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400 Palomino Trail

Ridgway, CO 81432
  • $1,150,000
  • STATUS: Active
  • ON SITE: 193 Days
  • MLS #: 782527
UPDATED: 61 min ago
$1,150,000
  • 0
    BEDS
  • 0.22
    ACRES
  • 2
    BATHS
  • 0
    1/2 BATHS
  • 1,952
    SQFT
  • $589
    $/SQFT
Neighborhood:
Type:
Multi-Family
Built:
2006
County:
Area:

School Information

Elementary School:
Middle School:
High School:
Listing courtesy of Ridgway Real Estate.


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.

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The data relating to real estate for sale on this web site comes in part from the Internet Data Exchange (IDX) program of Colorado Real Estate Network, Inc. (CREN), © Copyright 2021. All rights reserved. All data deemed reliable but not guaranteed and should be independently verified. This database record is provided subject to “limited license” rights. Duplication or reproduction is prohibited.
FULL CREN Disclaimer

Real Estate listings held by companies other than Berkshire Hathaway HomeServices Western Colorado Properties contain that company’s name.
Fair Housing Disclaimer

This data was last updated: 2021-12-08T16:56:27.92.
www.homesforsaledurango.com/homes/117699812
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400 Palomino Trail Ridgway, CO 81432

  • Price: $1,150,000
  • Status: Active
  • On Site: 193 Days
  • Updated: 61 min ago
  • MLS #: 782527
0
Beds
2
Baths
0
½ Baths
0.22
Acres
1,952
SQFT
$589
$/SQFT
2006
Built
Neighborhood:
Other
County:
Ouray
Area:
Ridgway
Elementary School:
Ridgway K-5
Middle School:
Ridgway 6-8
High School:
Ridgway 9-12
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.
Exterior Features

Acreage Range Less Than 1/2 Approx Irrig Acres 0.22 Carport Yes Carport Spaces 1 Garage No Lot Dimension Rectangular Parking 2-10 Total SpacesCommon Parking Spaces 6 Property Attached No Roof Metal Siding Cedar Stories One Story Street Description City/TownPaved Style Southwest Views MountainsValley Water Well No Waterfront YN No

Interior Features

Appliance Inclusions DishwasherDryerMicrowaveRange/OvenRefrigeratorWasher Cooling Central AirForced Air Dining Kitchen BarLiving Room Dining Flooring LaminateTile Foundation Basement InsulatedSlab Heating Fuel Source Forced AirHeat Pump Main Sq Ft 992 Master Bedroom Level Upper Level One Quarter Baths 0 Total Office Dens 0 Unit1 Square Feet 992 Unit2 Square Feet 960 Upper Sq Ft 960

Property Features

Covenants Yes Green Certification No Hoa Yes Hoa Name Eastside Subdivision Horse Setup No Multi Story Yes New Construction YN No Reo Lender Owned No Tax Year 2020 Total Gas Meters 1 Total Taxes 2400 Total Water Meters 1 Type Duplex Water Rights Yes Water Sewer City SewerCity Water Zoning Live/WorkResidentialResidential Multi Family

The data relating to real estate for sale on this web site comes in part from the Internet Data Exchange (IDX) program of Colorado Real Estate Network, Inc. (CREN), © Copyright 2021. All rights reserved. All data deemed reliable but not guaranteed and should be independently verified. This database record is provided subject to “limited license” rights. Duplication or reproduction is prohibited.
FULL CREN Disclaimer

Real Estate listings held by companies other than Berkshire Hathaway HomeServices Western Colorado Properties contain that company’s name.
Fair Housing Disclaimer

This data was last updated: 2021-12-08T16:56:27.92.
 
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Berkshire Hathaway HomeServices Western Colorado Properties
842 Main Ave
Durango CO, 81301
Listing courtesy of Ridgway Real Estate.