2409 Pike Peak Ave Colorado Springs, CO 80909-6160
Property profile & analytics
2409 Pike Peak Ave, Colorado Springs, CO 80909-6160
- Motels
- 29,376 SF
- 1.97 lot acres
Property ID
US13-2510590
The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
Location Intelligence
Current Use by Public Records
- Urban Edge Apartments / Apartment Complex
Property Details for 2409 Pike Peak Ave
- Year built
- 1967
- Construction
- MASONRY/CONCRETE MASONRY UNITS (CMUS)
- Lot size
- 1.97 lot acres
- Zone code
- PBC
- Property type
- Motels
- APN
- 6416301004
- APU
- 6416301004
Description
This exceptional 116-unit apartment building presents a compelling value-add opportunity in the thriving Colorado Springs market. The property, encompassing 48,450 net rentable square feet across two, two-story buildings, sits on a 1.97-acre lot and includes 113 parking spaces. Built in 1967, the property underwent a complete gut renovation in 2022, bringing it up to current code and featuring Class A finishes. The unit mix includes 111 studios, one one-bedroom unit, and four two-bedroom units, offering a unique value proposition in a market with a shortage of smaller, affordable units. The current average proforma asking rent is significantly below the market average, ensuring consistent demand and occupancy. Colorado Springs boasts robust employment growth, consistently exceeding the national average for a decade, with a highly educated workforce and a strong job market. The property's location offers easy access to numerous employment opportunities and benefits from the city's high quality of life, ranking highly in national livability surveys. One-third of the units enjoy unobstructed west-facing views. This property is ideally positioned to capitalize on the increasing demand for affordable, quality housing in a desirable location, presenting a significant potential for future income growth. The fee-simple ownership provides complete control and upside potential for the new owner. The property's strong fundamentals and location make it an attractive investment for those seeking a turn-key asset with significant upside potential. A potential increase of $110,000 in top-line income is projected.
Value Estimations
based on Realmo’s proprietary methodology
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AI approach
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CAP approach
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Comparable approach
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Alternative Use
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Location Insight
- Map
- Local Demand
- City
- Colorado Springs
- County
- El Paso
- State
- Colorado
- Longitude
- -104.786
- Latitude
- 38.8317
- CBSA code
- 17820
- CBSA name
- COLORADO SPRINGS, CO METROPOLITAN STATISTICAL AREA
Property Tax & Assessments
Tax date
Tax Amount
Assessed Land Value
Assessed Improvement Value
Total Assessed Value
Applied Tax Rate
Land Market Value
Improvement Market Value
Total Market Value
2023
$10,881
$160,410
$46,560
$206,970
-
$574,947
$166,884
$741,831
