841 Riverside DrEstes Park, CO 80517

Property Details for 841 Riverside Dr

Year built

1998

Construction

WOOD FRAME

Lot size

0.48 AC

Property size (Sq ft)

3,696 SF

Property type

Hospitality properties

Property subtype

Hotels

APN

35351-07-005

APU

3535107005

Description

This exceptional Estes Park hospitality investment offers a unique opportunity to acquire two adjoining properties totaling nearly 1.3 acres. The main property, Mountain Shadows Resort, comprises eight charming cottages, each featuring a private hot tub, king bed, fireplace, kitchenette, and private deck. These cottages, built in 1999 and renovated in 2022, are designated as a Pre-Existing Lodging Facility (PELF) by Larimer County, ensuring a transferable designation for short-term rentals. The resort boasts a 9.6 rating on Booking.com, the highest in Estes Park, with exceptional reviews across cleanliness, value, comfort, and staff. Gross revenues for the past 12 months show a 12.6% increase, with significant growth in the current season. The adjacent property, a 2,800 square-foot, four-bedroom home with a three-car garage, offers versatile options: owner occupancy, additional rental income, or on-site manager housing. This property features high-end finishes including vaulted ceilings, hardwood floors, and multiple fireplaces. Both properties are situated in the highly desirable EV-A1 zoning, allowing for short-term rentals and capitalizing on the 4.5 million annual visitors to nearby Rocky Mountain National Park. The asking price is $3,300,000, with a pro-forma cap rate of 10% and a pro-forma NOI of $210,771. The property includes 13 parking spaces and five buildings. This turnkey operation presents a rare combination of high-performing lodging and luxurious residential living in a prime location. The property's success is further evidenced by its presence on Booking.com, TripAdvisor, and Expedia, consistently achieving high ratings and awards.

Location Insight

City

Estes Park

County

Larimer

State

Colorado

Latitude

40.3607

Longitude

-105.538

CBSA code

22660

CBSA name

FORT COLLINS-LOVELAND, CO METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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