A rare opportunity awaits the discerning investor: acquire a stately, high-cash-flow asset in the heart of downtown Colorado Springs. Located on the coveted Millionaire’s Row in the historic Old North End, this magnificent property stands as a testament to turn-of-the- century elegance while delivering robust, modern-day returns. This is the… Read More turn-key investment you've been seeking, perfectly positioned for a seamless addition to any serious portfolio or a strategic close for a 1031 Exchange. This grand asset comprises a majestic Main House hosting seven units and a separate Carriage House providing three additional units, resulting in an impressive 10 unit property. With approximately 13,663 sq ft. of rentable space on a sprawling half-acre lot and dedicated parking, the property minimizes vacancy risk and maximizes tenant appeal in a high-demand market. It currently generates $12,000+ per month in income, with proven potential to reach ~$13,000. Recent exterior painting on both structures provides strong curb appeal, and while units vary in condition, they offer a clear value-add path for strategic upgrades over time to capture the full market premium. Location drives value, and this address delivers: the property is situated just two blocks north of Colorado College (CC) and tenants benefit from a truly walkable lifestyle, with easy access to the Pikes Peak Greenway Trail and the expansive Monument Valley Park, as well as quick access to downtown Colorado Springs’ vibrant restaurant and bar scene and a quarter-mile from I25 for effortless commuting. This property is not just a building; it is a piece of Colorado Springs history and a reliable income engine. Don't miss the opportunity to own a legacy property with superior cash flow in one of Colorado Springs' most desirable neighborhoods. Financials and rent rolls are available upon request to qualified buyers. Contact me today to schedule a private, discreet showing! Read Less
Construction Materials: "Frame", Effective Year Built: 2017, Occupant Type: Tenant, Total Area: 2604, Unit Count: 5, Unit Types: "Array", "Array", "Array", "Array", "Array", Built in 1919, 5 total units
Expenses
Operating Expense: $25,853
Home Owner's Association
Association Fee Total Annual: $0, Association Fee Annual: 0.00, Association Fee 2 Annual Expense: 0.00, Association Fee 3 Annual Expense: 0.00
Listings courtesy of METROLIST, INC., DBA RECOLORADO® as distributed by MLS GRID, based on information submitted to the MLS GRID as of . Information is provided exclusively for consumers' personal noncommercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Data is deemed reliable but is not guaranteed by MLS GRID. All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may be listed or sold by various participants in the MLS, who may not be the office/agent presenting the information.
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