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    400 Palomino Trail

    Ridgway, CO 81432
    • $1,150,000
    • STATUS: Active
    • ON SITE: 112 days
    • MLS #: 39515
    $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

    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. Be sure and see listings on VRBO.com (property #s 130480 and 597318) for additional information including photos, guest reviews and availability calendar.

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    © Copyright 2021 by Telluride Association of REALTORS, Inc. ALL RIGHTS RESERVED WORLDWIDE. 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. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but is not guaranteed accurate by the MLS or Compass. Data last updated: 2021-09-17T23:49:12.117.

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

    • Price: $1,150,000
    • Status: Active
    • 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
    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. Be sure and see listings on VRBO.com (property #s 130480 and 597318) for additional information including photos, guest reviews and availability calendar.
    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 Ridgway Real Estate Corp..
    © Copyright 2021 by Telluride Association of REALTORS, Inc. ALL RIGHTS RESERVED WORLDWIDE. 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. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but is not guaranteed accurate by the MLS or Compass. Data last updated: 2021-09-17T23:49:12.117.

     
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    205 W Colorado Ave
    Telluride CO, 81435