17964 Kiser Creek Rd Cedaredge, CO 81413

Property Details for 17964 Kiser Creek Rd

Year built

1983

Lot size

15.89 lot acres

Property size

3,843 SF

Property type

Motels

APN

319513400022

Description

Exceptional investment opportunity: a thriving short-term rental property nestled on 15.89 acres in Cedaredge, Colorado. This meticulously renovated property boasts a 3,083 sq ft main house with 5 bedrooms and 3 bathrooms, plus two additional rental units. Two charming creekside tiny homes, each 380 sq ft, offer further income potential. The property features a year-round creek, ample parking (10 spaces), and is zoned for commercial use, allowing for expansion. Currently generating approximately $85,000 annual net operating income (NOI) with 50% occupancy (as of March 4, 2024), this property presents significant upside potential. The main house and rental units are fully furnished and updated in 2024. The property's location offers unparalleled access to outdoor recreation, including an 18-hole golf course, hunting, fishing, and proximity to Grand Mesa National Forest. Delta County's welcoming short-term rental regulations provide a stable and supportive environment for continued growth. The asking price is $975,000, representing a compelling 8.72% cap rate. This turnkey operation is ideal for an owner-user seeking a high-return investment with significant expansion possibilities. The property includes three buildings across two stories, built in 1983. The total square footage is 3,843, with a price per square foot of $253.71. The property is listed under APN 319513400022 and is not subject to a ground lease.