7362 Us-40 Empire, CO 80438

Property Details for 7362 Us-40

Year built

1935

Lot size

12.74 lot acres

Property type

Mobile home & RV parks

Property subtype

Campgrounds

Description

This exceptional 12.74-acre property in Empire, Colorado, presents a compelling investment opportunity. Clear Creek Cabins, located at 7362 US-40, boasts 16 income-generating units, including five single-family cabins and a residence, all built in 1935 and well-maintained. Currently operating with an 84.6% occupancy rate, the property generates a Net Operating Income (NOI) of $95,195, yielding a 7.05% cap rate. Significant value-add potential exists through repositioning as a short-term RV park, leveraging the existing ten RV pads and five underutilized tent camping sites. The property's pro-forma NOI is projected at $139,973, resulting in a 10.37% pro-forma cap rate. This represents a strong return on investment, further enhanced by the property's prime location near major employment centers and renowned outdoor recreational activities. The asking price is $1,350,000, with a price per unit of $84,375. The six buildings are all single-story structures. The property is classified as a Class C multifamily investment, and the land value is not currently factored into the price per acre. This unique combination of established income and development potential makes Clear Creek Cabins an attractive acquisition for discerning investors seeking a blend of rustic charm and strong financial returns in a desirable Colorado mountain setting. The property's APN numbers are 183921201200, 183921201200, and 183921201201.

Location Insight

City

Empire

County

Clear Creek

State

Colorado

Longitude

-105.791

Latitude

39.7767