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Property Detail

871 Riverside Dr, Estes Park, CO 80517, USA
Live in the mountains in Luxury home and Generate an income from your adjacent 8 cabin property.
$3,300,000

Description

INVESTMENT HIGHLIGHTS

  • Live in the mountains in Luxury home and Generate an income from your adjacent 8 cabin property. Perfect for your 1031 Exchange.
  • Cabins generate on the $2.1 million standalone business value an 8.3% CAP. And the Luxury home has an additional $1 million value.

EXECUTIVE SUMMARY

Two adjoining properties are to be offered:
(A) 841 Riverside Drive, Estes Park, CO 80517 (Commercially operated Cottages/Cabins valued at $2,100,000 with a 8.3% business CAP)
(B) 871 Riverside Drive, Estes Park, CO 80517 (Residential Property/Commercially Eligible Property with a $1,200,000 value)
Both properties reside in the very sought EV-A1 zoning of Larimer County which allows for Short Term Rentals.
Better known as Mountain Shadows Resort (MountainShadowsEstes.com), sitting on a corner lot of nearly 1.3 Acres. 8 Cottages reside on Property A within 4 Duplexes constructed in 1999 specifically and exclusively used as overnight vacation rentals. Each Cabin has an In-room full size private hot tub, King Bed, gas fireplace, central heat, A/C unit, Kitchenette, ¾ Bath, and private deck.
Property B is a 2,800 SF, 4 Bedroom (all with ensuite Bathrooms). Has Heavy Beamed, Vaulted ceilings, Hardwood (Beetle-kill specially permitted) wood floors, river rock fireplace in large living room, Master Bedroom has a gas fireplace, 3 car heated garage, with large storage area on the 2nd floor of the garage. The property was originally built and operated as an STR. The current owners utilize Property B as their home. Further, they utilize a 5th converted bedroom as their home office and the 4th Bedroom (Apartment) located above the home office has its own private accessibility through the downstairs office. Prior owners have allowed property managers to use the apartment/bedroom.
Interested Buyers are evaluating a business/property in one of the most traveled destination location, Rocky Mountain National Park (RMNP). RMNP is consistently a top visited National Park along with Yellowstone and the Grand Canyon. RMNP consistently sees 4.5 million visitors mostly between June and October.
The current owners’ upgrades and operational improvements to MSR has vaulted the accommodations to the top of Booking.com with a guest review rating of 9.5 (Exceptional) from 295 reviews! This is the highest in Estes Park.
No other property in the area provides the flexibility for the
1. Owner to live in a luxury home while managing the cabin property which happens to be adjoining the residence property
2. Owner can convert the residence (Property B) to an independent rental and both properties operating in unity as an autonomous business.
3. Owner can live in the residence, and have an onsite manager live in the apartment/bedroom.
Booking.com: 9.5 Exceptional, 295+ Reviews, Highest Rated in Estes Park: Cleanliness (9.8), Value (9.3), Comfort (9.8), Staff (9.8). Our Location is rated with a 9.7 and the Facilities are rated 9.6.
TripAdvisor.com 4.5 with forty (out of 41 reviews) 5 Bubble Reviews since the current owners took over in 2021.
Expedia/Hotels.com - Owners have within the last 6 months invited the Expedia Group to provide additional Online Travel Agency (OTA) services. This is in addition to Booking.com who only has 4 of the eight cabins. And we have provided Expedia 1 cabin. We have a 10 star guest rating currently with Expedia Group.
Buyer Agent receives 3% of the 6% total Broker Fees/Commission
 

AMENITIES

  • Balcony
  • High Speed Internet Access
  • Patio
  • Wedding Venue
  • Smoke-Free
  • Hot Tub
  • Fully-Equipped Kitchen

ABOUT 841 RIVERSIDE DR , ESTES PARK, CO 80517

Two adjoining properties are offered: (A) 841 Riverside Drive, Estes Park, CO 80517 (Commercially operated Cottages/Cabins valued at $2,100,000 with a 8.3% business CAP) (B) 871 Riverside Drive, Estes Park, CO 80517 (Residential Property/Commercially Eligible Property with a $1,000,000 value) Both properties reside in the very sought EV-A1 zoning of Larimer County which allows for Short Term Rentals. Better known as Mountain Shadows Resort (MountainShadowsEstes.com), sitting on a corner lot of nearly 1.3 Acres. 8 Cottages reside on Property A within 4 Duplexes constructed in 1999 specifically and exclusively used as overnight vacation rentals. Each Cabin has an In-room full size private hot tub, King Bed, gas fireplace, central heat, A/C unit, Kitchenette, ¾ Bath, and private deck. Property B is a 2,800 SF, 4 Bedroom (all with ensuite Bathrooms). Has Heavy Beamed, Vaulted ceilings, Hardwood (Beetle-kill specially permitted) wood floors, river rock fireplace in large living room, Master Bedroom has a gas fireplace, 3 car heated garage, with large storage area on the 2nd floor of the garage. The property was originally built and operated as an STR. The current owners utilize Property B as their home. Further, they utilize a 5th converted bedroom as their home office and the 4th Bedroom (Apartment) located above the home office has its own private accessibility through the downstairs office. Prior owners have allowed property managers to use the apartment/bedroom. Interested Buyers are evaluating a business/property in one of the most traveled destination location, Rocky Mountain National Park (RMNP). RMNP is consistently a top visited National Park along with Yellowstone and the Grand Canyon. RMNP consistently sees 4.5 million visitors mostly between June and October. The current owners’ upgrades and operational improvements to MSR has vaulted the accommodations to the top of Booking.com with a guest review rating of 9.5 (Exceptional) from 295 reviews! This is the highest in Estes Park. No other property in the area provides the flexibility for the 1. Owner to live in a luxury home while managing the cabin property which happens to be adjoining the residence property 2. Alternatively the Owner could convert the residence (Property B) to an independent rental and both properties operating in unity as an autonomous business. 3. Or Owner can live in the residence, and have an onsite manager live in the apartment/bedroom to operate the business. If you are looking for a premium property and a highly-rated business, then: Booking.com: 9.5 Exceptional, 295+ Reviews, Highest Rated in Estes Park: Cleanliness (9.8), Value (9.3), Comfort (9.8), Staff (9.8). Our Location is rated with a 9.7 and the Facilities are rated 9.6. TripAdvisor.com 4.5 with forty (out of 41 reviews) 5 Bubble Reviews since the current owners took over in 2021. Expedia/Hotels.com - Owners have within the last 6 months invited the Expedia Group to provide additional Online Travel Agency (OTA) services. This is in addition to Booking.com who only has 4 of the eight cabins. And we have provided Expedia 1 cabin. We have a 10 star guest rating currently with Expedia Group.

ROOM MIX INFORMATION

DESCRIPTIONNO. ROOMSDAILY RATESF
Suite8$250.00

 

PROPERTY TAXES

 

Pamela Garfinkel

+1 970-577-0397

Specification

General

  • 6406
  • 1.2900
  • Investment
  • EV-A1 (EV A-1 Estes Valley Accommodations/Low-Intensity Zoning larimer.gov/sites/default/files/uploads/2022/complete_larimer_luc_effective_april_26_2022.pdf)
  • 1998
  • 2023
  • 8

Financials

  • 5.27

Hospitality

Mountain Shadows Cabins Estes Park

Listing ID : 00481

SKU: 481

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