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    702 Oak Street

    Steamboat Springs, CO 80487
    • $2,350,000
    • STATUS: Active
    • ON SITE: 75 days
    • ID#: 2820271
    UPDATED: 64 min ago
    $2,350,000
    • 0
      BEDS
    • 0.32
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 5,599
      SQFT
    • $420
      $/SQFT
    Type:
    Multi-Family
    Built:
    1969
    County:

    School Ratings & Info

    Offered by Colorado Group Realty.

    Description

    12 Mixed use Rental Units in the heart of Steamboat Springs. Ski Town USA. This ideal location is situated a block from 7th and Lincoln Avenue, the center of the downtown walking district of Steamboat Springs. Dozens of restaurants and bars are a brief walk. Stroll down to the Yampa River for fishing or Howelsen for all of the local events. Bike to anywhere downtown in a couple of minutes. Mountain bike straight to the IMBA Silver-rated trails. Easy access to this prime spot is just one block off of Highway 40. This property provides generous income potential. Most of the leases are currently month to month providing an investor the freedom to choose to keep things as they are, bring in new long term tenants at a market rate or switch to a short term model. Proforma Figures provide 6.2 Cap rate using market-rate long term rentals. The owner has a great track record of full units for short term rentals. A full switch to short term stays could boost gross income by 100%. Four of the units are currently rented to commercial tenants. Seven are rented to long-term residential tenants. One unit is vacant for showings and is ready for Air BnB.

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    Licensed in the State of Colorado, USA

    The content relating to real estate for sale in this Web site comes in part from the Internet Data eXchange (IDX) program of METROLIST, INC., DBA RECOLORADO®. Real estate listings held by brokers other than Keller Williams Preferred Realty are marked with the IDX Logo. This information is being provided for the consumers’ personal, non-commercial use and may not be used for any other purpose. All information subject to change and should be independently verified.

    1. This publication is designed to provide information regarding the subject matter covered. It is displayed with the understanding that the publisher and authors are not engaged in rendering real estate, legal, accounting, tax, or other professional services and that the publisher and authors are not offering such advice in this publication. If real estate, legal, or other expert assistance is required, the services of a competent, professional person should be sought.

    2. The information contained in this publication is subject to change without notice. METROLIST, INC., DBA RECOLORADO MAKES NO WARRANTY OF ANY KIND WITH REGARD TO THIS MATERIAL, INCLUDING, BUT NOT LIMITED TO, THE IMPLIED WARRANTIES OF MERCHANTABILITY AND FITNESS FOR A PARTICULAR PURPOSE. METROLIST, INC., DBA RECOLORADO SHALL NOT BE LIABLE FOR ERRORS CONTAINED HEREIN OR FOR ANY DAMAGES IN CONNECTION WITH THE FURNISHING, PERFORMANCE, OR USE OF THIS MATERIAL.

    3. PUBLISHER’S NOTICE: All real estate advertised herein is subject to the Federal Fair Housing Act and the Colorado Fair Housing Act, which Acts make it illegal to make or publish any advertisement that indicates any preference, limitation, or discrimination based on race, color, religion, sex, handicap, familial status, or national origin.

    4. METROLIST, INC., DBA RECOLORADO will not knowingly accept any advertising for real estate that is in violation of the law. All persons are hereby informed that all dwellings advertised are available on an equal opportunity basis.

    5. 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 permission of the publisher. The information contained herein including but not limited to all text, photographs, digital images, virtual tours, may be seeded and monitored for protection and tracking.

    © 2020 METROLIST, INC., DBA RECOLORADO® – All Rights Reserved 6455 S. Yosemite St., Suite 500 Greenwood Village, CO 80111 USA

