Elkhorn Motel for Sale in Laporte, Colorado: 14 Motel Units, an Attached Residence, and a New Hospitality Chapter

Elkhorn Motel at 4332 W County Road 54G, Laporte, Colorado 80535 combines an existing lodging business with an attached 7-bedroom, 4-bath residence, approximately 10 minutes from Old Town Fort Collins.

For buyers searching for a Northern Colorado investment property, a motel renovation project, or an opportunity to live alongside a hospitality business, the property offers several components worth exploring: 14 motel units, existing kitchenettes in most units, an attached owner’s residence, and a location near Fort Collins and outdoor recreation.

The asking price is $2,750,000, including a $300,000 remodel component. A purchase at $2,450,000 without that remodel component is also an option to discuss with the listing agent.

The opportunity is to evaluate how the existing property could perform with updated interiors, a defined guest experience, and a focused operating plan. A boutique motel concept is one possibility. Continued lodging operations or other permitted rental models may also deserve consideration.

Elkhorn Motel at a Glance

• Property: Elkhorn Motel, also known as Glick’s Elkhorn Motel.
• Address: 4332 W County Road 54G, Laporte, CO 80535.
• Location: Larimer County, Northern Colorado, approximately 10 minutes from Old Town Fort Collins.
• Motel accommodations: 14 existing units with a mix of studio and one-bedroom layouts.
• Kitchenettes: Included in all but one motel unit.
• Attached residence: 7 bedrooms and 4 bathrooms.
• Site: Approximately 2.97 acres.
• Asking price: $2,750,000, including a $300,000 remodel component.
• Alternative purchase structure: $2,450,000 without the remodel component, subject to agreed contract terms.
• Infrastructure history: Reported motel updates in 2006 included electrical, plumbing, and roof structure.
• Residential layout detail: An upstairs addition from the 1990s was intended to accommodate a future upstairs and downstairs lock-off arrangement.
• Second kitchen preparation: Plumbing exists behind an upstairs wall for a future second kitchen.
• Potential direction: An owner operated lodging business, boutique motel renovation, or another permitted hospitality model.

The published listing identifies approximately 2.97 acres, public water, septic service, and 25 parking spaces. Buyers should verify site measurements, utility capacity, and parking suitability for their intended operation.

View Elkhorn Motel property information, photos, and updates.

What Does the $300,000 Remodel Component Mean?

The property is being marketed at $2,750,000 with $300,000 allocated toward remodel costs. Buyers who prefer to purchase without that component can discuss a $2,450,000 purchase structure.

These are alternative ways to approach the transaction. The remodel component does not establish a fixed renovation scope, guarantee that $300,000 will cover a buyer’s entire project, or mean a lender will automatically finance those costs.

A buyer should establish:

• Which improvements they want completed.
• Who will perform and manage the work.
• Whether improvements would occur before or after closing.
• How funds would be held, released, and documented.
• Whether the purchase and renovation structure meets lender requirements.

Contractor estimates and a written scope of work will help buyers compare the two purchase approaches.

The Existing Motel: 14 Units with Different Layouts

Elkhorn Motel has 14 motel units, including studio and one-bedroom configurations. Kitchenettes are present in all but one unit.

That existing mix provides a starting point for a buyer considering a refreshed lodging concept. Different layouts may support different room categories, while kitchenettes can be useful to guests who want the option to prepare meals during their stay.

A renovation plan could evaluate:

• Updated bathrooms, flooring, lighting, and finishes.
• Consistent bedding, furnishings, and room presentation.
• Improvements to kitchenette function and appearance.
• Exterior maintenance, signage, and arrival experience.
• Photography, direct booking, and online reservation systems.
• Housekeeping, maintenance, and guest communication procedures.

The best scope will depend on the building condition, operating budget, intended guest experience, and achievable local room rates.

Buyers should review the unit inventory and physically inspect each accommodation before relying on a room count, layout, or renovation estimate.

The Attached 7-Bedroom, 4-Bath Residence

The attached residence is a significant part of the property’s appeal. A buyer could explore living onsite while operating the motel, keeping the lodging business and personal residence close together.

The residence has seven bedrooms and four bathrooms. Its upstairs portion was added in the 1990s with the intention of creating a future lock-off arrangement between the upper and lower levels. Plumbing exists behind an upstairs wall for a second kitchen.

That history creates a layout concept to investigate. It does not establish that the residence is currently an approved duplex or that a second dwelling unit can be created without review.

A buyer interested in separate residential units should examine access, fire separation, utilities, septic capacity, parking, and applicable county requirements before including that conversion in an investment plan.

