Build your dream home OR an income property in the booming Willits area of Basalt (20 minutes outside Aspen). This is the only undeveloped lot that backs to open space AND allows for an ADU (a rentable apartment unit that is separate from the primary residence). ADU's are leasing for $1,700+ per month in this subdivision, which significantly reduces your mortgage payment. Vacant lots in this subdivision sold for $350,000 to $400,000 at the height of the market, so plenty of room for continued appreciation in a buy/hold scenario, or build a home with potential for a sizable immediate return. Market data: Sales of single-family homes (freestanding houses) in this subdivision have ranged in price from $780,000 to $1,085,000 since May 2016, while the five current active listings range in price from $819,000 to $949,000. The only sale of a newly constructed home with an ADU in Willits sold in March 2015 for $1,000,000. Excellent investment opportunity!
This property is off market, which means it's not currently listed for sale or rent on Zillow. This may be different from what's available on other websites or public sources.
