Chautauqua cottages are rarely on the market, and when remodeled like this one, they tend to go quickly. Originally constructed in 1928 by Jon Blanchard, who built eight other cottages for out of town owners, this is the second cottage built on the site. Earlier maps from 1900 to 1922 show a smaller cabin.
The current home features just two official bedrooms in its ~1,500 SQFT and as typical for the neighborhood, no garage. The remodel is tastefully executed and the home's location in the neighborhood is not a thoroughfare for hikers.
Due Diligence: The entire neighborhood is on a land lease to the City of Boulder. This has always been, and likely always will be, how ownership is structured at Chautauqua. Though it represents a risk for potential future conflict, given the nature of the asset and its importance to Boulder, it's probably a low risk. Normally we'd advise our clients to avoid a land lease, but not in this circumstance.
Deal notes: On the market for two weeks, the property sold for $101K over list price, cash.
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Note: The Realtors at House Einstein did not represent the buyers or sellers of this property. Our discussion of notable sales is designed to help educate you on market conditions and make a smarter real estate decision.
Osman Parvez is the Founder and Employing Broker of House Einstein. Originally from the Finger Lakes region of New York, he lives in Boulder with his wife and their Labrador Retriever. He has been a Realtor since 2005.Osman is the primary author of the House Einstein blog with over 1,200 published articles about Boulder real estate. His work has also appeared in many other blogs about Boulder as well as mainstream newspapers, including the Wall Street Journal and Daily Camera. For more information, click HERE.
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The ideas and strategies described in this blog are the opinion of the writer and subject to business, economic, and competitive uncertainties. House Einstein strongly recommends conducting rigorous due diligence and obtaining professional advice before buying or selling real estate.