Lodging Use, Residential Use, and Airbnb Questions

The motel and attached residence should be evaluated separately when considering rental use.

Based on the county guidance obtained for the listing, the existing motel accommodations can operate for short stays under their lodging use without requiring a separate residential short-term rental license. The attached residence is identified for owner occupancy or residential rentals of 31 days or longer.

The published listing reports the parcel’s zoning as O, or Open. The lodging and residential uses describe how the property’s components are treated; they should not be confused with separate parcel zoning designations.

For a buyer interested in Airbnb or another booking platform, the important question is which accommodations can legally be offered for the intended length of stay. Airbnb is a marketing and reservation platform. Listing a space there does not change its approved use.

Buyers should review the available county correspondence and confirm requirements for their specific operating plan. Continued motel operations, residential rental use, additional dwelling units, expansion, and events are different questions.

Could Elkhorn Become a Boutique Motel or Small Hotel?

A boutique motel concept is a renovation and business possibility for Elkhorn.

The existing accommodations and attached residence could support a buyer’s vision for a smaller hospitality property with a consistent identity. That might include cohesive interiors, an improved arrival experience, thoughtful room amenities, and a stronger booking presence.

An owner operator could also evaluate whether living onsite fits their management plan. Proximity can make it easier to oversee guest service, housekeeping, maintenance, and property improvements.

The investment case still needs to be tested. A successful concept requires more than attractive renovation photos. Buyers should study comparable lodging, realistic nightly rates, occupancy patterns, staffing needs, and operating costs before establishing a budget.

Any concept images or virtual renovations should be treated as illustrations of possibilities. They do not show completed improvements or approved construction plans.

Why the Laporte Location Matters

The property is in Laporte, approximately 10 minutes from Old Town Fort Collins, depending on traffic and route.

That location gives a prospective operator several areas of demand to investigate: visits to Fort Collins, outdoor recreation trips, regional travel, and guests seeking accommodations outside the downtown core.

Nearby recreation includes Horsetooth Reservoir and access toward the Poudre Canyon area. Buyers should evaluate actual drive times to the specific trailheads, recreation facilities, venues, and destinations they expect to feature in their marketing.

Location is part of the opportunity, but nearby attractions do not automatically establish occupancy or room rates. Those assumptions should be supported by comparable properties and market research.

Planned Glade Reservoir

The planned Glade Reservoir site is reported to be approximately four to five minutes from the property.

Northern Water identifies Glade Reservoir as a planned component of the Northern Integrated Supply Project. Its current project information anticipates construction of Glade Reservoir components beginning in 2027. It is a future project, rather than an operating recreation destination.

Proximity could become relevant to a future hospitality strategy. Buyers should evaluate construction schedules, eventual public access, road changes, and recreation plans as they develop. Future demand or a claim that Elkhorn will be the closest lodging should not be assumed.

Renovation History and Current Planning

Reported critical infrastructure updates to the motel in 2006 included electrical, plumbing, and roof structure.

Those improvements are useful background for a buyer’s investigation. Buyers should request available documentation and have contractors assess the present condition and remaining service life of the systems.

Identified exterior renovation considerations include fascia and areas of exterior wood deterioration. A broader inspection should establish the full scope of work.

Important items to evaluate include:

• Roofing, drainage, and exterior building condition.
• Electrical and plumbing systems.
• Heating, cooling, and water heating.
• Bathrooms and kitchenettes.
• Fire safety and applicable accessibility requirements.
• Water service and septic condition and capacity.
• Parking, circulation, and exterior lighting.
• Permit requirements for the proposed improvements.

Some historical drawings include a proposed addition that was never built. That unbuilt space is not part of the existing accommodations or an approved expansion opportunity.

Current Operations and the Investment Case

The property has been described as operating with longer stays within a nightly lodging model. A buyer considering a different approach should investigate how current operations compare with the proposed business plan.

A change in finishes, booking systems, or guest positioning may create opportunities. It can also introduce additional costs, seasonal variability, and a transition period.

Before estimating returns, buyers should request and review:

• Available historical income and expenses.
• Current occupancy and rental agreements.
• Actual collections and owner-paid utilities.
• Maintenance and capital improvement history.
• Insurance costs.
• Renovation estimates and operating reserves.
• Comparable room rates and occupancy assumptions.

Current occupants, rental agreements, and applicable notice requirements also affect renovation timing. A phased remodel may be worth investigating, but room availability and continued income during construction should be established before relying on that approach.

This is an operating property that needs financial underwriting. A projected return should connect each revenue assumption to the costs required to achieve it.

