A 96-Room Motel in Denver Listed for Only Rs 875, But There's a Major Catch for the New Owner
A 96-room motel in Denver is listed for just Rs 875 ($10), but the buyer must commit to a major renovation and convert it into long-term housing for the homeless, making it a unique investment.
A motel in Denver, Colorado, has become the center of attention online after being listed for an unbelievably low price—just Rs 875, or about $10. While it may seem like a bargain for anyone looking to invest in a property, there's a significant twist: the buyer must commit to a major renovation project and a specific use for the building. The property in question, named Stay Inn, has 96 rooms and is located in a prime area of the city. However, the new owner will be required to transform it into long-term supportive housing for homeless individuals, which is the key condition attached to the sale.
The building was purchased by the city of Denver in the summer of 2023 for roughly $9 million. Rather than carrying out an extensive overhaul, the city opted for minimal repairs to ensure the property remained safe for use. Kitchenettes were upgraded, and a new sprinkler system was installed, but other essential repairs, such as the walkways, railings, and electrical systems, remain incomplete.
Currently, the Stay Inn is being used as temporary accommodation for homeless individuals. Additional shed-like structures have been set up in the parking lot to further address the issue. This sale is part of Denver’s ongoing effort to create more affordable housing options for the city's homeless population, a number that has been steadily rising.
But What's the Catch
According to a recent report from the Metro Denver Homelessness Initiative, the number of homeless individuals in the Denver metro area has increased by 10% between 2023 and 2024. Nearly 10,000 people are currently living without a permanent residence in the region, highlighting the urgent need for affordable housing solutions. While the price tag for Stay Inn may seem too good to be true, potential buyers will need to invest substantial time and resources to make the property suitable for its intended purpose. Transforming the motel into supportive housing will require significant renovations to meet the needs of those who will eventually call it home.
The city's decision to sell the property reflects its broader strategy of addressing homelessness and creating stable housing for those most in need. With this unique approach, Denver is exploring innovative ways to combat the growing housing crisis in the area.
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