1214 - 1216 N Wahsatch AVE Active Save Request In-Person Tour Request Virtual Tour
Colorado Springs,CO 80903
Key Details
Property Type Single Family Home
Sub Type Single Family Residence
Listing Status Active
Purchase Type For Sale
Square Footage 2,798 sqft
Price per Sqft $267
Subdivision Hallowells
MLS Listing ID 2995847
Bedrooms 4
Full Baths 2
Three Quarter Bath 1
HOA Y/N No
Abv Grd Liv Area 2,798
Year Built 1910
Annual Tax Amount $1,972
Tax Year 2024
Lot Size 9,500 Sqft
Acres 0.22
Property Sub-Type Single Family Residence
Source recolorado
Property Description
TWO HOMES INCLUDED! LIVE IN ONE - RENT THE OTHER OR RENT BOTH FOR A STEADY INCOME! Incredible investor or owner-occupant opportunity in the heart of Colorado Springs Old North End. This legally zoned R-2 single family home with cottage features a fully rented main house leased at $3,000/month through June 2027, and a detached 1 bedroom cottage currently rented at $1,740/month through September 2025 or earlier. When the cottage lease ends, the new owner can either continue renting to college students at premium rates—or live in the cottage and let the front unit's $3,000/month rent cover a significant portion of the mortgage. With separate gas, electric, and water meters for each unit, plus tenant-paid utilities and a landlord-billed trash arrangement, this property offers efficient, predictable cash flow. Recent upgrades include new appliances and forced air heating + central A/C in the main house. A detached three-car garage provides alley access and offers future income potential as premium parking or storage rentals. Both units share access to basement laundry and storage. Located just blocks from Colorado College and downtown, this property benefits from steady year-round rental demand and strong tenant retention. With gross annual rents of $56,880, separately metered utilities, and low property taxes (~$1,900/year), this turnkey asset is ideal for long-term hold, 1031 exchange, or live-in investment. Zoned R-2 in a historic district (no HOA), this is a rare chance to own a flexible, high-performing asset in one of Colorado Springs most desirable neighborhoods.
Location
State CO
County El Paso
Zoning R-2
Rooms
Basement Exterior Entry,Interior Entry,Partial
Main Level Bedrooms 3
Interior
Interior Features Eat-in Kitchen,Open Floorplan
Heating Forced Air
Cooling Central Air,Other
Flooring Wood
Fireplaces Number 1
Fireplaces Type Family Room
Fireplace Y
Appliance Dishwasher,Disposal,Oven,Refrigerator
Laundry In Unit
Exterior
Exterior Feature Garden,Private Yard
Garage Spaces 3.0
Utilities Available Cable Available,Electricity Connected,Internet Access (Wired),Natural Gas Connected
Roof Type Composition
Total Parking Spaces 6
Garage No
Building
Lot Description Historical District,Level,Many Trees,Near Public Transit,Sprinklers In Front
Sewer Public Sewer
Water Public
Level or Stories One
Structure Type Frame
Schools
Elementary Schools Steele
Middle Schools North
High Schools Palmer
School District Colorado Springs 11
Others
Senior Community No
Ownership Individual
Acceptable Financing 1031 Exchange,Cash,Conventional,FHA,Jumbo,VA Loan
Listing Terms 1031 Exchange,Cash,Conventional,FHA,Jumbo,VA Loan
Special Listing Condition None