Mammoth Mountain Chalets in Mammoth Lakes:
The Mammoth Mountain Chalets in Mammoth Lakes are a unique clustering of 21 cabins that sit on a 12-acre forest service lease. These cabins are all on permit with the United State Forest Service and were originally permitted with the intent of being rented to the open public. Having the ability to rent a home on a nightly basis is a unique characteristic in Mammoth Lakes, particularly in an area as beautiful as this.
The Mammoth Mountain Chalets are located across the street from the Main Lodge of Mammoth Mountain Ski Area, and are also adjacent to the Mammoth Mountain Inn, Yodler, Dry Creek Bar and of course forest service lands. Hiking, fishing and access to town are just a bus ride away.
Unit #16 is currently being offered for sale and this is my favorite unit in the project for a number of reasons: first the cabin is located closest to the Mammoth Mountain Inn and as a result has an open view of Chair 1, Main Lodge, and the slopes from the porch & living room. Its amazing! This cabin has also been upgraded and has an effective age that is much newer than its actual age of 52 years. The bathrooms and kitchen have granite counter tops and tile flooring, while the exterior shows little sign of wear or tear.
Unique Characteristics about the property:
Forest Service Lease – Part of a master Forest Services lease, with the current lease extending to 2028. All Chalets are subject to the master lease.
Nightly Rentals – Unlike many homes in Mammoth Lakes, which cannot be rented on a nightly basis, the Chalets must be made available for nightly rentals to the public. Rentals must run through the Mammoth Mountain Chalets (the Corporation holding the master lease). Income and Expenses are managed by the Mammoth Mountain Chalets with proceeds distributed to owners after all pro-rata share of expenses have been paid.
Ownership – Rights to the property are held by way of a stock certificate vs. a traditional real estate grant deed. Because of this, ownership is considered stock vs. real property and therefore won’t likely qualify as a 1031 exchange property.
Loans – The Chalets are typically purchased with cash as traditional lenders are unable to lend on a stock certificate vs. real estate.
Call Matthew Lehman at 760-934-1110 or email matthew@MatthewLehmanRealEstate if you want more information on the Mammoth Mountain Chalets.