2201 W Pikes Peak Ave, Colorado Springs, CO 80904

Property Description

County: El Paso Year Built: 1898 Buildings | Stories: 1 | 1 Total Units: 2 Construction: Wood Siding Roof Type: Pitched Gross Building SF: 1,925 Lot SF: 3,480 Parking: Off-Street/Street Heating: Electric Baseboard Zoning: R-2 Gas/Electric: Individual Water/Sewer: Master The Pikes Peak Duplex offering presents a prime multifamily investment opportunity in the heart of historic Old Colorado City, Colorado Springs. This charming side-by-side duplex delivers two renovated units with strong rental appeal, combining substantial recent capital improvements and remaining cosmetic value-add upside in one of the city's most vibrant, walkable, and desirable neighborhoods. Just minutes from Garden of the Gods, Cheyenne Mountain Zoo, The Broadmoor, and Downtown CO Springs, residents enjoy immediate access to premier lifestyle amenities, outdoor recreation, and major employment centers. Recent upgrades include LVP flooring throughout, PEX plumbing conversion, and complete electrical panel modernization to current code standards. Units feature kitchen updates with backsplash, appliances, cabinets, and sink, plus bathroom renovations with tile and vanity. This stabilized duplex offers investors a combination of location-driven demand, significant capital improvements, and targeted value-add upside through cosmetic enhancements. With strong in-place performance and long-term appreciation potential in a premium neighborhood, it represents a compelling entry point into the Colorado Springs multifamily market. HIGHLIGHTS - LVP flooring replacement throughout - $30K worth of interior improvements - Plumbing line replacement to PEX piping - Electric breaker panel and electric main line upgrade to modern code standards - Excellent location in the heart of Old Colorado City and 10 minutes west of Downtown CO Springs - Excellent walkability to unique/vibrant retail shops, restaurants, and entertainment