1 /
20
Map
$692,304*
●
Multifamily -
Off Market
1012 Iowa Avenue
Colorado Springs, CO 80909
6 Beds
0 Bath
2488 Sqft
$540,000 - $658,000
Reference Base Price*
15.58%
Since Aug 1, 2021
National-US
Primary Model
About This Property
This is a wonderful income property!Located in Colorado Springs
near old downtown. Two units sitting on 3 lots! The potential in
this property is AMAZING!Currently, both units are rented outMain
house: 5bd 3 ba VACANTCottage house: 1 bd 1 ba @$1,100/month This
property is offered with a 6.34% CAP rate @599k! THAT'S AN
AMAZING INCOME PROPERTY & HARD TO FIND THESE DAYSBoth units were
completely renovated a little over 2 years ago. EVERYTHING in them
is new. From floors, appliances, paint to the water heater, HVAC,
and roof. Do not let yourself or your clients miss out on a
wonderful investment property like this. After recent discussions
with the city, we have discovered that 1012 Iowa ave (main house)
and 2014 e yampa (cottage house) both sit on the property lines for
3 lots. If wanted, a new owner could simply apply with the city to
properly divide those lots individually. Once done, the owner could
build 3 homes/townhomes on those lots. NOTE: The seller is
not pricing the property based on whether this ^ actually happens
or not. It is priced purely on income.The way it currently sits
with the two units, it is producing $3,400/month income and tenants
pay their own utilities. Since the property was so recently
updated, there have barely been any maintenance costs to the owner
each year. The total annual net income is about $39,000. We do not
have pictures of inside the cottage at this time but it has been
remodeled to the exact same design as the main house. Picture #2
shows the west side of the main house and the cottage house.
Unfortunately, that is the only picture we have that shows the
cottage. No showings on 2014 Yampa (cottage) until under
contract.DISCLOSURE: Legally, this is not considered a Duplex. This
is 2 homes, sitting on 3 lots.
The manager has listed the unit size as 2488 square feet.
The manager has listed the unit size as 2488 square feet.
Unit Size
2,488Ft²
Days on Market
-
Land Size
0.28 acres
Price per sqft
$241
Property Type
Multifamily
Property Taxes
-
HOA Dues
-
Year Built
1941
Price History
Date / Event | Date | Event | Price |
---|---|---|---|
Jul 23, 2021 | No longer available | - | |
No longer available | |||
Jul 22, 2021 | Sold to Nicholas Craven, Stacey Craven | $575,000 | |
Sold to Nicholas Craven, Stacey Craven | |||
Mar 19, 2021 | Price Decreased |
$599,000
↓ $31K
(4.9%)
|
|
Price Decreased | |||
Feb 17, 2021 | Price Decreased |
$630,000
↓ $31K
(4.7%)
|
|
Price Decreased | |||
Jan 29, 2021 | Listed | $661,000 | |
Listed |
Property Highlights
Air Conditioning
Comparables
Unit
Status
Status
Type
Beds
Baths
ft²
Price/ft²
Price/ft²
Asking Price
Listed On
Listed On
Closing Price
Sold On
Sold On
HOA + Taxes
Active
Multifamily
7
Beds
2
Baths
2,498 ft²
$270/ft²
$675,000
Jul 14, 2022
-
$1,730/mo
Past Sales
Date | Unit | Beds | Baths | Sqft | Price | Closed | Owner | Listed By |
---|---|---|---|---|---|---|---|---|
01/29/2021
|
|
6 Bed
|
-
|
2488 ft²
|
$661,000
6 Bed
-
2488 ft²
|
$575,000
-13.01%
07/22/2021
|
Tristan Trujillo
Engel & Volkers Denver
|
|
01/27/2020
|
|
5 Bed
|
3 Bath
|
2438 ft²
|
$499,000
5 Bed
3 Bath
2438 ft²
|
-
-
|
-
|
Tristan Trujillo
Engel & Volkers Denver
|
Building Info
About East Colorado Springs
Similar Homes for Sale
Nearby Rentals
$2,400 /mo
- 5 Beds
- 2 Baths
- 2,282 ft²
$2,175 /mo
- 2 Beds
- 2 Baths
- 919 ft²