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The Historic Lathrop House


Montrose, CO   Offered for sale at $800,000
 

Rare opportunity to purchase a landmark 1902 Victorian in downtown Montrose. The Lathrop House continues to present the finest "turn of the century" architecture while proudly displaying the National Historic Registry designation. Pride of ownership over the past century reflected throughout all 3 levels of the home which is now optimized for B&B use, as well as long term rental income. The kitchen features 2 refrigerators, 2 ovens and plenty of cabinet space, and granite countertops. Living areas; entry, parlor, living room, and dining room are drenched in period finishes, fixtures, and furniture. The first floor also has a large bedroom with private bathroom and stackable washer/dryer. A bonus room is perfect for office or den. The second level includes 3 guest rooms, 1-1/2 baths, plus a lock-off efficiency suite, bathroom, mini-kitchen and laundry with exterior entry. Penthouse apartment is on the 3rd story is complete with bedroom, bathroom, kitchen, wet bar, 4 built-in desks, living room and outside entrance. Decor in this space is Colorado Lodge. Huge cottonwood trees canopy the front that includes an elegant wrap-around porch, plus two fenced in patios on the West and East and a deck in the second floor, sprinkler system, fencing and flowers. This beautiful one of a kind home is offered turn-key including almost all personal property on site. (there is a small list of exclusions) New boiler for home was installed in 2018. This multi purpose home offers you many opportunities!! This Victorian style can be "home sweet home" or apartments or a B&B or an office/home combo or... Use your imagination. Includes a 2 car detached garage in the alley along with 5 private parking spaces plus on-street parking in front. You get Main Street frontage with peace and tranquility at the same time. CAP rate for this property is 5%. Don't miss out on this one!!
OWNER FINANCING:
Owner finance:
15% down
6% interest rate
20 year amortization
4 year balloon



Property Details
Financial Details
  • Offered for sale at $800,000
  • Occupancy Rate: contact agent
  • Terms: Cash, Conventional, 1031, Owner Finance
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