Western Colorado log home priced at distressed property levels also provides rental income.
Log cabin on 20 acres with stunning views of the West Elks Wilderness; rental property with income. Bargain priced real estate!
Distressed properties at below-market prices are the goal of many real estate buyers in today's economy. While we wouldn't label this Colorado custom log home a "distressed property", it is ONE HECK OF A GOOD DEAL. Bargain priced real estate buyers need to take a close look at this one!
A beautiful 20-acre building lot that backs up to BLM like this one would cost close to $200,000 even in today's market. Add in a 2,700-square-foot custom log home (at least $150 a square foot, and probably more like $200 a square foot), and you're up to $405,000 just for the log home (at $150 a square foot, a conservatively low estimate). Total value, $605,000. But wait! There's more! The property has another dwelling on it, a double-wide trailer tucked out of sight from the main house. It can provide a consistent rental income of $800 a month. That's worth about $100,000 of home mortgage right there. Do the math--at $450,000, this is a screaming deal on a gorgeous home that's never even been lived in.
Now that we've talked about value, let's talk about the property. This home has never been lived in, and is custom throughout. It has solid maple floors, vaulted ceilings, a big beautiful kitchen, high-end appliances, a loft, log touches throughout, and big balconies facing an awesome view.
The home is situated about half a mile east of Highway 92, so it's very private and quiet and doesn't have a lot of road noise. The ranch below it is very large, and the views should never be ruined by a subdivision. Across the valley, the West Elks Wilderness is a panorama of snow-capped peaks. Views are simply stunning.
For buyers looking for a hunting property, this one is hard to beat. Unit 63 is known for its trophy mule deer and elk, and this mountain log home has terrific hunting right out the back door. Seriously, all you have to do is put a sandwich and a water bottle in your backpack and make sure you have a few shells in your pocket, and you're hunting right out the back door on hundreds of acres of BLM. And it's darn sure more comfortable than any other hunting cabin you've ever stayed in!
As a bonus, the double-wide trailer is on the property and tucked into the pinyons 100 yards or so away from the main house. It can provide a nice rental income.
Please call or email me for more information.
Gary Hubbell
970 921 5588
970 988 2122 cell
970 921 5331 office
Email: grandviewranch@gmail.com
Log cabin on 20 acres with stunning views of the West Elks Wilderness