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  • $6,995,000

    507 First Street, Crested Butte, CO 81224

    3beds
    2,069sqft
    : 
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    Stick Built
    Built in 2001
    7,840 Square Feet Lot
    $6,533,100 Zestimate®
    $3,381/sqft
    $-- HOA

    What's special

    Kiva-style gas fireplaceCreekside compoundHistoric charmArtisan craftsmanshipPrivate alleySpacious master suiteSonoma forge fixtures
    BEAR ALLEY - Unwrap the fairytale - A Once-In-A-Lifetime Creekside Compound: Tucked away on a private alley in the most desired west side of town – this enchanting creekside compound is a secret sanctuary, impossible to replicate in character or setting. Hidden along 200 feet of riverfront on Coal Creek, BEAR ALLEY is a first-time-to-market treasure. There is nothing like it. There never will be. Featured in premier architectural lifestyle publications and showcased on HGTV, BEAR ALLEY is a masterful blend of scale, artistry, light and privacy. It’s unique character of warmth and magic leaves visitors captivated, charmed, and breathless. Historic Charm Meets Artisan Craftsmanship: Constructed in 2001, the property incorporates two original 100-year-old coal sheds — meticulously restored and grandfathered-in as livable spaces that offer both personality and a timeless connection to Crested Butte’s past. The historic structures are seamlessly fused with custom craftsmanship throughout. The home’s open floor plan is anchored by soaring 30-foot ceilings and massive beams salvaged from the largest, century-old warehouse on the Columbia River. Original iron bolts remain intact, lending authenticity and character rarely found in modern construction. The exterior timber on the main house was sourced from Montana’s Elkhorn Mine – weathered lumber as old as the original coal sheds, blending with the home’s aged patina. The line between old and new vanish in the craftsmanship, At the heart of the home lies its true masterpiece: 18-inch-wide Eastern Heart Pine floors, reclaimed from an 18th-century Virginia barn. Civil War soldiers once walked these planks – each board carrying the weight of history. The Master Wing: A Private Sanctuary: The master bedroom wing is a private retreat all its own – a former coal shed now transformed into a sanctuary just inches from your own stretch of Coal Creek. Above the bed, skylights frame the full moon; below, the soothing sound of running water lulls you to sleep. This spacious master suite features a kiva-style gas fireplace, an Ann Sacks soaking tub, custom concrete sinks, and Sonoma Forge fixtures – all accenting the combined bedroom and bathroom experience. The Bunkhouse: Whimsey For A New Generation The BUNKHOUSE – a third bedroom that sleeps four – is the second restored outbuilding, offering children their own whimsical world just steps from the main house. Part fort, part hideaway, it captures the spirit of Crested Butte’s slightly askew and delightfully untraditional approach to living. A Setting Like No Other: Shaded by Crested Butte’s oldest and most majestic cottonwoods, every door opens to a private interior yard where wildflower gardens bloom, a creekside flagstone patio invites al fresco dining, and a hot tub rests at the water’s edge. Here, barefoot relaxation is a way of life — even from a lounge chair set right in the creek. Secluded at the end of this dead end gravel lane, BEAR ALLEY is free from traffic, tourists and noise – yet just two blocks from the vibrant energy of Elk Ave. Upscale dining, boutique shopping, day spas and lively bistros are steps from your front door, while hiking and biking trails, schools, churches, and ice rinks are all within easy walking distance. Only one other home shares this private alley, offering the rare luxury of living in town with unmatched privacy. More Than A House – A Legacy: A legacy like this cannot be built again. This is more than a residence – it is a generational sanctuary. A rare offering of privacy, location, water and soul.
    35 days
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    1,779
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    107
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    Zillow last checked:

    Listing updated:

    Listed by:

