For Sale
$549,000

21 Polk StColorado Springs, CO 80907

Charming Victorian, high ROI potential.

Overview

Added:
Dec 11, 2024
Days on market:
116
This captivating 1-unit, 2-story Victorian apartment building at 21 W Polk St, Colorado Springs, CO 80907 presents a unique investment opportunity. Built in 1904, this 1,795 square foot property sits on a 7,125 square foot lot and boasts 6 parking spaces. Currently owner-occupied, it offers immediate income potential as a long-term rental, short-term rental, or Airbnb. The property features three bedrooms and two bathrooms, showcasing original restored wood floors, stained-glass windows, a cast-iron fireplace, a remodeled kitchen with a breakfast bar, a spacious dining room with deck access, and a private backyard shaded by mature trees. Upstairs, three spacious bedrooms with vaulted ceilings and a private balcony add to the charm. The full bath includes a cast-iron clawfoot tub. Its prime location near downtown Colorado Springs, I-25, hospitals, schools, and public transportation makes it highly desirable. The property is zoned R-2 and has a 100% occupancy rate (as of July 30, 2024). The asking price is $549,000, with a 5.46% cap rate and a Net Operating Income (NOI) of $30,000. This exceptional property offers a blend of historical character and modern convenience, making it an ideal investment for both owner-users and investors seeking a high return. The property's proximity to Penrose Hospital makes it particularly attractive for medical professionals.

Highlights

  • Fully remodeled 2-story Victorian apartment building.
  • Excellent income potential: long-term rental, short-term rental, or Airbnb.
  • Prime location near downtown Colorado Springs, I-25, hospitals, schools, and public transportation.
  • 6 parking spaces on a 7,125 sq ft lot.
  • Strong financials: $549,000 asking price, 5.46% cap rate, $30,000 NOI.

Property Details for 21 Polk St

Property type
Residential income homes, Apartment buildings
Square Feet
1,795 SF
Class
B
Year Built
1904
Buildings
1
Stories
2
Units
1

Location Insight

City
Colorado Springs
County
El Paso
State
Colorado
Latitude
38.8721576
Longitude
-104.8237582
21 Polk St, Colorado Springs, Colorado

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21 Polk St
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