Victorian bed and breakfast in Five Points hits market for $4M

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Milan Doshi, owner of The Queen Anne Bed & Breakfast, has put the property and business up for sale for $4 million. (Lily O’Neill photo)

Milan Doshi had initially planned to sell The Queen Anne Bed & Breakfast after 10 years when he purchased it with his parents in 2008.

But 2018 came and went, and he said he didn’t have the heart to let it go.

“When we crossed that 10-year threshold, business was great as far as sales and repeat customers, and I really still enjoyed it, and still do to this day,” Doshi said. “So, we kept plugging away.”

Fast forward three years later, and the Doshi family is finally ready to sell the historic bed and breakfast, which is a nationally registered landmark, at 2147-2151 Tremont Place across the street from Benedict Fountain Park in Five Points. This week, they listed the property for $4 million.

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The Queen Anne Bed & Breakfast first opened in 1986. (Photos courtesy of LIV Sotheby’s International Realty)

“It was my legacy to run this place for the years that I did, but it feels like it’s time for that next chapter,” Doshi said. “We’re not in a desperate situation like last year when there were a lot of question marks surrounding what the market would look like. It’s back in a place where whoever wants to take this property over, whether to run the bed and breakfast or not, there’s so much potential. If there’s another mission someone else has for that space, then it might be that time, too.”

Doshi purchased the 13-unit bed and breakfast with his parents Arvind and Bharti in 2008 for around $1.4 million, according to property records. He operated the business over the last 13 years and his parents provided financial support.

Doshi said the bed and breakfast has seen 90 percent occupancy since reopening for full capacity in May this year after the pandemic. He plans to keep operating until he finds a new buyer.

Growing up, his parents owned a group of commercial hotels across southern Missouri, where Doshi is from, and they wanted to find another hospitality investment, but one that was more community-centric this time.

10.22D Queen Anne Tabor room

The home was built for Augusta Tabor’s brother, and her wake was later held there. This room is inspired by her.

“We looked at about 150 properties across the country before closing on The Queen Anne,” Doshi said. “The idea was trying to find the right community for this anti-franchise business model, where we’re mindful of where we source our food from, have a deeper connection with the people around us and make sure those who stay at our establishment feel they’re staying at a place that’s a better representation of the city, rather than another cookie-cutter hotel.”

The Queen Anne wasn’t for sale at the time, but Doshi got in touch with the previous owner, Tom King, after he was told that King had considered selling at one point.

“Tom wanted to keep it a bed and breakfast, so when he and I had some of these conversations about what my vision was, it felt like a good fit. The first time we came here and saw the park across the street, gardens in the back, and location and accessibility, we knew it was the best property we had ever seen in our search.”

Three and a half weeks before the Democratic National Convention, which was held in Denver that year, the family completed a nearly $100,000 renovation on the building in preparation for a full-house booking with The Hill’s newspaper staff.

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The Doshi family spent $100,000 renovating the bed and breakfast, including updating the kitchen.

“Every inch was covered in floral wallpaper and carpet,” Doshi said.

The renovation included new hardwood floors, a large custom wood dining room table for all the guests and platform beds in each room. Each room was also redesigned individually by a local artist, including Meow Wolf artist Andi Todaro.

The Victorian building was originally built in 1887 and designed by famed Denver architect Frank Edbrooke, who is responsible for The Brown Palace and The Oxford Hotel. It’s one of the last residential properties he designed that’s still standing.

Edbrooke designed it for Edwin Pierce, the brother of famed philanthropist Augusta Tabor. Doshi said stories have been passed down from each innkeeper, including that Augusta moved in with her brother amidst her divorce with Horace and her wake was held there. There’s a room dedicated to her in the inn.

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A photo of the bed and breakfast in the 1980s. (Courtesy of The Queen Anne Bed & Breakfast)

“This whole area was later annexed and targeted to get torn down by the city of Denver in anticipation for the ’76 Winter Olympics,” Doshi said. “The park was going to be the athlete and press village, and this used to be 12 total rows of Victorians. So there was a group of attorneys that zeroed in on this house for federal protection, and it became one of the building blocks of rejecting the ’76 Olympics. Chuck Hillstead, one of the attorneys, is the one that established this as a bed and breakfast in 1986.”

After Hillstead, King took over the bed and breakfast in 1991 and purchased the home next door at 2151 Tremont Place to add to the business. Together, the two Victorian homes total 9,102 square feet.

Flexible zoning allows for endless options to modify or transform the space, whether it’s short-term rentals, group living, corporate retreats, events, retail or restaurant use, Doshi said.

“Operating a full-service bed and breakfast in the world of Airbnbs and commercial hotels is a diminishing industry,” Doshi said. “It’s not easy by any means and takes a lot of work and commitment to the space. But I’d feel really proud if someone kept running it as a bed and breakfast and got to see the legacy of The Queen Anne continue. It’s a wonderful lifestyle if you have the gumption to want to have conversations with folks every day and enjoy doing that.”

The bed and breakfast is being marketed for sale by LIV Sotheby’s International Realty brokers Jon Goldberg and Michelle Seward, as well as Mike O’Neil with Pinnacle Real Estate Advisors.

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