21 Polk St Colorado Springs, CO 80907

Property Details for 21 Polk St

Year built

1904

Property size

1,795 SF

Property type

Residential income homes

APN

6331317016

Description

This captivating 1-unit, 2-story Victorian apartment building at 21 W Polk St, Colorado Springs, CO 80907 presents a unique investment opportunity. Built in 1904, this 1,795 square foot property sits on a 7,125 square foot lot and boasts 6 parking spaces. Currently owner-occupied, it offers immediate income potential as a long-term rental, short-term rental, or Airbnb. The property features three bedrooms and two bathrooms, showcasing original restored wood floors, stained-glass windows, a cast-iron fireplace, a remodeled kitchen with a breakfast bar, a spacious dining room with deck access, and a private backyard shaded by mature trees. Upstairs, three spacious bedrooms with vaulted ceilings and a private balcony add to the charm. The full bath includes a cast-iron clawfoot tub. Its prime location near downtown Colorado Springs, I-25, hospitals, schools, and public transportation makes it highly desirable. The property is zoned R-2 and has a 100% occupancy rate (as of July 30, 2024). The asking price is $549,000, with a 5.46% cap rate and a Net Operating Income (NOI) of $30,000. This exceptional property offers a blend of historical character and modern convenience, making it an ideal investment for both owner-users and investors seeking a high return. The property's proximity to Penrose Hospital makes it particularly attractive for medical professionals.