1321 Wood Avenue, Colorado Springs, CO 80903

Property Description

A rare opportunity awaits the discerning investor: acquire a stately, high-cash-flow asset in the heart of downtown Colorado Springs. Located on the coveted Millionaire’s Row in the historic Old North End, this magnificent property stands as a testament to turn-of-the-century elegance while delivering robust, modern-day returns. This is the turn-key investment you've been seeking, perfectly positioned for a seamless addition to any serious portfolio or a strategic close for a 1031 Exchange. This grand asset comprises a majestic Main House hosting seven units and a separate Carriage House providing three additional units, resulting in an impressive 10 unit property. With approximately 13,663 sq ft. of rentable space on a sprawling half-acre lot and dedicated parking, the property minimizes vacancy risk and maximizes tenant appeal in a high-demand market. It currently generates $12,000+ per month in income, with proven potential to reach ~$13,000. Recent exterior painting on both structures provides strong curb appeal, and while units vary in condition, they offer a clear value-add path for strategic upgrades over time to capture the full market premium. Location drives value, and this address delivers: the property is situated just two blocks north of Colorado College (CC) and tenants benefit from a truly walkable lifestyle, with easy access to the Pikes Peak Greenway Trail and the expansive Monument Valley Park, as well as quick access to downtown Colorado Springs’ vibrant restaurant and bar scene and a quarter-mile from I25 for effortless commuting. This property is not just a building; it is a piece of Colorado Springs history and a reliable income engine. Don't miss the opportunity to own a legacy property with superior cash flow in one of Colorado Springs' most desirable neighborhoods. Financials and rent rolls are available upon request to qualified buyers. Contact me today to schedule a private, discreet showing!

Listing Status:

Active

Listing Office:

Keller Williams Premier Realty : 719-445-0234

Listing Agent:

Daniel Pitrone : 216-280-3396

MLS ID:

3306167

Interior

• Laundry: Common AreaElectric Dryer HookupGas Hookup
• Basement: Full
• A/C: Ceiling Fan(s)Central Air
• Heating: ElectricForced AirNatural Gas

Construction

• Roofing: Shingle

Location

• School District: Colorado Springs 11
• County: El Paso

Lot

• Zoning: 6407202003

Utilities

• Utilities: Cable ConnectedElectricity ConnectedNatural Gas Connected
• Water: Public

This listing courtesy of Daniel Pitrone, Keller Williams Premier Realty