My first STR in Aspen, CO

[Ryan S.]

I'm in the process of purchasing a second home in Aspen, CO, which will also serve as my first STR property. The townhouse is located in Aspen's sought-after lodging district, where STRs are fully permitted. It's a newly renovated 3-bedroom, 2-bathroom home, just one block from the ski slopes and four blocks from downtown.

The current owner has been renting it out for $30,000 per month during the peak winter and summer seasons. Over the next couple of years, I don’t plan to use the property often, but I may stay there occasionally when it’s not occupied. My primary focus is on maximizing cash flow.

Does anyone has experience with STRs in Aspen, I’d love to hear your advice or insights!

[Ryan S.]

Quote from @Andrew Steffens:

Quote from @Ryan S.:

Quote from @Andrew Steffens:

Curious what is the purchase price and taxes/insurance/HOA?

Price $4,250,000. Taxes $10,000. HOA $9,000. Insurance $4,000

Here is the property: https://www.flexmls.com/share/BYLRS/124-E-Durant-Avenue-7-As...

 Very nice, what is annual income?

Not sure... The previous owner used it occasionally and rented it out to offset some costs. I’ve spoken with a few agents who estimate it could generate anywhere from $150,000 to $300,000 in revenue, which is a big range.