- Acquired by the seller in 2019 for just $566K and modestly updated, this two bedroom, two bath condo was available for only two days before a buyer locked it down.
- Located just a few blocks from the action, it was a stellar investment.
- Short-term rental licenses are no longer available in Zone 3, where this property is located.
- Due diligence: Breck takes a zoned approach to short-term rental licensing using a short-term rental area map. The areas are described as a Resort Properties Zone, a Tourism Zone (Zone 1), the downtown core (Zone 2), and single family residential areas (Zone 3). Licenses are only relinquished through property sales, since they are non-transferable, or owner non-renewal. This means that through time, the zones that are currently showing excess STRs, will come into compliance.
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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.
