taxes are $3,095. This property offers a compelling opportunity for developers seeking a high-return investment in a thriving Colorado market. The zip code is 81301.