This is a wonderful income property that will be hitting the market
on Friday 1/29/2021 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
@$2,300/monthCottage house: 1 bd 1 ba @$1,100/month This property
is offered with a 6% CAP rate @630k! 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 4
homes/townhomes on those lots. 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.This property truly is turn-key and yields amazing results.
There was a contract on the house but has been terminated due to
personal reasons on the buyer's end. They really wanted the
property but were not able to follow through on the
purchase.DISCLOSURE: Legally, this is not considered a Duplex. This
is 2 homes, sitting on 3 lots.
The manager has listed the unit size as 3138 square feet.
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Room By Room Floorplans and Photos
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