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$ 1,525,000
Est. payment /mo
Price Dropped by $50K
105 8th AVE Greeley, CO 80631
UPDATED:
10/28/2024 09:49 PM
Key Details
Property Type Multi-Family
Sub Type Multi-Family
Listing Status Active
Purchase Type For Sale
MLS Listing ID 7705450
HOA Y/N No
Originating Board recolorado
Year Built 1953
Annual Tax Amount $14,980
Tax Year 2023
Property Description
Seller will carry financing to a qualified buyer $575,000 down, at 5% interest only for a 5-year term.
Price reduced.
Independent Boutique motel renovated and positioned to capture business entering Greeley from the North.
16 Guest rooms
Manager Residence on-site
A perfect fit for retiree owners (and their Millennial successors)
At dusk the neon sign is seductive. Arching over the rooftop the rainbow-colored sign (which happens to be the motel’s moniker) beckons passersby. On a weekend road trip with no particular timeline other than to get out of the house, the 68-ish couple, six months into retirement, faced what most 65-70-year olds do. The home where they’d raised their children echoed at night with only the two of them sorting through the Instacart delivery. The pandemic had trimmed entertaining to zero. In the last two years of working mostly remotely, they’d gotten adept at Zoom calls and better at saying goodbyes to their friends who had moved on to retirement destinations.
The couple caught the vibe.
Downsizing to 16 bedrooms at age 65 seems, well, absurd. Until you figure in that the 16 rooms is a boutique motel with a sincerely awesome personal residence behind the lobby doors. When their grown kids return home for holidays, they can block out a couple of guest rooms for as long as they want. Even at this age the two figured they had a good 20+ years of active living to do. Plus, they were building a little family business with serious income to add to their Social Security. And just maybe it will be of interest in perpetuity for one of their kids.
Broker owned
Price reduced.
Independent Boutique motel renovated and positioned to capture business entering Greeley from the North.
16 Guest rooms
Manager Residence on-site
A perfect fit for retiree owners (and their Millennial successors)
At dusk the neon sign is seductive. Arching over the rooftop the rainbow-colored sign (which happens to be the motel’s moniker) beckons passersby. On a weekend road trip with no particular timeline other than to get out of the house, the 68-ish couple, six months into retirement, faced what most 65-70-year olds do. The home where they’d raised their children echoed at night with only the two of them sorting through the Instacart delivery. The pandemic had trimmed entertaining to zero. In the last two years of working mostly remotely, they’d gotten adept at Zoom calls and better at saying goodbyes to their friends who had moved on to retirement destinations.
The couple caught the vibe.
Downsizing to 16 bedrooms at age 65 seems, well, absurd. Until you figure in that the 16 rooms is a boutique motel with a sincerely awesome personal residence behind the lobby doors. When their grown kids return home for holidays, they can block out a couple of guest rooms for as long as they want. Even at this age the two figured they had a good 20+ years of active living to do. Plus, they were building a little family business with serious income to add to their Social Security. And just maybe it will be of interest in perpetuity for one of their kids.
Broker owned
Location
State CO
County Weld
Interior
Fireplace N
Exterior
Parking Features Asphalt
Utilities Available Cable Available, Electricity Available, Electricity Connected, Internet Access (Wired), Natural Gas Available, Natural Gas Connected, Phone Available, Sewer Connected
Roof Type Membrane,Metal
Total Parking Spaces 16
Garage No
Building
Lot Description Corner Lot
Sewer Public Sewer
Water Public
Structure Type Block,Brick,Concrete
Others
Acceptable Financing Cash, Conventional, Owner Will Carry
Listing Terms Cash, Conventional, Owner Will Carry
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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 by Jarod Clark Realty LLC • jarod@unleaded.digital,303-912-0227