Browse All Pagosa Springs CO Multi-Family Properties for Sale

Prime development parcel PUD. Welcome to X Talisman Drive, an expansive and flat buildable lot located in the heart of the core area. This prime piece of real estate offers stunning panoramic views and is conveniently situated across the street from the golf course and PLPOA Rec Center. With easy access to local amenities and prepaid water taps, this lot is ready for your vision. Zoned for multi-family use, it offers a range of possibilities. The property also features a serene pond, adding to the peaceful ambiance. Don't miss this opportunity to build something special in a highly desirable location.

x X Talisman Dr, Pagosa Springs

$565,000

2 Baths ⋅ 833806 MLS

A rare opportunity to acquire a fully stabilized, income-producing duplex fronting the fairways of the Pagosa Springs golf course, delivering a solid 6% cap rate with NOI already in place and no lease-up risk to navigate. Each unit offers 1,170 SqFt of well-proportioned living space with 2 bedrooms and 1 bathroom; a floor plan that matches the strong rental demand this market consistently produces. The lower unit has undergone significant renovation, adding modern appeal and reducing near-term capital expenditure needs. A newly constructed balcony deck on the upper unit enhances outdoor living for tenants, and a fresh coat of stucco across the entire exterior in 2024 and a new roof in 2022 delivers excellent curb appeal. The result is a turn-key asset that looks great and performs from day one. Quality multifamily in Pagosa Springs rarely comes to market, this is one of the very few stabilized opportunities currently available. The area's year-round appeal is unmatched in Southwest Colorado: home to the world's deepest geothermal hot springs, Wolf Creek Ski Area with some of Colorado's highest annual snowfall, and direct access to the San Juan National Forest. A vibrant town center, the San Juan River corridor, and growing remote-work migration all fuel consistent, multi-season rental demand and keep vacancy tight. For investors seeking reliable Colorado mountain exposure, the combination of scarcity, location, and immediate cash flow is difficult to replicate.

430 E Golf Pl, Pagosa Springs

$630,000

2 Baths ⋅ 832862 MLS

Great duplex investment opportunity located on a corner lot in Lake Pagosa Park. Each unit offers approximately 840 square feet with 2 bedrooms and 1 full bathroom, providing comfortable and functional living spaces. Both units include full kitchens all appliances convey, including washers and dryers. Each side also features an attached one-car garage adding convenience and additional storage. The property is located near the lake with lake access in close proximity making it an attractive location for tenants or future occupants. This duplex presents a solid investment opportunity with a cap rate just under 6% and offers multiple options for use, including long-term rental income or owner occupancy with rental potential. Showing Instructions: Please coordinate showings with the broker. 24-hour notice required as both units are currently occupied.

29 Monument Ave, Pagosa Springs

$669,000

5 Baths ⋅ 832651 MLS

Accepting Offers until Tuesday March 24 by 5 PM MST. Offered for the first time ever, Day Apartments present a rare and compelling investment opportunity with deep local roots, having been owned by the Day family for over 80 years. Originally developed in 1965 to support local housing needs, this solidly constructed four-plex stands as a testament to quality and longevity. Each of the four nearly identical 800 square foot units offers a spacious living area, an eat-in kitchen complete with pantry, two comfortable bedrooms, and one full bathroom. Tenants will enjoy private rear balcony or patio access with peaceful views overlooking the San Juan River, creating an inviting and desirable living environment. A shared basement laundry area adds convenience and functionality for all units. Also included on the 1-acre parcel is a charming 636 square foot cabin featuring one bedroom and one bathroom—ideal for additional rental income, guest accommodations, or owner occupancy. With all units currently vacant, this property is primed for its next owner to establish market rents, pursue long-term or short-term rental strategies, or reimagine the space entirely. With its unique setting, strong rental potential, and legacy ownership, Day Apartments offer endless possibilities for investors and visionaries alike. Conveniently located just 5 minutes from downtown Pagosa Springs—home to renowned hot springs, dining, and shopping—and only 25 minutes from Wolf Creek Ski Area, this property combines heritage, and accessibility in one extraordinary package.

2530 E Hwy 160, Pagosa Springs

$35,000

793306 MLS

Both Lots for $70,000. and tap fees paid.This is a great lot with all utilities to the property and tap fees paid. Tucked into the trees, this is ideal for a single family or a triplex as this is residential and multi-family P.U.D. zoned. Close to the lake, shopping, restaurants, grocery store and more. Driveway access has already been permitted, paid for and rough cut in. You really have to walk this property, it is beautiful. The lot contiguous to this is also available at 2090 CR 600 (same owner) so both are available giving you almost a full acre and make this a 6-plex or possibly more. Paved roads to property. Seller has a set of plans that has been approved by PLPOA for a 3/2 stick built SFR and the stakes are already set for this layout. This is just waiting for you.

2116 County Road 600, Pagosa Springs

$140,000

819946 MLS

Double multi-family lot (.94 acre) with mountain views in San Juan River Village which is the last Pagosa Springs neighborhood toward the Wolf Creek Ski Area. San Juan River Village boasts strong sales because of its location and beauty. The lot has electricity, natural gas, telephone and water/sewer service. Property owners have access to private fishing along the San Juan River and stocked ponds as well as private access into the San Juan National Forest. This is an ideal lot to build multi-family dwellings because of the neighborhood's strong short-term rental history thanks to it's proximity to the Wolf Creek Ski Area.

459 Alpine Dr, Pagosa Springs

$35,000

793305 MLS

Both Lots for $70,000. and tap fees paid. is a great lot with all utilities to the property and tap fees paid. Tucked into the trees, this is ideal for a single family or a triplex as this is residential and multi-family P.U.D. zoned. Close to the lake, shopping, restaurants, grocery store and more. Driveway access has already been permitted, paid for and rough cut in. You really have to walk this property, it is beautiful. The lot contiguous to this is also available at 2116 CR 600 (same owner) so both are available giving you almost a full acre and make this a 6-plex or possibly more. Paved roads to property. Seller has a set of plans that has been approved by PLPOA for a 3/2 stick built SFR and the stakes are already set for this layout. This is just waiting for you.

2090 County Road 600, Pagosa Springs

$46,000

808916 MLS

This is an R3 multi family lot. It is level and situated on a paved road with electric, water, phone and sewer available. Centrally located near shopping and amenities. The extensive Pagosa Lakes walking path is in the front of this larger lot. Lots of various opportunities with this property.

1969 Vista Blvd, Pagosa Springs

$775,000

826725 MLS

Price reduction to get this moved! Development potential for single family or multi-family. Located in the heart of the southside of downtown, with mountain and Res Hill views, the original 5 city lots have been subdivided into 8 lots. Zoned for up to 19 units, this rare parcel can be replatted to accomodate condos, townhomes, or single-family. The location is perfect for any of these, in this growing, thriving downtown area. Steps away from all the action of the Riverwalk, Yamaguchi Park, dog walk/park, pickleball courts, Res Hill, this parcel has access to all utilities, with no current HOA and is the start of great things to come. This amount of land, for a small development, is like no other in this charming mountain town. What other mountain town has this availability, at this price...

X Apache St, Pagosa Springs

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