With a real mix of old Aspen and exciting new homes and duplexes, East Aspen might provide the most bang for your buck in the Roaring Fork Valley. East Aspen is located east of the Roaring Fork River, up Highway 82 toward Independence Pass. East Aspen features a nature preserve, The Aspen Club & Spa, and the Roaring Fork River. And let's not forget that it's the gateway to camping, the Grottos, Independence Pass and tons of outdoor fun!
With stunning views and easy access to town, it's no secret why the area is becoming more and more popular with prospective buyers. Real estate options in East Aspen include The Aspen Club, Morningstar, The Preserve and Stillwater - some of the most exclusive neighborhoods in the valley, that are both private and yet close to town.
This week, our blog team sits down with Frias Properties of Aspen broker Jennifer Fulton Bennett to discuss East Aspen and all that it has to offer. Here we go:
Q: Is it a big neighborhood? A: "There are many different subdivisions within East Aspen, some of the most recognizable are: Aspen Club, Aspen Grove, Eastwood, Knollwood, Mountain Valley, North Star, Riverside and Smuggler Loop. The Aspen Club, probably most recognizable, is comprised of several townhouses that boarder the river and surround the Aspen Club’s amenities. Trails abound in this neighborhood with easy access to the Ute trailhead and Indy Pass alike. On the other side of Highway 82 you will find, Mountain Valley, Knollwood and Eastwood. Most lots scale the mountain with steep grades giving the homes great views from Independence Pass to Aspen Mountain."
Q: If you were to describe this neighborhood to a friend who has never been to Aspen, how would you describe it? A: "Best Aspen value. Prices are attractive to long-term residences who desire single family living versus the higher-end of the market in core condos or the West End."
Q: Is this a new development or a more established one? Tell us a little about the history of this neighborhood. Are the homes original, mostly remodeled or overall new builds? A: "East Aspen is an eclectic mix of old-meets-new with opportunity to build. There are several vacant lots on the market and plenty of projects. Most of the current homes were built in the 1960s and 1970s. Buyers are replacing these homes, or doing major remodels and adding value to this area."
Q: Discuss this neighborhood’s proximity to town and the amenities and activities located nearby. A: "Most of the homes on the market in East Aspen are within two miles of the gondola. There are daily shuttles and many bike paths to take into town. With pocket parks and endless trails, it’s a great place to be in the summer. Likewise in the winter, due to the closure of the Pass, cross-country ski trails can lead you all the way up Indy Pass."
Q: Tell us more about recreational opportunities nearby. A: "Take a walk along the river, over to the Aspen Club and into town, paddle board down the North Star Preserve, bike Indy Pass."
Q: Are there a lot of full-time, live-in residents in this neighborhood or is it mostly second-home owners? A: "East Aspen is a pleasant mix of residents. There is a nice mix of full-time residents as well as second-home owners. However, because the price point of the neighborhood is competitive with other Aspen markets, you will find more full-time residences and families."
Q: How often do buying opportunities come along in this neighborhood? A: "Currently there are 25 single family homes on the market with an average price per square foot around $1,200. Over the last year, there have been 14 single-family homes sales ranging from $1.6 million to $8 million and four vacant lot sales ranging from $2.3Â million to $3 million."
Q: From an investment standpoint, why should I buy property in this neighborhood? A: "More bang for the buck."
Q: Is there solid rental potential if I buy in this neighborhood? A: "I see a demand for single-family home rentals. It has become an attractive option for the rental guest with a large family or multi-family vacation. The major drawback is the distance to the core. Although, most residences are within two miles to the core, transportation logistics can be a deterrent."
Q: Is this neighborhood a good place to raise a family? A: "Yes, there are plenty of full-time residents in the area and therefore families! Families can buy bigger houses in this area with more land. Kids have other kids to play with in the neighborhood and the community has pocket parks scattered throughout. Biking trails bring families and friends together just as all the other outdoor activities this community has to offer. Smells of barbecues linger as summer activities are in full swing."
Q: Is this a pet-friendly neighborhood? A: "Yes, for home owners. Lots of trails and parks. Dogs must stay on leash on the trails, but there are plenty of them to be walked!"
Thanks Jennifer for giving us the lowdown on East Aspen!