Is This Relevant to Multifamily Investors?

Buyers searching for multifamily renovation opportunities in Northern Colorado may find Elkhorn worth evaluating because it combines multiple lodging accommodations with an attached residence.

However, motel rooms should not automatically be treated as conventional apartment units. Lodging use, residential use, financing, insurance, and operating costs can differ.

Converting motel accommodations to permanent apartments or dividing the residence into additional dwellings would require a separate review of what is permitted and feasible.

The existing property offers a hospitality investment to investigate. An apartment conversion is an additional concept that would need its own approvals and financial analysis.

Financing an Owner Operated Motel

The attached residence may make the property appealing to a buyer who wants to live onsite. That does not automatically qualify the entire purchase for a standard owner occupied home loan.

The lodging business and residential component require a lender to evaluate the property’s mixed use, income, appraisal, condition, and the buyer’s operating plan.

Buyers should speak with lenders experienced in hospitality and mixed use properties early in the process. A lender can assess acquisition financing, renovation funding, required equity, reserves, and how the residence affects underwriting.

Any loan program or seller financing proposal remains subject to its own eligibility requirements and agreed terms.

Tax Planning for a Short-Term Lodging Investment

A lodging investment may offer depreciation and other tax planning considerations, depending on ownership, property use, participation, and individual circumstances.

The IRS distinguishes certain short-stay activities from rental activities for passive activity purposes. For example, an average customer stay of seven days or less can fall within an exception. Material participation and other limitations still affect the treatment of losses. Simply owning a motel or working 100 hours does not guarantee an offset against other income.

Buyers should have their CPA evaluate the business and personal residence separately, along with any proposed cost segregation or depreciation strategy. The investment should make financial sense on its operating fundamentals.

Frequently Asked Questions About Elkhorn Motel

Where is Elkhorn Motel located?

Elkhorn Motel is at 4332 W County Road 54G, Laporte, Colorado 80535, in Larimer County. It is approximately 10 minutes from Old Town Fort Collins.

How many motel units are included?

The property has 14 existing motel units, plus an attached seven-bedroom residence. The residence is separate from the motel room count.

Do the motel rooms have kitchenettes?

Kitchenettes are included in all but one motel unit. The accommodations include studio and one-bedroom layouts.

What is the asking price?

The asking price is $2,750,000, including a $300,000 remodel component. A $2,450,000 purchase without that component is an alternative to discuss with the listing agent.

Can the buyer live at the property?

The attached seven-bedroom, four-bath residence provides an onsite housing option to evaluate for an owner operator.

Can the residence become a duplex?

The upstairs addition was intended for a future lock-off arrangement, and plumbing exists for a second upstairs kitchen. Creating separate dwelling units would require verification and any necessary approvals.

Can the property be operated through Airbnb?

The motel accommodations may be marketed through booking platforms consistent with their permitted lodging use. The attached residence has different rental limitations and should be evaluated separately.

Is this a finished boutique hotel?

No. A boutique motel or hotel is a potential renovation and operating concept. Buyers should establish the scope, costs, and applicable approvals.

Is Glade Reservoir open?

No. Glade Reservoir is a planned project. Buyers should review Northern Water’s current updates when evaluating future proximity and recreation possibilities.

Does the sale include the addition shown on old plans?

The proposed addition shown in some historical drawings was never built. It is not included as existing space.

Are returns or tax savings guaranteed?

No. Returns depend on the purchase terms, renovation costs, financing, operating performance, and management. Tax results depend on the buyer’s circumstances and applicable rules.

How can I get more information or schedule a showing?

Contact Cody Walker with SOURCE Home Group at eXp Realty, LLC to request current property information, discuss your intended use, or arrange a showing.

Request Property Details or Schedule a Tour

If you are evaluating a Northern Colorado motel investment, a boutique hospitality renovation, or an opportunity to live onsite and operate a lodging business, I can help you review the available information and identify the next questions to investigate.

Cody Walker
SOURCE Home Group | eXp Realty, LLC
Phone: 970-528-0604
Email: cody@sourceofhome.com
Website: cody.sourceofhome.com

View Elkhorn Motel details and request more information.

When reaching out, let me know whether you are considering an owner operated motel, a renovation investment, or another lodging model. That helps us focus on the property information most relevant to your plans.

Property information reflects available listing details, seller information, and guidance obtained for the listing. Price, availability, and operating conditions may change. Buyers should independently verify measurements, unit configurations, permitted uses, rental requirements, condition, financial records, and all information material to their purchase.