Vail is a hot market for short term rental investment property. According to Vail Daily, there were approximately 2,600 units already in town in 2018, and long-term rentals are being converted into short-term rentals at a fast pace. 75% of those surveyed felt the loss of long-term housing was a problem and 61% of employees indicated they struggled to find housing.
That’s because short-term rentals are currently a lucrative investment. The average daily rate is $461, which means a potential of $168,265 per unit in gross annual income. While you shouldn’t plan a business around 100% occupancy rates (or zero costs), that still provides a fairly stunning glimpse at the area’s potential.
Here are four recent Zillow listings to give you a sense of the short term rental investment property market in Vail. Double-check any property before buying to make sure it’s eligible for short term rental and not under a homeowners association ruling, covenant, or other restriction.
$1,695,000 2 bedroom, 2 bath, 850 square feet
413 Gore Creek Dr # 3, Vail, CO 81657
Location! Location! Location! This exquisite remodel is a must-see. Finishes include waterworks plumbing fixtures, Gagenau appliances, Venetian plaster walls, white Carrara counters, walnut wood paneling, Ann Sack tile, custom lighting, cabinets, and furniture. Custom California closet storage unit. Vail Mtn out your front door and Gore Creek out the back door.
$390,000 1 bedroom, 2 bath, 516 square feet
4570 Vail Racquet Club Dr # 2-1, Vail, CO 81657
This charming 1-bedroom property has a beautiful, ground floor, corner location on the creek which allows for extra windows and an expanded deck with a private, wooded surrounding on the water. A new owner could enjoy the classic early Vail decor or update the finishes to reflect modern trends. Ownership at the Vail Racquet Club includes access to the fitness center, year-round outdoor pool, hot tubs and tennis courts. Located steps from the bus stop for convenient access into Vail Village.
$1,490,0003 bedroom, 3 bath, 2,391 square feet
2241 Chamonix Ln # A, Vail, CO 81657
Sunny duplex, large windows with views to the south, west and north into BLM land. Large decks off the living room and master enhance the mountain ambiance of the home. Tall pines enclave consists of four residences close to amenities of West Vail. Easy access to Vail TOV bus. Turnkey.
$1,875,000 5 bedroom, 5 bath, 3,728 square feet
1759 Sierra Trl, Vail, CO 81657
Come check out this West Vail multi-unit investment opportunity! This unique property has huge income potential. Currently leased annually with 3 active leases. The last unit is an owner unit. This also could be an excellent Airbnb or seasonal rental as well. Please call agent with questions! This multi-unit building has 4 units and ample parking:
Unit A- Two story, 2 bedroom, one bath, open floor plan, laundry
Unit B- Studio apartment with full kitchen, 3/4 bath
Unit C- One bedroom, one bath
Unit D- 2 bedroom + Loft, 2 bath, granite counters, updated bathrooms with Travertine and Marble, wood floors throughout, laundry.