3640 W Colorado Avenue, Colorado Springs

$1,900,000

0 Beds
0 Baths
.31 Acres
15 Garages

Rare Opportunity, to own Multifamily & Retail!! 7-Units total, 6 apartments with one retail space. Centrally located between Old Colorado City and Manitou Springs, this Little Getaway with C-5 / HS Zoning is ideal for all kinds of cash flow. Current business operation is The Chronic Boutique a Dispensary operating in 1,000sf retail space. Also currently has 5 apartments rented through AIRBNB as The Little Getaway.

The Chronic Boutique and The Little Getaway are just 12 min west of downtown Colorado Springs. Property is to include 1,000sf curbside Retail, two duplexes and a 3-bed 2-bath managers home that has another 1 bed 1 bath rental unit attached, for a total of 7-units. Current marijuana business gets walk-ins (thanks to excellent location off W Colorado Ave. and high visibility). Current AIRBNB business gets internet reservations, as repeat/return clients from great overall internet reviews for well managed and clean property.

Owner will leaseback 1,000sf retail space at a minimum of $5,000 per month.
Owner currently lives in main home in 3bed 2bath at 1,100sf (owner will move or leaseback unit)

Situated on .31 acres, these four buildings have well maintained stucco exteriors, roofs, exterior/interior paint, plenty of parking spaces in rear, and a garden area in the back along with two large storage sheds. All interiors have been maintained and renovated over the course of ownership.

Main 1,100sf home is updated with stainless steel appliances, granite throughout, hardwood floors, walk-in shower, and jacuzzi spa bathtub upstairs. Options for a live/work arrangement, or an owner operator, could also just simply make this a 6th rental seeking $1,600 plus per month. Additionally a 7th apartment can be converted above this home for a total of 8-units as it already has the necessary mechanicals and separate entrance in place.
All information provided is deemed reliable, but is not guaranteed and should be independently verified by buyer.

Essential Information
MLS® #4432210
Price$1,900,000
Bathrooms0.00
Acres0.31
Year Built1942
TypeCommercial
Sub-TypeCommercial
StyleLow Rise
StatusActive
Community Information
Address3640 W Colorado Avenue
CityColorado Springs
CountyEl Paso
StateCO
Zip Code80904
Utilities

Electricity Connected, Natural Gas Connected, High Speed Internet Available, Phone Connected, Sewer Connected

Features

Corner Lot, Near Public Transit

Interior
# of Stories2
Exterior
Lot DescriptionCornerLot, NearPublicTransit
RoofComposition
ConstructionBlock, Frame, Concrete, Stucco
Additional Information
Date ListedAugust 5th, 2020
Days on Market339
ZoningC5 HS
Parking Spaces15
ParkingConcrete
# of Garages15
Listing Details
OfficeDenver Realty Group
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Listing information last updated on January 25th, 2021 at 6:46am MST.