A rare opportunity to acquire a fully stabilized, income-producing duplex fronting the fairways of the Pagosa Springs golf course, delivering a solid 6% cap rate with NOI already in place and no lease-up risk to navigate. Each unit offers 1,170 SqFt of well-proportioned living space with 2 bedrooms and 1 bathroom; a floor plan that matches the strong rental demand this market consistently produces. The lower unit has undergone significant renovation, adding modern appeal and reducing near-term capital expenditure needs. A newly constructed balcony deck on the upper unit enhances outdoor living for tenants, and a fresh coat of stucco across the entire exterior in 2024 and a new roof in 2022 delivers excellent curb appeal. The result is a turn-key asset that looks great and performs from day one. Quality multifamily in Pagosa Springs rarely comes to market, this is one of the very few stabilized opportunities currently available. The area's year-round appeal is unmatched in Southwest Colorado: home to the world's deepest geothermal hot springs, Wolf Creek Ski Area with some of Colorado's highest annual snowfall, and direct access to the San Juan National Forest. A vibrant town center, the San Juan River corridor, and growing remote-work migration all fuel consistent, multi-season rental demand and keep vacancy tight. For investors seeking reliable Colorado mountain exposure, the combination of scarcity, location, and immediate cash flow is difficult to replicate.