2601 Pikes Peak Ave Colorado Springs, CO 80904

This exceptional investment opportunity presents two attached duplexes, totaling four units, built in 2004. The property boasts a desirable location in Old Colorado City, Colorado Springs, offering excellent walkability to local amenities, dining, and recreation. The 6,254 square foot property features a mix of unit types: two spacious 1,800 square foot, three-bedroom, 2.5-bathroom units with attached 400 square foot garages, and two 600 square foot studio flats. Premium finishes throughout include stainless steel appliances, washer/dryers, fireplaces, and private patios/decks. The main floor units offer stunning Pikes Peak views. Currently, three units are under long-term leases, and one unit operates as a short-term rental, providing flexibility for investors. The property includes eight parking spaces and sits on two parcels at 2601 and 2605 W Pikes Peak Ave, zip code 80904. With a current NOI of $85,784 and a pro-forma NOI of $93,933, this stabilized Class B property offers a 4.64% cap rate and a pro-forma cap rate of 5.08%. The asking price is $1,850,000, translating to $462,500 per unit and $295.81 per square foot. The property is zoned R5 and presents a turnkey investment opportunity for various buyer profiles, from short-term rental operators to long-term investors or owner-occupants. Its prime location and high occupancy rate (100%) make this a compelling investment in a thriving Colorado Springs neighborhood. Proximity to major attractions like Garden of the Gods and Manitou Springs further enhances its appeal.