4 Cabins on the Shenandoah River in Luray VA

[Chase Hoover]

Investment Info:

Other commercial investment investment in Luray.

Purchase price: $430,000
Cash invested: $70,000
Sale price: $1,035,000

Four cabins on the Shenandoah River in Luray, VA, each identical 1 bedroom, 1 bathroom, 600sf with a 250sf covered patio. Located near Luray Caverns, Shenandoah National Park, George Washington National Forest, and Shenandoah River Outfitters (fishing, kayaking, tubing adventures).

What made you interested in investing in this type of deal?

First cabin deal in Virginia. We'd had much success with Airbnbs in south Florida and wanted a project in Virginia. This fell into our lap and it was the perfect value-add opportunity.

How did you find this deal and how did you negotiate it?

Facebook post by owner - not on MLS

How did you finance this deal?

Commercial loan

How did you add value to the deal?

Interior remodel of all cabins. New brand, website, marketing strategy.

What was the outcome?

The property far exceeded our projections by grossing $200k in its first full year after launch.

Lessons learned? Challenges?

The Shenandoah Valley is a GREAT place to invest in STR!