Renovated Side-by-Side
2201 W Pikes Peak Avenue Colorado Springs, CO 80904
2201 W Pikes Peak Avenue, Colorado Springs, CO, 80904
$485,000
For Sale
$485,000
Side-by-side duplex with two updated units, wood siding, electric baseboard heat, and off-street or street parking.
Property Size1,226 SF
Lot Size0.08 Acres
Price / SF$395.60
Days on Market112
Property Features for 2201 W Pikes Peak Avenue
General Information
- Standard status
- Active
- Size
- 1,226 SF
- Lot size
- 0.08 Acres
- Property subtype
- Multi Family
Building Details
- Year Built
- 1898
Listing Agency
Kaufman Hagan
(303) 859-0682
Listed by
Drew Madayag · License #100109778
(303) 859-0682
Source
Exitrealty
Added: Mar 28 Checked: Jul 17 at 3:47 am
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Kaufman Hagan
Investment Insights
Based on property information with market context.
This side-by-side duplex includes 2 total units in a 1-story wood-siding building with a pitched roof. The property is serviced by electric baseboard heating, with gas/electric utilities listed as individual, and water/sewer listed as master. Recent improvements noted include LVP flooring replacement throughout, plumbing line replacement to PEX piping, and electrical breaker panel and electric main line upgrades to modern code standards, along with kitchen and bathroom updates in both units.
The address is 2201 W Pikes Peak Avenue in Colorado Springs. The remarks note proximity to Garden of the Gods, Cheyenne Mountain Zoo, The Broadmoor, and Downtown CO Springs, and describe the area as walkable to local retail, restaurants, and entertainment. Zoning is listed as R-2.
The address is 2201 W Pikes Peak Avenue in Colorado Springs. The remarks note proximity to Garden of the Gods, Cheyenne Mountain Zoo, The Broadmoor, and Downtown CO Springs, and describe the area as walkable to local retail, restaurants, and entertainment. Zoning is listed as R-2.
Key Highlights
- Side‑by‑side duplex built in 1898 with wood siding and pitched roof (1,925 gross SF), featuring 2 total units
- Two renovated units with LVP flooring replacement throughout and $30K worth of interior improvements
- Plumbing line replacement with PEX piping conversion
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $24.3k | $19.80 |
| − Vacancy | −$1.3k | −$1.09 |
| EGI | $22.9k | $18.71 |
| − OpEx | −$6.9k | −$5.61 |
| NOI | $16.1k | $13.10 |
1,226 SF · lease $19.80/SF/yr · vacancy 5.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$229.4K
$200.7K – $267.6K
NOI $16,058 @ 7.0% cap · market cap 3.31%
Second Best
Apartment 5plus
$212.6K
$186.0K – $248.0K
NOI $14,881 @ 7.0% cap · market cap 3.07%
Theoretical Best
Specialty Retail
$242.1K
$211.9K – $282.5K
NOI $16,948 @ 7.0% cap · market cap 3.49%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Duplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Duplex - Side-by-side duplex with two updated units, wood siding, electric baseboard heat, and off-street or street parking.
Where is this duplex located?
The property is located at 2201 W Pikes Peak Avenue Colorado Springs, CO.
What is the asking price?
The asking price for this property is $485,000.
What are key features of this property?
This property features: Side‑by‑side duplex built in 1898 with wood siding and pitched roof (1,925 gross SF), featuring 2 total units; Two renovated units with LVP flooring replacement throughout and $30K worth of interior improvements; Plumbing line replacement with PEX piping conversion
