Photos
$1,895,000
MLS: 05099-80366
3.2 Acres
7,788 SqFt
beds
baths
This premier income-producing property is nestled among mixed conifer and Gambles oak trees along the northern shore of Vallecito Reservoir. Originally part of the renowned Wits End Ranch, this family-owned creekside sanctuary offers countless possibilities for a new owner. Sitting on approximately 3.2 acres of land, the property features a Main Lodge and 7 rental units.
The Main Lodge is a beautifully renovated log-sided building of around 6,000 sq ft. It boasts a newly upgraded kitchen, a spacious dining area, and a great room with tongue and groove ceilings and walls, complete with a custom stone fireplace. The lodge comprises 5 bedrooms, each with ensuite baths, newly remodeled with fine decor and furnishings. The cabins consist of 2 duplexes, 2 spacious 2-bedroom/1-bathroom cabins, and 1 large 3-bedroom/2-bathroom cabin. Each unit comes with a fireplace and covered porch. Additional space for 2 to 4 more units is available, with foundations and utilities already in place. There is also land for potential RV site development. The cabins have a successful rental history, with a pro forma gross cap rate of 9% or more, depending on the preferred operations of the new owner. The property features a pond that can be stocked with trout annually, providing added value to guests and an extra income source. Previously, the fishing pond generated $15,000 to $20,000 in additional income when operated through Wits End Ranch. The entire property is serviced by Silver Streams Well #1, a decreed water system that also serves 13 cabins, including the Main Lodge and a formerly successful restaurant.
Located near Vallecito Reservoir, known as the "Lake of the Little Valley," the area offers excellent fishing opportunities with a variety of fish species. Surrounding the lake are over 2.5 million acres of public lands, providing ample options for outdoor activities year-round, such as boating, fishing, hiking, biking, and winter sports. The property is approximately a 30-minute drive from downtown Durango, offering access to historic sites, the Durango and Silverton Narrow Gauge Railroad, and Purgatory Ski Resort. Mesa Verde National Park is also within a convenient distance. This secluded mountain hideaway offers a serene setting while maintaining easy access to lively communities. The seller is open to financing options for buyers with a down payment of 30% or more, offering terms of 8% to 9% interest for 3 years, with a possible renewal option and no qualification required.
