Update on Sternberg’s Hillcrest Apartments

See more photographs on Colorado Preservation’s Facebook Page:

BACKGROUND:
– Potential one or two units for sale
– Historically intact compound of 6 units plus garage space for 4 vehicles
– Designed by Eugene Sternberg
– Constructed in 1958
– 500 square feet
– Great location – 2 blocks north of Lincoln Avenue in Steamboat Springs
– Incredible views of the ski area, Emerald Mountain, and downtown
– Opportunity to motivate preservation of a National Register-eligible property

OPPORTUNITY: Historically, since 1958, the ownership was shares in the Hillcrest Apartment Association. Now, the process is underway to condominiumize the six units. Brad Bartels, project manager and owner of Unit #6, is confident that the condominiumizing will be approved by summer 2011 and will be governed by a condominium association.

The Association decided in October 2010 that redeveloping the property was not feasible in the current real estate market and will, likely, soon select a contractor to begin to repair/rehabilitate/insulate the butterfly roof and interior drains, replace the sewer line and sidewalk, and repair the sewer line. Informal estimate of cost per unit is approximately $20,000 (Fred Conrath, owner, Unit #3).

2009, 2010 Annual cost/revenue per unit (for the past decade, most or all of the units are rentals.
$8400-9600   Rental income per year. Approximately $700-800/month.
$1600-1800   Annual assessment for property taxes, maintenance, water/sewer

CONTACT:
Linda Kakela
Wayne Kakela Family Trust, owner
970-232-4236 cell
linda.kakela@gmail.com

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Featured Project

4 Bar 4 Ranch

Homesteaded in 1895 by Dick McQueary to provide a stop for the Georgetown Stage Line, the 320-acre 4 Bar 4 Ranch has strong ties to Grand County and Colorado's heritage. The Georgetown Stage Line traveled on the road through the 4 Bar 4 Ranch from Idaho Springs to Hot Sulphur Springs over Berthoud Pass. In 1895 a roadhouse and stage stop were constructed on the ranch. The hotel and barn were constructed using trees from the Ranch property, and the hotel remained open for travelers coming over Berthoud Pass by horseback and wagon until 1913. With the coming of the automobile, the roadway over Berthoud Pass and through the 4 Bar 4 Ranch was considered an integral part of the Trans-Continental “Midland Trail” highway. Following the closing of the stage line, the ranch continued to host travelers until 1912 or 1913 when it was purchased and converted into a Ford Motor Company . Ford vehicles were sold here until 1917, when Harry Larkin purchased the ranch site. Today emergency efforts are underway to ensure it survives through the winter. Donations are in need. To learn more, contact Jennifer Orrigo Charles at jorrigocharlges@coloradopreservation.org.

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