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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1BEDS
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0.25ACRES
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1BATHS
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11/2 BATHS
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1,952SQFT
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$589$/SQFT
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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Data last updated: 2023-03-25T23:49:43.113.
Listing provided courtesy of Cathy Redmond of Redmond Realty, Llc: ( ) -.