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$2,750,000
Est. payment /mo
2.97 Acres Lot
UPDATED:
Key Details
Property Type Multi-Family, Commercial
Sub Type Multi Family
Listing Status Coming Soon
Purchase Type For Sale
MLS Listing ID 3643565
HOA Y/N No
Year Built 1968
Lot Size 2.970 Acres
Acres 2.97
Property Sub-Type Multi Family
Property Description
Truly one of a kind. An operating motel, a spacious 7 bedroom residence and a new chapter waiting to be written. Set on a multi-acre parcel in Laporte, about 10 minutes to Old Town Fort Collins, Elkhorn Motel offers an opportunity for a hospitality operator, renovation-minded investor or buyer seeking a residence alongside a lodging business. The 14 motel units include studios and one-bedroom layouts, with kitchenettes in all but one unit. Explore a boutique motel concept or evaluate other rental models. The layouts provide a starting point for creating a distinctive guest experience near Northern Colorado's outdoor recreation. The attached 7-bedroom, 4-bath residence offers space for an owner's home or a potential residential rental component. Plumbing exists behind an upstairs wall for a future second kitchen, and the upstairs was a 1990s addition intended to create a lock-off multi-unit property. That original intent offers a concept to explore, subject to approval of any conversion. In 2006, the motel received critical infrastructure updates, including electrical, plumbing and roof structure. Nearby Horsetooth Reservoir and access to Fort Collins add to the hospitality appeal. The planned Glade Reservoir site is reportedly about 4 to 5 minutes away, offering potential proximity to future recreation if the project is completed. Buyers can investigate the property's potential to become one of the only lodging operations in the area. For qualified buyers, a short-term lodging operation may offer depreciation and potential tax-offset opportunities, depending on participation, operating structure and individual circumstances. Explore any strategy with your tax advisor. Bring your contractor, operating plan and vision. Changes in use, additional dwelling units, expansion or events may require review and approval. Buyer to verify permitted uses, rental requirements, condition, all information material to the purchase. $300K of price is for remodel costs.
Location
State CO
County Larimer
Zoning O
Exterior
Utilities Available Cable Available, Electricity Connected
Waterfront Description Public
Roof Type Composition
Private Pool No
Building
Sewer Septic Tank
Water Public
Others
Tax ID 9830100014
Virtual Tour https://www.youtube.com/watch?v=DipUPt8aHTo
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6455 S. Yosemite St., Suite 500 Greenwood Village, CO 80111 USA
6455 S. Yosemite St., Suite 500 Greenwood Village, CO 80111 USA
Listed byeXp Realty, LLC
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Cesar Peña
Real Estate Advisor License ID: FA.100097076
Real Estate Advisor License ID: FA.100097076