YotelPAD Information, Listings, and Market Trends
YotelPAD generated significant buzz when introduced in 2020 with its innovative design, modern aestetic, and efficient use of space. The PADS, aka rooms, are compact with specialized, modern Italian furniture to that allows a 400 total square feet to easily contain a kitchenette, dining table, couch and coffee table, and beds for 4! The YotelPAD is family oriented with a pool, fitness center, coinless gameroom, transforming PADS, and location in the heart of Canyons Village. Rooms typically feature partial Canyons Village or Uinta Mountains.
With 144 rooms, real estate investors interested in a resort condo can usually find units for sale. Currently, 11 units are available for purchase through the Park City MLS. The least expensive YotelPAD property currently listed is $367,000. The most expensive YotelPAD property currently listed is $719,000. The average property costs $477,909.
Table of Contents
Property Type
Views
Amenities
YotelPAD Condos for Sale
YotelPAD Park City has 11 properties for sale. Prices range from $367,000 to $719,000 with the average of $477,909.Here are 9 of the current properties for sale.
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YotelPAD Sales Summary
Last year saw 13 sales and there have been 4 sales this year.The average MLS listed condo has a studio with 1 bath, covers 340 total square feet, and was built in 2021.We estimate a median sales price for a condo of these specifications to be $461,541. The most common configuration has a studio at 70% of the 144 condos.
The Canyons area contains the YotelPAD community. You can find an in-depth analysis of property types, sales activity, and amenities along with a discussion of other communities at the Canyons details page.
YotelPAD Unit Overview
YotelPAD likes to say "design equals comfort" and they have thought through every details. The PADs, as they like to call their condos, have a stylish and modern design with white quartz countertops, stainless appliances, cooktop and microwave, and dishwasher. The furniture sleek and transforming with murphy beds that become couches as shown in their instructional video. You read that right, the room comes with furniture instructional videos – the kids will dig it.
The PADs come in studio along with 1, 2, and 3 bedroom configurations. The studio make up 2/3 of the 144 YotelPAD units with most of the remaining units coming in the 1 bedroom configuration.
Amenities
The rooms are compact yet the amenity list is expansive.
- Pool and Hot Tub: a beautiful, large pool to enjoy the warm summer days
- Coinless Game Room: play PAC-Man, Iceball, and pool without ever depositing a token
- Fitness center: complete with free weights, Peleton bikes, treadmill, and steam room
- Valet Parking: free parking service to free you from navigating the underground parking structure
- Equipment Valet: equipment storage and boot driers
- Grab & Go: grocery style express shopping for drinks, snacks, and typical hotel sundries
Almost Ski-In Ski-Out at YotelPAD
Experience the convenience of almost ski-in ski-out at YotelPAD Park City, located in central Canyons Village. A short walk from the ski valet takes you to the Red Pine Gondola and the Orange Bubble Express, allowing you to swiftly transition from the comfort of your room to the thrill of the slopes.
After a day of skiing, enjoy the vibrant après ski scene at the expansive ski beach in Canyons Village. Then, it’s just a few steps back to YotelPAD Park City. Turn your skis into the ski valet and relax, knowing that everything has been taken care of. Experience the perfect blend of convenience and luxury at YotelPAD Park City.
What is a Condotel?
YotelPAD Park City is classified as a condotel. A condotel is a condominium that operates similar to a hotel with a registration desk, booking website, cleaning services, and amenities. Like a normal condominium, the units have individual owners, some of whom may live in the complex full time. A condetel provides a professionally run rental program that provides the hotel-like guest experience during check-in and stay while also marketing the property to fill the rooms.
Park City has a number of condotels with many located near the resorts. They often sport rich amenities, such as shuttle services, pools, fitness centers, restaurants, bars, gaem rooms, and more. Owners utilizing the rental program may reserve their unit for personal use, often with some cumulative maximum days per year to ensure room availability throughout the year.
There are pros and cons to condotel ownership.The rental program generally charges a percentage of all rental fees for marketing and guest services. The rental program requires standards for furniture, dishware, linens, and other decorations so guests have a consistent experience. The rental income can help offset ownership expenses though you will have HOA fees in addition to rental program costs.
Transfer Fee
The YotelPAD has a transfer fee of 2% of the sale price on all real estate sales and is typically paid for by the Buyer. The fee is paid to the Canyons Village Management Association, Inc. (CVMA) and contributes to an array of services designed to benefit all of its members, including the operation of the Cabriolet lift, concerts, fireworks, Canyons Village Connect, the complimentary shuttle service, road maintenance, snow removal, holiday tree lights, and landscaping.
A transfer fee is a closing cost charged by a Homeowners’ Association (HOA) at the time of a property sale. In Park City, the trend is towards instituting transfer fees and they are becoming more common. The amount can range from a few hundred dollars to a 2.5% of the sales price! Recent popularity among HOAs has been attributed to an ability to raise money without needing to raise recurring homeowner fees.
As with everything in real estate transactions, transfer fees are negotiable. This is especially true in a buyer's market. The Slope Style Realty team has experienced success getting the buyers to pay the transfer fee in weak housing markets.
(Transfer fees are not to be confused with transfer taxes, which are one-time fees imposed by some localities at the time of a sale.)
You can read more about the YotelPAD transfer fee at CVMA Assessments and Transfer Fees.
Realtor Notes
- Trip Advisor Top Rated Mountain Resort — Voted #3 In North America!
YotelPAD Quick Facts
| Property Type | |
|---|---|
| New Construction | No |
| # Active Listings | 0 |
| Year Built | 2020 |
| HOA Fee | Yes |
| Nightly Rentals Allowed | Yes |
| Amenities |
|
| Views |
|
| Transfer Fee | 2% of the sale price on all real estate sales |
| Website | https://www.yotelpadparkcity.com/ |
| Address | 2670 W Canyons Resort Drive Park City, UT 84098 |
Canyons Neighborhoods
You may be interested in checking out all Canyons Neighborhoods.
Want More YotelPAD Information
At Slope Style Realty, we have decades of experience helping clients buy and sell resort properties, primary residences, investment properties and second homes in Park City. Our team consists of professionals who have extensive knowledge of the Park City real estate market's varied communities. We are passionate about helping our clients find the perfect home and are committed to providing exceptional service throughout the buying and selling process. Whether you're looking for a house, condo, townhouse, or land in Park City, we have the expertise to help you achieve your real estate goals. Please contact us today so we can help you meet your Park City real estate goals.
Andy Krumelandy@slopestylerealty.com
Andy is a former naval aviator and Silicon Valley entrepreneur, having spent over 15 years delivering groundbreaking mobile and SAAS products. Andy brings his technical experience and innovative approaches to Slope Style Realty and KW Park City Keller Williams as a licensed Realtor.
Andy is a former naval aviator and Silicon Valley entrepreneur, having spent over 15 years delivering groundbreaking mobile and SAAS products. Andy brings his technical experience and innovative approaches to Slope Style Realty and KW Park City Keller Williams as a licensed Realtor.