Skip To Content

400 Palomino Trail

Ridgway, CO 81432
  • $1,150,000
  • STATUS: Active
  • ON SITE: 85 Days
  • MLS #: 797858
UPDATED: 32 min ago
$1,150,000
  • 0
    BEDS
  • 0.23
    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 Redmond Realty, Llc: 970-729-0898.


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.

Monthly Payment Calculator

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 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 The Howe Group | Keller Williams Realty contain that company’s name.
Fair Housing Disclaimer

This data was last updated: 2022-11-26T20:56:24.41.
www.thehowegroup.co/homes/132676252
Print Image

400 Palomino Trail Ridgway, CO 81432

  • Price: $1,150,000
  • Status: Active
  • On Site: 85 Days
  • Updated: 32 min ago
  • MLS #: 797858
0
Beds
2
Baths
0
½ Baths
0.23
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
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.
Exterior Features

Acreage Range Less Than 1/2 Approx Irrig Acres 0.23 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 Two 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 SlabInsulated 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 2021 Total Gas Meters 1 Total Taxes 2568 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 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 The Howe Group | Keller Williams Realty contain that company’s name.
Fair Housing Disclaimer

This data was last updated: 2022-11-26T20:56:24.41.
 
https://bt-photos.global.ssl.fastly.net/cren/orig_boomver_1_797858-2.jpg https://bt-photos.global.ssl.fastly.net/cren/orig_boomver_1_797858-2.jpg https://bt-photos.global.ssl.fastly.net/cren/orig_boomver_1_797858-2.jpg
Logo
The Howe Group | Keller Williams Realty
218 Maroon Ave. Unit C
Crested Butte CO, 81224
Listing courtesy of Redmond Realty, Llc: 970-729-0898.