1012 Iowa Avenue, Colorado Springs

$499,000

5 Beds
3 Baths
2,438 Sqft
.28 Acres
1 Garages

This is an income producing 2 unit property. One unit faces Iowa ave and the other faces Yampa st. Located on a corner lot.

5 bed 3 bath - main house - vacant, was most recently receiving $2,900/month. Has been offered $3,000/month. To be safe, cap rate has been calculated using $2,500/month

1 bed 1 bath - carriage house - occupied, $990/month

GOI - $42,880

NOI - $39,900

cap rate - 7.9%

Close to Colorado College and the Olympic Training Center.

Main house could receive $600/room if rented out to college students or olympic athletes.

Assuming $600/room

GOI - $47,880

NOI - $44,900

Cap - 8.9%

Status: Active

Metrolist Services Inc (Colorado) Logo Engel & Volkers Denver.

Essential Information
MLS® #4513277
Price$499,000
Bedrooms5
Bathrooms3.00
Full Baths3
Square Footage2,438
Acres0.28
Year Built1941
TypeResidential
Sub-TypeSingle Family Residence
StyleTraditional
StatusActive
Community Information
Address1012 Iowa Avenue
SubdivisionGrand View
CityColorado Springs
CountyEl Paso
StateCO
Zip Code80909
Amenities
ParkingDriveway, Gravel
# of Garages1
Utilities

Electricity Available, Electricity Connected, Phone Available

Interior
InteriorCarpet, Laminate, Tile
HeatingForced Air
CoolingCentral Air
FireplaceYes
# of Fireplaces2
FireplacesBasement, Living Room
StoriesOne
Appliances

Cooktop, Dryer, Dishwasher, Oven, Refrigerator, Washer

Exterior
Exterior FeaturesPrivate Yard
RoofOther
ConstructionFrame
FoundationConcrete Perimeter
School Information
DistrictColorado Springs 11
ElementaryQueen Palmer
MiddleGalileo
HighPalmer
Additional Information
Date ListedJanuary 27th, 2020
Days on Market32
ZoningR1-6
Listing Details
Metrolist Services Inc (Colorado) LogoEngel & Volkers Denver
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Listing information last updated on February 27th, 2020 at 11:30pm MST.