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400 Palomino Trail

Ridgway, CO 81432
  • $1,150,000
  • STATUS: Active
  • ON SITE: 546 Days
  • MLS #: 39515
UPDATED: 37 min ago
$1,150,000
  • 1
    BEDS
  • 0.25
    ACRES
  • 1
    BATHS
  • 1
    1/2 BATHS
  • 1,952
    SQFT
  • $589
    $/SQFT
Neighborhood:
Type:
Single-Family Home
Built:
2006
County:

School Ratings & Info

Description

COW CREEK SUITES. One of the area's longest running and most popular vacation rental properties can be yours. As reported by VRBO, for the past several years these vacation rentals have consistently outperformed 90-95% of their market - a market comprised of some 1500 listed properties and including the towns of Telluride and Ouray. The occupancy rate for 2021 was 90%, yielding an attractive 4.1 percent cap rate. Over the previous five-year period the occupancy rate totaled 64%. Growth prospects remain excellent - entering 2022 the property was already 55% booked. See the listing agent for photos, reviews, and rates.THE PROPERTY. Custom designed and built, the two-story, 1952 sq. ft., western Victorian style building is situated on a nearly quarter-acre lot at the very eastern edge of town with beautiful mountain and pasture views all around. The zoning is General Commercial with mixed uses and live-work arrangements allowed, affording flexible future use options, and avoiding any of the controversies of short-term rentals in residential zones. The property comes with an extraordinary number of high quality and hard-to-find features  see the listing agent for all the details. INSIDE. There are two fully and beautifully furnished apartments: a ground-floor open concept studio withkitchenette, private bath/laundry and a second-floor, one-bedroom, one-bath with full kitchen, office/guest bedroom andlaundry. A contained storage room and mechanical room are each accessed with their own exterior entrances at groundlevel. The ground floor unit can be easily converted back to commercial, office or retail space as a use by right toaccommodate a live/work arrangement. THE AREA. Situated at the northern entry to Colorado's famous San Juan SkywayScenic Byway, considered by many the most scenic part of Colorado's Scenic and Historic Byway System, the property isjust 9 highway miles north of the charming, historic mining town of Ouray, 37 highway miles from the ski-resort/festival townof Telluride (airport code TEX), and 26 highway miles south of the burgeoning retirement community of Montrose (airportcode MTJ).

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[Teullride Board of Realtors] logo ©Copyright 2020 by Telluride Association of REALTORS, Inc. ALL RIGHTS RESERVED WORLDWIDE. The data relating to real estate on this web site comes from REALTORS who submit listing information to the Internet Data Exchange (IDX) Program of the Telluride Association of REALTORS, Inc. The inclusion of IDX Program data on this web site does not constitute an endorsement, acceptance, or approval by the Telluride Association of REALTORS of this web site, or the content of this web site. The data on this web site may not be reliable or accurate and is not guaranteed by the Telluride Association of REALTORS, Inc. The IDX data on this web site is provided exclusively for the web site user’s personal, non-commercial use and may not be used for any purpose other than to identify prospective properties that the user may be interested in purchasing. No part of this publication may be reproduced, adapted, translated, stored in a retrieval system or transmitted in any form or by any means, electronic, mechanical, photocopying, recording, or otherwise, without the prior written consent of the Telluride Association of REALTORS, Inc. or Compass. Data last updated: 2022-11-26T06:49:33.7.

www.tellurideluxuryproperties.com/homes/117703307
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400 Palomino Trail Ridgway, CO 81432

