Ouray 6-Plex

This 6-plex was existing housing that was affordable, though it was not protected by any rent control measures. When the Home Trust learned it was for sale, we moved to purchase it in order to keep it affordable. All existing tenets will remain in their homes.

The Home Trust purchased this property in March of 2023 for $1.25M and obtained $100k from the City of Ouray, $100k from Ouray County, and $100k from a private donor for a total of $300k toward the down payment. An injection of funding is critical to ensure debt and operating costs are covered without having to substantially increase the rents.

# Units           Area               Bedrooms       Current Rent  
2                     600 sqft          1-bed                $600/mo       
3                     960 sqft          2-bed                $800/mo         
1                      1200 sqft         2-bed                $800/mo         

Renovation plans include a finished laundry room with a commercial washer and dryer, new kitchen cabinetry in two apartments, storage, and new flooring in the hallway to the carport. We are working with Energy Outreach Colorado, EcoAction Partners, and SMPA to implement energy efficiency upgrades to lower utility bills, and with Clearnetworx to obtain lower-cost internet rates through their low-income program.