A rare multi-use commercial/residential opportunity located in the heart of downtown Crested Butte. 327 Elk Avenue offersone commercial space and two residential spaces. An extensive renovation was done to the entire building with many upgrades and repairs. These include a new main water line, new water meter, all new Led lighting throughout, fresh paint inside & out and so much more! The 908 sq. ft. ground-level commercial space is situated to offer foot traffic galore. It is home to Nikys Mini Donuts, a long-standing successful business with a 5-year lease. The commercial space was fully renovated with all new electrical wiring, new plumbing, new gas furnace, new in-wall insulation, air conditioner and double layer drywall. Other amenities include tons of storage, a half bath and the best Elk Avenue frontage one could desire.Upstairs offers a completely remodeled fully-furnished, four bedroom, two full bath apartment complete with granite countertops, stainless appliances, washer and dryer, gas fireplace, built-in sound system with Alexa, Lutron lighting system with recessed Led lighting, commercial grade WiFi and a smart home system. In the rear of the building downstairs there is a large remodeled fully furnished, one-bedroom apartment with full kitchen, washer and dryer, natural gas wall heater and sizable walk in closet. Plenty of extra storage throughout the building as well as four car spaces in the rear, and incredible views of Red Lady, Gothic and White Mountain. This is the gem, in a truly spoiled location. Downtown Crested Butte is unique in that there are not many opportunities presented like this. Conditional use for a boutique hotel or lodge possible.Per approval by the town, the building could also be converted into a condominium, allowing each unit to be sold separately.Create a legacy for your family and the Crested Butte community today. Niky's Donuts franchise is now available. Inquire for more information.