
Colorado · 2023
Elk Ridge — Steamboat Springs, CO
1,840 sq ft hand-hewn log cabin, deferred maintenance since 1994. Transformed into a 4-bed STR generating $11,200/month peak season.
Purchased
$412K
Total In
$550K
Cap Rate
16.2%
Before & After

Scope of Work
- Full structural remediation — sistered floor joists, replaced load-bearing ridge beam
- Electrical: knob-and-tube removal, 200A panel upgrade, EV charger rough-in
- Plumbing: PVC replacement, on-demand propane water heater, radiant floor in master
- Kitchen: custom walnut cabinetry, soapstone counters, Wolf range
- Exterior: chink repair, re-stain, new metal roof over existing sheathing
- Permitting: full CO county STR license, septic certification
Financial Summary
Purchase Price
$412K
Renovation Cost
$138K
Total Invested
$550K
Current Valuation
$895K
T12 Rental Income
$134,400
Occupancy Rate
81%




