Shovel Ready Apartment
For Sale
$399,000
703 E Costilla St, Colorado Springs, CO 80903
Approved apartment complex in Opportunity Zone with mountain views.
Property SizeContact for details
Days on Market95
Property Features for 703 E Costilla St
General Information
Standard status
Active
Property subtype
Land
Taxes and HOA fees
Annual Taxes
$3,155
Listing Agency:
BETTER HOMES & GARDENS REAL ESTATE - KENNEY & CO.
(719) 308-6055
Listed By:
Daniel Jones · License #040023867
(719) 308-6055
Source:
Elliman
Added: May 20
Changed: Aug 8
Last Checked: Jul 16 at 9:19AM
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 BETTER HOMES & GARDENS REAL ESTATE - KENNEY & CO.
Investment Insights
Based on property information with market context.
Located on a corner lot in the Hillside community of downtown Colorado Springs, this shovel-ready, urban infill apartment complex offers an opportunity to build 10 luxury, Class A units. The property boasts mountain views and proximity to downtown amenities. The property's Opportunity Zone tax benefits allow for zero capital gains taxes on the sale after building and owning the apartments for ten years. The project is ready for builder permits, with all drawings and site variances approved and stamped by the city, and tap fees already paid. The units will feature 9' interior ceilings, 8 tuck-under covered parking spots, 8 storage units, 8 bike storage units, a dedicated dog wash, and electric vehicle charging stations. The location has a bike score of 67, indicating it is bikeable, a walk score of 76, indicating it is very walkable, and a transit score of 34, indicating some transit options are available. As Hillside's future anchor point for urban living, this property presents a unique investment opportunity.
Key Highlights
- Opportunity Zone: Zero capital gains taxes on sale after 10 years of ownership.
- Shovel‑ready: Builder permits ready, drawings and site variances approved, tap fees paid.
- 10 Luxury, Class A units with mountain views.**
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,622
Businesses Nearby
Explore this area
Business Placement
Demographics for 80903, CO
15,944
Population
8,340
Households
1.9
Avg Household Size
34
Median Age
39%
College-Educated
95%
High-School Grad
5.4 sq mi
ZIP Area
2,953
Density / Sq Mi
$59,292
Median Household Income
$35,251
Median Earnings
$1,221
Median Rent
$420,000
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential land & home lot - Approved apartment complex in Opportunity Zone with mountain views.
Where is this residential land & home lot located?
The property is located at 703 E Costilla St Colorado Springs, CO.
What is the asking price?
The asking price for this property is $399,000.
What are key features of this property?
This property features: Opportunity Zone: Zero capital gains taxes on sale after 10 years of ownership.; Shovel‑ready: **Builder permits ready**, drawings and site variances approved, tap fees paid.; 10 Luxury, Class A units with mountain views.**