  • Price: $1,150,000
  • Status: Active
  • On Site: 546 Days
  • Updated: 37 min ago
  • MLS #: 39515
1
Beds
1
Baths
1
½ Baths
0.25
Acres
1,952
SQFT
$589
$/SQFT
2006
Built
Neighborhood:
Xyz Subdivision
County:
Ouray
Area:
Ridgway - 71 (Major Area 70)
Property Description
COW CREEK SUITES. One of the area's longest running and most popular vacation rental properties can be yours. As reported by VRBO, for the past several years these vacation rentals have consistently outperformed 90-95% of their market - a market comprised of some 1500 listed properties and including the towns of Telluride and Ouray. The occupancy rate for 2021 was 90%, yielding an attractive 4.1 percent cap rate. Over the previous five-year period the occupancy rate totaled 64%. Growth prospects remain excellent - entering 2022 the property was already 55% booked. See the listing agent for photos, reviews, and rates.THE PROPERTY. Custom designed and built, the two-story, 1952 sq. ft., western Victorian style building is situated on a nearly quarter-acre lot at the very eastern edge of town with beautiful mountain and pasture views all around. The zoning is General Commercial with mixed uses and live-work arrangements allowed, affording flexible future use options, and avoiding any of the controversies of short-term rentals in residential zones. The property comes with an extraordinary number of high quality and hard-to-find features  see the listing agent for all the details. INSIDE. There are two fully and beautifully furnished apartments: a ground-floor open concept studio withkitchenette, private bath/laundry and a second-floor, one-bedroom, one-bath with full kitchen, office/guest bedroom andlaundry. A contained storage room and mechanical room are each accessed with their own exterior entrances at groundlevel. The ground floor unit can be easily converted back to commercial, office or retail space as a use by right toaccommodate a live/work arrangement. THE AREA. Situated at the northern entry to Colorado's famous San Juan SkywayScenic Byway, considered by many the most scenic part of Colorado's Scenic and Historic Byway System, the property isjust 9 highway miles north of the charming, historic mining town of Ouray, 37 highway miles from the ski-resort/festival townof Telluride (airport code TEX), and 26 highway miles south of the burgeoning retirement community of Montrose (airportcode MTJ).
Exterior Features

Access CityPaved Construction Frame Covered Parking 1 Car Exterior Finish Wood (Natural) Extras Air ConditioningFencePatio/Deck Garage Open Area Lofts None Open Area Parking 3 Car + Roof Metal Special Location None Style Southwest Substructure Crawl Space View MountainsValley

Interior Features

Appliances DishwasherDryerElec Oven/RangeMicrowaveRefrigeratorWasher Furnished Full Heat Forced Air

Property Features

Age 21 - 40 Years Caretakers Unit No Deed Restrictions None Disclosures Covenants Electric Power Company Historical Qualification No Hoa Dues 109.40 Irrigation YN No Major Area 70 REO No Residential Type Within Township/City Limits RETT None Sanitation Sewer Short Sale No Sq Ft Source Assessor Tax Year 2020 Taxes 2400.00 Utility Phone Lines Regular Phone Utility Primary Heat Forced Air Water Public Zoning Residential/Commercial

Listing provided courtesy of Cathy Redmond of Redmond Realty, Llc: ( ) -.
[Teullride Board of Realtors] logo ©Copyright 2020 by Telluride Association of REALTORS, Inc. ALL RIGHTS RESERVED WORLDWIDE. The data relating to real estate on this web site comes from REALTORS who submit listing information to the Internet Data Exchange (IDX) Program of the Telluride Association of REALTORS, Inc. The inclusion of IDX Program data on this web site does not constitute an endorsement, acceptance, or approval by the Telluride Association of REALTORS of this web site, or the content of this web site. The data on this web site may not be reliable or accurate and is not guaranteed by the Telluride Association of REALTORS, Inc. The IDX data on this web site is provided exclusively for the web site user’s personal, non-commercial use and may not be used for any purpose other than to identify prospective properties that the user may be interested in purchasing. No part of this publication may be reproduced, adapted, translated, stored in a retrieval system or transmitted in any form or by any means, electronic, mechanical, photocopying, recording, or otherwise, without the prior written consent of the Telluride Association of REALTORS, Inc. or Compass. Data last updated: 2022-11-26T06:49:33.7.

 
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