2631 W Pikes Peak Avenue Colorado Springs, CO $ 2,288,500
2631 W Pikes Peak Avenue
$ 2,288,500
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2631 W Pikes Peak Avenue

Colorado Springs, CO, 80904
$ 2,288,500
Bedrooms-- Baths-- Sq 6,772

Monthly Estimate*

$ 14,091

Listed by Unique Properties LLC
2631 W Pikes Peak Avenue, Colorado Springs, CO 80904 - Image 1
2631 W Pikes Peak Avenue, Colorado Springs, CO 80904 - Image 2
2631 W Pikes Peak Avenue, Colorado Springs, CO 80904 - Image 3
2631 W Pikes Peak Avenue, Colorado Springs, CO 80904 - Image 4
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2631 W Pikes Peak Avenue, Colorado Springs, CO 80904 - Image 8
2631 W Pikes Peak Avenue, Colorado Springs, CO 80904 - Image 9
2631 W Pikes Peak Avenue, Colorado Springs, CO 80904 - Image 10

Commercial Property for sale in Colorado Springs, CO

for $2,288,500. This 6,772 square foot building was built in 1948.

2631 W Pikes Peak Avenue presents a rare opportunity to acquire a 23-unit apartment building in the heart of Old Colorado City, one of the most vibrant and historic neighborhoods in Colorado Springs. The property offers an investor a prime location paired with a compelling value proposition. Unique Value Proposition: What sets this property apart is its ability to be acquired at a low basis, combined with the fact that it is entirely vacant at closing. This creates a blank slate for the next owner, offering full flexibility to execute a comprehensive renovation strategy and re-lease the units at market rents. Location Highlights • Situated in the highly desirable Old Colorado City submarket, known for its historic charm, walkability, and proximity to downtown Colorado Springs. • Surrounded by local retail, dining, and lifestyle amenities that drive strong tenant demand. • Easy access to major employment hubs, outdoor recreation, and Colorado Springs’ growing economic base. Investment Highlights • 23-Unit Multifamily Property in a supply-constrained market. • Completely Vacant – allows immediate repositioning without the challenges of in-place tenants. • Low Basis Acquisition – priced to provide significant upside through renovation. • Full Repositioning Flexibility – renovate to desired finishes and achieve market-level rents. • High-Demand Location – Old Colorado City offers strong fundamentals and tenant appeal.

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Commercial Active

Price

$ 2,288,500

Property Type

Commercial

Taxes

$ 573

Style

Low Rise (1-3)

Year Built

1948

Town/City

Colorado Springs

County/Region

El Paso

MLS | Web ID

3081598

Features
General
Sewer Public Sewer
Possession Negotiable
Roof Membrane
Zoning PDZ R-5
Garage Spaces 0
Construction Materials Stucco
Exclusions Tenant's personal property
Year Built 1948
Property Subtype Multi Family
Tax Year 2024
Current Use Multi-Family
County El Paso
Property Type Commercial Sale
Attached Garage N
Status Active
City Colorado Springs
Number Of Units Total 23
Carport Spaces 0
Listing Terms Cash Conventional
Tax Annual Amount 573
Leasable Area 6772
Structure Type Low Rise (1-3)
Standard Status Active
Occupancy Type Tenant
Cap Rate 8
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Exterior
Water Source Public
Total Parking 34
Building Area Total 6772
Road Surface Type Paved
Road Frontage Type Public
Road Responsibility Public Maintained Road
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Internal Only
Street Number 1 2631
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* Excluded Features
List By
Unique Properties Llc

Broker

(214) 616-2695

Phone

Affordability Calculator

$14,138
Per Month
100%
0%
0%
Monthly Principal & Interest
$14,091
Monthly Property Taxes
$48
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.
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Nearby
242254 Elementary School
242425 Middle School
Unknown High School High School
Pricing History
DatePricePrice ChangeDescription
5/19/2026$2,288,500 Listed Price

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2631 W Pikes Peak Avenue, Colorado Springs, CO, 80904 is a Commercial Property for sale at $2,288,500 with 6,772 sqft. 2631 W Pikes Peak Avenue was built in 1948. The property's zip code is 80904 which is in Colorado Springs, CO