Elk Lake Resort has been put up for sale; asking price $4.56 million

(Update: adding new details)

Resort went on the market two weeks ago

BEND, Ore. (KTVZ) -- After taking over ownership of the Elk Lake Resort in 2013, owners Pat and Wendy Prive are ready to sell the 21-acre property located on the southwest slope of Mt. Bachelor.

Since then, they've increased their cash flow by 300%, according to Brian Fratzke, principal broker and founder of Fratzke Commercial Real Estate, the firm in charge of the listing.

That's allowed them to make plenty of upgrades along the way.

There's a new outdoor kitchen, an expanded deck and new docks in the marina. Those are additions to an already appealing destination, with camping, lodging, paddle boarding, hiking, biking and kayaking at the ready.

It's no wonder people like Robert Wielgus and his family stop by there several times a year.

"It's beautiful,” Wielgus told NewsChannel 21 Wednesday. “Look, it's gorgeous here. We go canoeing here, and it's nice and cool when it's too hot down below in Bend."

After seven successful years, the Prives are ready to move on. Fratzke said Pat and Wendy are simply “getting into the next chapter of their life.”

Still, Fratzke said they are in no rush to sell the property.

As for the new owners -- they'll have to pay a pretty penny to take over the resort. The asking price is $4.56 million.

Fratzke said several interested parties have already signed non-disclosure agreements and taken private tours.

However, Fratzke says many of them want a hands-off investment, which poses a problem. Fratzke said the new owner will be expected to have an active role in managing the resort, which will be celebrating its 100th anniversary in 2021.