Eco Friendly - Adult 55+
Address
400 Palomino Trail Ridgway, CO
Price
$ 1,150,000
Property Attributes
  • MLS#782527
  • TypeMulti-Family
  • CountyOURAY
  • CityRidgway
  • AreaRidgway
  • Zip81432
  • StyleDuplex
  • Year Built2006
  • Taxes$ 2400
  • Price$ 1,150,000
  • Bedrooms0
  • Full Bathrooms2
  • Half Bathrooms0
  • Sqr Footage1952
  • Lot Size9,583 SqFt
Listing Provided Courtesy Of:
Ridgway Real Estate
Data Source:
Colorado Real Estate Network (CREN) - 253 - CO
Property Description

Turnkey, well established and popular vacation rental business in a custom built (2007), carbon emission free, two-story building situated on a frontage road paralleling U.S. Highway 550 in an edge-of-town General Commercial zone where mixed uses and live-work arrangements are encouraged. The business, known as Cow Creek Suites, offers two fully and beautifully furnished apartments: a ground-floor open concept studio and a second-floor, one-bedroom, one-bath with full kitchen, laundry and office/guest bedroom. It is nicely irrigated with water provided through the HOA. A contained storage room and mechanical room are each accessed with their own exterior entrances. The ground floor unit is easily converted back to commercial, office or retail space as a use by right. According to reporting by listing service VRBO (subsidiary of Expedia, Inc.) on their booking platform these rentals have consistently outperformed 95% of their market during the past several years (a market including the towns of Telluride and Ouray comprised of over 1500 listed lodging properties). The occupancy rate for the five-year period ending December 31, 2020, was 64% including many long-time repeat guests. Confirmed reservations for 2021 are already at 65% occupancy. Furnishings included. Buried optical fiber is on the property with residential and commercial symmetrical service plans available up to 1000 Mbps download and 1000Mbps upload. Building is extremely energy efficient with central heating and air conditioning provided by an air-source all-climate heat pump (no fossil fuels burned on premises). Be sure and see listings on the VRBO website (property #s 130480 and 597318) for additional information including photos, guest reviews and availability calendar. Short term rental licenses are required by the Town of Ridgway and capped at 50. Transfers are not allowed however about half the available licenses are currently available. Property is situated on a frontage road paralleling US Highway 550 near its intersection with Colorado Highway 62, the northern entry to Colorado's famous San Juan Skyway Scenic Byway, considered by many the most scenic part of Colorado's Scenic and Historic Byway System. Property is just 9 highway miles north of the charming, historic mining town of Ouray, 37 highway miles from the ski-resort/festival town of Telluride (airport code TEX), and 26 highway miles south of the burgeoning retirement community of Montrose (airport code MTJ). Montrose Memorial Hospital is the #1 Small Hospital in Colorado (receiving an overall grade of A+ by the Lown Institute) and is the only Colorado hospital to place for the sixth consecutive year in the Top 100 Rural & Community Hospitals in the United States.

Elementary School Middle School High School
Ridgway K-5 Elementary School Ridgway 6-8 Middle School Ridgway 9-12 High School
Price History
5/28/2021 Listed $1,150,000

General Features

Class MULTIFAMILY
Cooling Central Air, Forced Air
Flooring Laminate, Tile
Green Certification Y/n No
Heating Forced Air, Heat Pump
Hoa Y/n Yes
New Construction Y/N No
Parking 2-10 Total Spaces, Common
Roof Metal
Status Active
Status Active
Stories One Story
Style Southwest
Subdivision Other
Type Duplex
View Mountains, Valley
Zoning Live/Work, Residential, Residential Multi Family

Interior Features

3/4 Baths 1
Appliances Dishwasher, Dryer, Microwave, Range/Oven, Refrigerator, Washer
Dining Room Kitchen Bar, Living Room Dining
Full Baths 1
Master Bedroom Upper Level
Total Rooms 2

Exterior Features

Apx. Irrigation Acres 0.22
Carport Yes
Carport Spaces 1
Domestic Water/Sewer City Sewer, City Water
Horse Setup No
Lot Dimensions Rectangular
Lot Size Area 0.22
Parking Spaces 6
Siding Cedar
Water Rights/irrig. Yes
Waterfront No

Amenities

  • Foreclosure
  • Views
  • Short Sale
  • New Construction
  • Adult 55+
  • Lease To Own
  • No HOA Fees
  • Furnished
  • Primary On Main
  • Air Conditioning
  • Seller Finance
  • Green
  • Fixer Upper
  • Horse
  • Golf
  • Fireplace
  • Deck
  • Garage
  • Basement
  • Pool

Property vs Multi-Family Average in 81432

Price
AVG $1.13M
$1.15M
Taxes
AVG $3,917
$2,400
Visits
AVG 117
131
Year Built
AVG 1993
2006
Walkscore
AVG 35
35
Data Provided by Walkscore ® not using MLS data