205 207 Park Ave Unit 2, Steamboat Springs, CO 80487

Property Description

Located at the corner of Park Avenue and Grand Street in Steamboat’s highly desirable Old Town neighborhood, this updated property offers a rare income-producing opportunity with two independent rental units, one of which includes a grandfathered Short-Term Rental (STR) license—a privilege no longer attainable in this red zone location. The main residence blends timeless Steamboat character with modern finishes and has demonstrated solid STR performance, even with significant owner usage during periods of rental. The separate one-bedroom ADU, built in 2017, operates as a 30-day+ executive or seasonal rental, providing a dependable secondary income stream. Together, the two units have achieved combined historical gross rents of approximately $140K, with upside potential toward $180K based on recent STR projections. Minimal operating costs, no expensive HOA fees, and newer hot water heater / furnace help to ensure future profitability. This is a true turnkey live and/or lease opportunity, offering strong income generation along with the option to personally enjoy one of Colorado’s most beloved mountain towns and year-round destinations.