400 Palomino, Ridgway, CO 81432

$1,150,000
2
BA
1,952
SqFt

Listing courtesy of Redmond Realty, Llc.

List Price
$1,150,000
MLS#
797858
Full-baths
1
Three-fourth-baths
1
Sq. Ft
1,952
Acres
0.23
Year Built
2006
Region
Ridgway
Subdivision
Other

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. 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. Buried optical fiber is on the property with residential and commercial symmetrical service plans available up to 1000 Mbps download and 1000Mbps upload. Irrigation water provided by the HOA. Building is highly energy efficient with two-zone central heating and air conditioning provided by an air-source all-climate heat pump (no fossil fuels burned on the premises). The property comes with an extraordinary number of high quality and hard-to-find features. The agent has all the details.

Mortgage Calculator

Amount of Loan
Annual Interest Rate
%
Term of Loan
Years

Does not include any taxes or fees.
Please consult a financial professional.
Calculator source: Real Geeks

board logoThe 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 2022. 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 CREN contain that company's name. Fair Housing Disclaimer This data was last updated: