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4 Beds
3 Baths
2,474 sqft

$649,900

1221 & 1221 1/2 S 3rd Street, Montrose CO, 81401

Price per sqft$262.69
Built in1912
Property size2,474 sqft
Property typeResidential
Listed by Jennifer Johnson with NextHome Virtual 610-850-5858

Overview

Active

Listed Sep 21, 2026

Updated 2 weeks ago

Two residences, three city lots, and an incredible location in the heart of Montrose! This unique property offers flexibility, income potential, and plenty of space; all within walking distance of Main Street, local restaurants and amenities. The main home features 1,817 square feet with 3 bedrooms and 2 bathrooms, while the separate 657 square-foot ADU offers its own bedroom, bathroom, living room, kitchen, and dining area. Together, the two residences provide a total of 2,474 square feet of living space. The detached guest house has a strong short term rental history, creating an excellent opportunity for an investor, 1031 exchange buyer, or owner-occupant looking to offset expenses with rental income. It also offers an ideal setup for multigenerational living, extended family, guests, or a private space for an adult child. Situated on three city lots, the property has seen numerous recent improvements, including a new roof in 2022, refrigerator and washer/dryer in 2023, and substantial exterior updates in 2026. Those updates include fresh exterior paint, a new sprinkler system, new grass, and an impressive 420-square-foot redwood deck, perfect for outdoor dining, entertaining, or relaxing. Location adds even more value: just two blocks from the hospital, approximately 0.8 miles from the golf course, and close enough to walk to downtown Montrose and enjoy Main Street restaurants, shopping, and community events. Whether you’re looking for a primary residence with a separate guest house, a multigenerational property, or an investment with established rental potential, this property offers a combination of space, versatility, and location that is hard to find in Montrose.

$4,324/mo

Est. mortgage payment based on a $649,900 home price.

All estimates are provided by Luxury Presence for informational purposes only. Actual amounts may vary.

Additional information

MLS® ID
839245

Interior Features

Bedrooms
4
Bathrooms
3
Cooling
Yes
Heating
Yes
Basement
No

Exterior Features

Lot Size
0.22 Acres

Other Property Details

Taxes
$2,793
Tax Frequency
Annually

Listed by Jennifer Johnson with NextHome Virtual 610-850-5858


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Data last updated on: 9/25/2026

 

 

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