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$1,799,000

Unfinished 3-Bed | 2-Bath Luxury Penthouse with Rooftop Balcony & Panoramic Mountain Views Step into one of Ridgway’s most remarkable residential offerings — Condo E, the Penthouse at the Old Firehouse. This top-floor, 3-bedroom, 2-bath luxury shell combines historic character, modern architecture, and a rare opportunity to complete the interior to your exact taste. High ceilings, abundant natural light, and an intuitive floorplan set the stage for a truly elevated mountain-town residence. Indoor/outdoor living with show-stopping mountain views. Along the east side, full-height glass walls open directly onto a private rooftop balcony overlooking Ridgway’s beloved Town Park. This exceptional outdoor living space features a two-sided indoor/outdoor fireplace, creating a seamless transition between the great room and the terrace. From sunrise glow to alpenglow sunsets, you’ll enjoy unobstructed panoramic views of the Cimarron and San Juan Mountains — a breathtaking backdrop for quiet mornings, dinner parties, or relaxing under the Colorado sky. A luxury canvas ready for your final vision. Construction is already well underway, and major systems are in place. What remains — trim, flooring, kitchen installation, fixtures, and final finishes — allows you to customize every detail. Whether your style leans toward modern mountain, rustic elegance, or minimalist luxury, this Penthouse gives you the freedom to design without compromise. Prime in-town living in an iconic Ridgway landmark. Set within the carefully restored Old Firehouse, this residence is just steps from restaurants, shops, parks, and the creative district. With Ridgway’s thriving lifestyle scene and easy access to Ouray, Telluride, and the San Juan region, this address offers both convenience and adventure. Key Features: • Unfinished luxury Penthouse with premium customization potential • 3 bedrooms | 2 bathrooms | open, light-filled layout • Glass walls opening to private rooftop balcony • Two-sided indoor/outdoor fireplace • Panoramic Cimarron + San Juan Mountain views • Overlooks Ridgway Town Park • Historic building with modern infrastructure • A rare opportunity in a limited-inventory market For buyers seeking a standout residence with unmatched views and the freedom to finish it their way, the Penthouse at the Old Firehouse is truly one of a kind.

3 Beds ⋅ 2 Baths ⋅ 20260080 MLS

185 N Lena Street Unit #Condo "E", Ridgway

$1,490,000

Condo D includes four deed-restricted residential units within the historic Old Firehouse building. The offering consists of three 1-bedroom/1-bath condos and one studio with a full bath. All units are newly finished and include an oven/range, refrigerator, dishwasher, washer, and dryer. Each residence also comes with a dedicated storage area and covered carport, and an elevator provides access to the residential level. The in-town location offers walkable access to restaurants, shopping, schools, parks, and community amenities. The deed restriction is income-based only, set at 140% of Area Median Income, with approximately 17 years remaining before the units convert to free-market status. Current rents are below the maximum allowable levels and still produce over a 5% return at the full asking price, offering stable performance with future upside. Workforce housing remains one of the most consistently sought-after segments in Ridgway and the surrounding region. Local employers across hospitality, education, healthcare, trades, municipal services, and recreation rely on attainable, well-located units like these to meet year-round staffing needs. With limited inventory and ongoing demand, units of this type remain highly successful rentals with dependable occupancy. Ridgway’s central position between two major employment hubs strengthens long-term demand. Ouray, approximately 10 minutes away, supports steady year-round jobs tied to tourism, lodging, and local services. Telluride, roughly 45 minutes west, is a major four-season destination with significant employment in hospitality, events, outdoor recreation, construction, and professional services. Many who work in Telluride choose to live in Ridgway for improved housing access and community amenities, making these units well-situated for a broad pool of renters. With reliable rental performance, walkable in-town convenience, and free-market conversion potential in the future, Condo D offers a balanced blend of present-day income and long-term value in a high-demand San Juan Mountain market.

3 Beds ⋅ 4 Baths ⋅ 20260077 MLS

185 N Lena Street Unit #Condo "D", Ridgway