(Update: new details added)
Resort went to market two weeks ago
BEND, Ore. (KTVZ) – After acquiring the Elk Lake Resort property in 2013, owners Pat and Wendy Prive are ready to sell the 21-acre property located on the southwest slope of Mount Bachelor.
Since then, they have increased their cash flow by 300%, according to Brian Fratzke, senior broker and founder of Fratzke Commercial Real Estate, the company in charge of the listing.
This allowed them to make many improvements along the way.
There is a new outdoor kitchen, an expanded deck and new docks in the marina. These are additions to an already attractive destination, with camping, lodging, paddleboarding, hiking, biking and kayaking all right at your fingertips.
It’s no wonder that people like Robert Wielgus and his family stop by there several times a year.
“It’s gorgeous,” Wielgus told NewsChannel 21 Wednesday. “Look, it’s beautiful here. We’re going canoeing here, and it’s nice and cool when it’s too hot down in Bend.”
After seven successful years, the Prives are ready to move on. Fratzke said Pat and Wendy were just “entering the next chapter of their lives.”
Still, Fratzke said they were in no rush to sell the property.
As for the new owners, they will have to pay a pretty penny to take over the complex. The asking price is $ 4.56 million.
Fratzke said several interested parties have already signed nondisclosure agreements and conducted private visits.
However, Fratzke says many of them want a hands-off investment, which is a problem. Fratzke said the new owner is expected to take an active role in running the complex, which will celebrate its 100th anniversary in 2021.