    www.themargolisteam.com/homes/110053471
    Print Image

    702 Oak Street Steamboat Springs, CO 80487

    • Price: $2,350,000
    • Status: Active
    • Updated: 64 min ago
    • ID#: 2820271
    0
    Beds
    0
    Baths
    0
    ½ Baths
    0.32
    Acres
    5,599
    SQFT
    $420
    $/SQFT
    1969
    Built
    County:
    Routt
    Area:
    Steamboat Springs
    Property Description
    12 Mixed use Rental Units in the heart of Steamboat Springs. Ski Town USA. This ideal location is situated a block from 7th and Lincoln Avenue, the center of the downtown walking district of Steamboat Springs. Dozens of restaurants and bars are a brief walk. Stroll down to the Yampa River for fishing or Howelsen for all of the local events. Bike to anywhere downtown in a couple of minutes. Mountain bike straight to the IMBA Silver-rated trails. Easy access to this prime spot is just one block off of Highway 40. This property provides generous income potential. Most of the leases are currently month to month providing an investor the freedom to choose to keep things as they are, bring in new long term tenants at a market rate or switch to a short term model. Proforma Figures provide 6.2 Cap rate using market-rate long term rentals. The owner has a great track record of full units for short term rentals. A full switch to short term stays could boost gross income by 100%. Four of the units are currently rented to commercial tenants. Seven are rented to long-term residential tenants. One unit is vacant for showings and is ready for Air BnB.
    Exterior Features

    Architectural Style Contemporary/ModernStudioTraditional Attached Garage YN No Carport Spaces 0 Carport YN No Covered Spaces 0 Garage YN No Lot Features Corner LotNear Public Transit Lot Size Square Feet 13939 Parking Features AsphaltCircular Driveway Parking Total 0 Road Frontage Type Public Road Road Surface Type Paved Roof CompositionRolled/Hot Mop

    Property Features

    Construction Materials FrameWood Siding Lease Considered YN No Property Sub Type Multi Family Security Features Carbon Monoxide Detector(S)Smoke Detector(S) Sewer Public Sewer Tax Annual Amount 17258 Tax Year 2019 Utilities Cable AvailableElectricity ConnectedHigh Speed Internet AvailablePhone ConnectedSewer Connected Water Source Public Zoning Cn

    Listing courtesy of Colorado Group Realty: MLS #2820271


    Licensed in the State of Colorado, USA

    The content relating to real estate for sale in this Web site comes in part from the Internet Data eXchange (IDX) program of METROLIST, INC., DBA RECOLORADO®. Real estate listings held by brokers other than Keller Williams Preferred Realty are marked with the IDX Logo. This information is being provided for the consumers’ personal, non-commercial use and may not be used for any other purpose. All information subject to change and should be independently verified.

    1. This publication is designed to provide information regarding the subject matter covered. It is displayed with the understanding that the publisher and authors are not engaged in rendering real estate, legal, accounting, tax, or other professional services and that the publisher and authors are not offering such advice in this publication. If real estate, legal, or other expert assistance is required, the services of a competent, professional person should be sought.

    2. The information contained in this publication is subject to change without notice. METROLIST, INC., DBA RECOLORADO MAKES NO WARRANTY OF ANY KIND WITH REGARD TO THIS MATERIAL, INCLUDING, BUT NOT LIMITED TO, THE IMPLIED WARRANTIES OF MERCHANTABILITY AND FITNESS FOR A PARTICULAR PURPOSE. METROLIST, INC., DBA RECOLORADO SHALL NOT BE LIABLE FOR ERRORS CONTAINED HEREIN OR FOR ANY DAMAGES IN CONNECTION WITH THE FURNISHING, PERFORMANCE, OR USE OF THIS MATERIAL.

    3. PUBLISHER’S NOTICE: All real estate advertised herein is subject to the Federal Fair Housing Act and the Colorado Fair Housing Act, which Acts make it illegal to make or publish any advertisement that indicates any preference, limitation, or discrimination based on race, color, religion, sex, handicap, familial status, or national origin.

    4. METROLIST, INC., DBA RECOLORADO will not knowingly accept any advertising for real estate that is in violation of the law. All persons are hereby informed that all dwellings advertised are available on an equal opportunity basis.

    5. 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 permission of the publisher. The information contained herein including but not limited to all text, photographs, digital images, virtual tours, may be seeded and monitored for protection and tracking.

    © 2020 METROLIST, INC., DBA RECOLORADO® – All Rights Reserved 6455 S. Yosemite St., Suite 500 Greenwood Village, CO 80111 USA

     
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    Keller Williams Preferred Realty
    410 Strong St
    Brighton CO, 80601
    Offered by Colorado Group Realty.