2201 W Pikes Peak Avenue
Colorado Springs, CO, 80904 $ 495,000
Bedrooms5 Baths2.0 Sq 1,226 Monthly Estimate*
$ 3,048
for $495,000 with 5 bedrooms and 2 full baths. This 1,226 square foot home was built in 1898 on a lot size of 0.08.
County: El Paso Year Built: 1898 Buildings | Stories: 1 | 1 Total Units: 2 Construction: Wood Siding Roof Type: Pitched Gross Building SF: 1,925 Lot SF: 3,480 Parking: Off-Street/Street Heating: Electric Baseboard Zoning: R-2 Gas/Electric: Individual Water/Sewer: Master The Pikes Peak Duplex offering presents a prime multifamily investment opportunity in the heart of historic Old Colorado City, Colorado Springs. This charming side-by-side duplex delivers two renovated units with strong rental appeal, combining substantial recent capital improvements and remaining cosmetic value-add upside in one of the city’s most vibrant, walkable, and desirable neighborhoods. Just minutes from Garden of the Gods, Cheyenne Mountain Zoo, The Broadmoor, and Downtown CO Springs, residents enjoy immediate access to premier lifestyle amenities, outdoor recreation, and major employment centers. Recent upgrades include LVP flooring throughout, PEX plumbing conversion, and complete electrical panel modernization to current code standards. Units feature kitchen updates with backsplash, appliances, cabinets, and sink, plus bathroom renovations with tile and vanity. This stabilized duplex offers investors a combination of location-driven demand, significant capital improvements, and targeted value-add upside through cosmetic enhancements. With strong in-place performance and long-term appreciation potential in a premium neighborhood, it represents a compelling entry point into the Colorado Springs multifamily market. HIGHLIGHTS - LVP flooring replacement throughout - $30K worth of interior improvements - Plumbing line replacement to PEX piping - Electric breaker panel and electric main line upgrade to modern code standards - Excellent location in the heart of Old Colorado City and 10 minutes west of Downtown CO Springs - Excellent walkability to unique/vibrant retail shops, restaurants, and entertainment
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FeaturesGeneralSewer Public Sewer
Heating Baseboard Electric
Cooling Other
Roof Unknown
Zoning R-2
Garage Spaces 0
Construction Materials Frame Wood Siding
Exclusions Any and all private property.
Year Built 1898
Levels One
Property Subtype Duplex
Tax Year 2024
Ownership Individual
Gross Income 33973
County El Paso
Operating Expense 9192
Property Type Residential Income
HOA N
Attached Garage N
Subdivision Name Pleasant Valley
Status Active
High School Coronado
City Colorado Springs
Senior Community Y/N N
High School District Colorado Springs 11
Lot Size Units Square Feet
Lot Size Square Feet 3480
Carport Spaces 0
Listing Terms Cash Conventional
Elementary School West
Tax Annual Amount 1227
Middle/Junior High School West
Structure Type Duplex
Standard Status Active
Middle/Junior School District Colorado Springs 11
Elementary School District Colorado Springs 11
Cap Rate 5.01
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ExteriorTotal Parking 6
Lot Size Area 3480
Building Area Total 1226
Lot Size Acres 0.08
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InteriorCommon Walls 1 Common Wall 2+ Common Walls
Basement (Y/N) N
Above Grade Finished Area 1226
Total Bedrooms 5
Total Baths 2
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* Excluded FeaturesAffordability Calculator
- Monthly Principal & Interest
- $3,048
- Monthly Property Taxes
- $102
- Monthly Home Insurance
- --
Default based on a 30-year fixed rate of 6.25% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.
Learn more about how to save NearbyMulti-family listings in Colorado Springs, CO
Average List Price $740,728
Percent of Sale Price 50%
About Colorado Springs, CO 461,521 Population
27% Since 2002
$ 57,575 Median Income
36.95 Median Age
30% Households with Children
Trends Information provided by ATTOM Data Solutions.
3615233 Elementary School
1730956 Middle School
Coronado High School High School
Pricing History| Date | Price | Price Change | Description |
|---|
| 3/7/2026 | $495,000 | | Listed Price |