    Channing Boucher H:970-596-3228,

    LIV Sotheby's International Realty - CB

    Source: CREN,MLS#: 835650MLS Logo

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      Facts & features

      Interior

      Bedrooms & bathrooms
      • Bedrooms: 3
      • Bathrooms: 4
      • Full bathrooms: 1
      • 3/4 bathrooms: 2
      • 1/2 bathrooms: 1
      Primary bedroom
      • Level: Lower
      Dining room
      • Features: Eat-in Kitchen, Kitchen Island, Separate Dining
      Appliances
      • Included: Dishwasher, Disposal, Dryer, Exhaust Fan, Range, Refrigerator, Washer
      • Laundry: W/D Hookup
      Features
      • Vaulted Ceiling(s), Guest Quarters
      • Flooring: Hardwood, Tile
      • Windows: Window Coverings
      • Has fireplace: Yes
      • Fireplace features: Bedroom, Living Room
      Interior area
      • Total structure area: 2,069
      • Total interior livable area: 2,069 sqft
      Video & virtual tour

      Property

      Features
      • Levels: Two
      • Stories: 2
      • Patio & porch: Deck
      • Exterior features: Irrigation Water, Landscaping, Lawn Sprinklers
      • Has spa: Yes
      • Spa features: Hot Tub, Private
      • Has view: Yes
      • View description: Mountain(s)
      • Has water view: Yes
      • Water view: Stream/River
      • Waterfront features: Creek
      Lot
      • Size: 7,840 Square Feet
      • Features: Boundaries Surveyed
      Details
      • Parcel number: 325503153004
      • Zoning description: Residential Single Family

      Construction

      Type & style
      • Home type: SingleFamily
      • Architectural style: Other
      • Property subtype: Stick Built
      Materials
      • Wood Frame, Wood Siding
      • Roof: Metal
      Condition
      • New construction: No
      • Year built: 2001

      Utilities & green energy

      • Sewer: Public Sewer
      • Water: Central Water, Public
      • Utilities for property: Electricity Connected, Internet, Natural Gas Connected, Phone - Cell Reception

      Community & HOA

      Community
      • Subdivision: None
      HOA
      • Has HOA: No
      Location
      • Region: Crested Butte
      • Elevation: 8850

      Financial & listing details

      • Price per square foot: $3,381/sqft
      • Tax assessed value: $2,490,410
      • Annual tax amount: $12,697
      • Date on market: 6/7/2026
      • Electric utility on property: Yes

        Estimated market value

        $6,533,100

        $6.21M - $6.86M

        $5,004/mo

        Price history

        DateEventPrice
        6/7/2026Listed for sale$6,995,000$3,381/sqft
        Source: CREN #835650 Report a problem

        Public tax history

        YearProperty taxesTax assessment
        2025$12,698 +2.8%$155,650 -18.3%
        2024$12,353 +21.7%$190,520 +3.2%
        2023$10,146 +4.8%$184,590 +35.3%
        2022$9,681 +36.8%$136,400 +2.4%
        2021$7,075 -6.5%$133,170 +28.7%
        2020$7,564 +26.9%$103,510 -7.1%
        2019$5,959 $111,440 +29.6%
        2018$5,959 $85,960
        2017$5,959 -0.7%$85,960 +1.8%
        2016$5,998 +2.4%$84,440
        2015$5,857 $84,440 -1.3%
        2014-- $85,580 +25.1%
        2011-- $68,400 +4.7%
        2010-- $65,300
        2009-- $65,300
        Find assessor info on the county website

        Monthly payment

        Est. payment

        Payment breakdown

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        All calculations are estimates and provided by Zillow, Inc. for informational purposes only. Actual amounts may vary.
        HOA fees may include property taxes on listings classified as Co-Ops. Contact the listing agent and/or owner for fee details.
        Mortgage interest rates are dependent on a number of factors, including credit score, down payment, and repayment length. Interest rate data provided by Zillow Group Marketplace, Inc. as of 1/1/1970 from various mortgage lenders with which we have lead or other similar arrangements; the Estimated Payment is an average of those rates.
        See how much you could borrow to make a competitive offer.

        Climate risks

        Neighborhood: 81224

        Getting around

        66 / 100
        Somewhat Walkable
        53 / 100
        Bikeable

        Nearby schools

        GreatSchools rating
        Schools provided by the listing agent
        • Elementary: Crested Butte Community K-12
        • Middle: Crested Butte Community K-12
        • High: Crested Butte Community K-12

        Source: CREN. This data may not be complete. We recommend contacting the local school district to confirm school assignments for this home.

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