30359 W Hwy 160

Description

ATTENTION INVESTORS - PRICE REDUCTION ALERT. Known for decades the iconic Rainbow Lodge and RV Park is an older, smaller resort-type property with mountains views and located in the heart of South Fork, Colorado! The 4-parcel property with approximately spacious 4.29 acres, consists of a motel (built 1964-1968) with 10 single-level rooms (four on front, six on side), 4 apartments: a 3 bedroom/2-bath managers apartment, a 2-bedroom /2 bath apartment, a 2-bedroom/1-bath apartment, a one bedroom /1 bath apartment, lobby for the complex, leased commercial retail space (approx. 1200 SF), an over-sized garage/workshop, guest and motel laundry (with guest and commercial motel washers and dryers), 17 furnished cabins (built 1937-1967), 33 RV spaces with full hook-ups including electricity (15 -30 AMP, 18 50 AMP), internet, water and sewer. An additional newer well house with water treatment equipment is next to a recreation/event building containing an event room with kitchen and 2 restrooms. Other amenities include fish cleaning station, firepit & grill areas, fenced dog run area, paved entrance to motel and cabins 14, 15, and 16, and gravel driveways to cabins and RV spaces. All furnishings and fixtures related to operation convey with sale. The cabins and rooms have been updated (miscellaneous repairs, flooring, inside & outside painting, furniture, bath & light fixtures, kitchen and bath counters, new metal roofs) since the owner purchased it in 2021. Originally the property was a smaller resort-type property, and the current owner recently converted a good portion of the property to long term rentals to include the apartments and most of the cabins. The 16 cabins consist of 5 duplex residential and 6 single units. Cabin 14 remains as a nightly rental in addition to the 10 motel rooms, perfect for skiers in winter! The 33 RV spaces are rented typically from May through October. Two wells provide water for the RV Park, cabins and motel rooms. Sewage is released through South Fork Sanitation District system (no septic systems!) This amazing South Fork, Colorado property as currently designed is a unique investor (1031 Exchanges welcomed) or family business opportunity. Both the RV spaces and single cabin provide a revenue flow beyond the long-term residential rentals. Additionally, the 10 motel rooms provide year-round revenue and are set up for internet check-in. The lobby could be converted into a retail space for additional income. A new owner could pursue long term housing rental scenario for the motel rooms. RV Spaces and Recreation/Event Building could continue as seasonal revenue for out-of-state guests who have come to Rainbow RV Park for generations! The Recreation/Event Building could also attract RVs who desire a special event, having their guests stay in the RV park. Standing income exists with long term rental housing (leases transfer), commercial rental (Wolf Creek Anglers lease transfers), short term motel rooms, one cabin rental, & seasonal RV resort space rentals. As Wolf Creek Ski area develops and with approximately 470 feet frontage east to west along Highway 160 and State Highway 149 (as they merge in front/south of the property), this property is a prime development gem.