327 Elk Avenue is an irreplaceable piece of Crested Butte history — a lovingly restored historic building on the town’s most iconic street, fully leased and producing income from three distinct spaces. The owners have been thoughtful stewards of the property, investing in a complete commercial renovation, new roof, new exterior stairs, landing and back deck, new furnace, and numerous additional up
327 Elk Avenue is an irreplaceable piece of Crested Butte history — a lovingly restored historic building on the town’s most iconic street, fully leased and producing income from three distinct spaces. The owners have been thoughtful stewards of the property, investing in a complete commercial renovation, new roof, new exterior stairs, landing and back deck, new furnace, and numerous additional updates throughout. The building is in excellent condition and ready to perform for its next owner. The 908 square foot ground-floor commercial space commands some of the finest Elk Avenue frontage in town, with full renovation including all new electrical, plumbing, insulation, and systems. Upstairs, a fully remodeled four-bedroom, two-bath apartment offers granite countertops, stainless appliances, gas fireplace, Lutron lighting, built-in sound system, commercial grade WiFi, and a smart home system. At the rear of the building, a one-bedroom apartment with full kitchen, generous closet, and its own washer and dryer rounds out the income picture. Two parking spaces in the rear and sweeping views of Red Lady, Gothic, and White Mountain add to the appeal. You could owner-occupy the residential while the commercial and second unit generate income, convert to a boutique hotel or lodge with conditional use approval, or pursue condominium conversion with each unit sold separately. Few properties in Crested Butte offer this many paths forward. Three solid income streams. A lovingly cared for historic building. One of the best addresses in Crested Butte.
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Property type
Other
Year built
1890
Price/sqft
$1,000
Features
Fireplace
Mountain View
Garden
Terrace
2D Floor Plan
Outdoor Living Space
Gas Stovetop
Parking
Panoramic / Scenic View
Features
Lot
Panoramic / Scenic View
Mountain View
Indoor
Fireplace
Gas Stovetop
Washer Dryer
Bar
Stone Countertops
Outdoor
Terrace
Balcony
Parking
Outdoor Living Space
Garden
Explore the Area
327 Elk Avenue , Crested Butte, CO 81224, Colorado, United States
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Colorado’s ‘Last Great Ski Town,’ Crested Butte is known for its funky charm and immense beauty. Located in the Elk
Colorado’s ‘Last Great Ski Town,’ Crested Butte is known for its funky charm and immense beauty. Located in the Elk Mountains at an elevation of 8,909 feet, the town of Crested Butte began in the 1870s as a supply point for prospectors. Named after the distinctive peak nearby, Crested Butte soon became a hub for coal mining, and later transitioned into a ski town. Lately, it has become a year-round outdoor recreational hub for skiers, mountain bikers, hikers, fishermen and women, hunters, and boaters alike. In the early 1960s, Dick Eflin and Fred Rice bought a ranch three miles northeast of Crested Butte and converted it into a ski area, complete with one of the first gondolas in the state. It is now home to the town of Mt. Crested Butte and Crested Butte Mountain Resort. The ski area boasts 15 lifts accessing 121 trails including world-class extreme runs on the North Face and Headwall. The town of Crested Butte holds on to its mining past with original clapboard homes and businesses in an array of bright colors dotting Elk Avenue and throughout the entire town. Historic charm throughout the town and a top-10 rated public school continue to draw new homeowners throughout the valley. The brokers of LIV Sotheby’s International Realty’s Crested Butte office love the outdoors and sharing their trail recommendations and experiences with visitors and locals alike. The office is located in the middle of downtown Crested Butte at 401 Elk Avenue. Contact one of our broker professionals today to learn more about Crested Butte real estate opportunities. Specialization: Resort Properties, Land & Acreage, Farm & Ranch Properties
Coverage Area: Crested Butte, Mt. Crested Butte, Crested Butte South, Almont, Gunnison, Arrowhead, Blue Mesa Reservoir, Irwin, Lake City, Tincup, Pitkin, Powderhorn