118 W Mill StreetBayfield, CO 81122Price: $470,000

Nestled in the heart of downtown Bayfield, this charming cottage-style home on Historic Mill Street offers the perfect blend of urban convenience and investment potential. This parcel has the potential to be zoned residential and commercial (Buyer and Buyer’s agent to confirm with Town of Bayfield), the possibilities are endless! Whether you’re looking for a stylish downtown residence, a business location, or a profitable rental opportunity, this property has it all. The home features flexible living arrangements, with three to four bedrooms or the option of converting the upstairs into a separate income-generating unit. The second floor can function as a mother-in-law suite, a caregiver unit, or a short-term rental, making this a true two-in-one property. Both levels can also be divided into individual rentals, each with two bedrooms and one bathroom. Steps away from six local restaurants, two parks, playgrounds, and the scenic Pine River, this home offers the ultimate walkable lifestyle. The house also boasts a living room and a bonus family room with vaulted ceilings that let in plenty of natural light and air. The contemporary kitchen includes pull-out drawers and soft-close cabinets, while two bathrooms, a front porch, and a back patio off the master bedroom add to the home’s comfort and charm. With convenient access to the highway, you're just 20 minutes away from Durango. Recent upgrades include metal siding, a spacious two-door garage, a 10x8 shed, new flooring, new paint, appliances, and shelving in the garage. Take advantage of this rare opportunity to live and invest in downtown Bayfield!