3640 W Colorado Avenue, Colorado Springs

Rare Opportunity, to own Multifamily & Retail!! 7-Units total, 6 apartments with one retail space. Centrally located between Old Colorado City and Manitou Springs, this Little Getaway with C-5 / HS Zoning is ideal for all kinds of cash flow. Current business operation is The Chronic Boutique a Dispensary operating in 1,000sf retail space. Also currently has 5 apartments rented through AIRBNB as The Little Getaway.

The Chronic Boutique and The Little Getaway are just 12 min west of downtown Colorado Springs. Property is to include 1,000sf curbside Retail, two duplexes and a 3-bed 2-bath managers home that has another 1 bed 1 bath rental unit attached, for a total of 7-units. Current marijuana business gets walk-ins (thanks to excellent location off W Colorado Ave. and high visibility). Current AIRBNB business gets internet reservations, as repeat/return clients from great overall internet reviews for well managed and clean property.

Owner will leaseback 1,000sf retail space at a minimum of $5,000 per month.
Owner currently lives in main home in 3bed 2bath at 1,100sf (owner will move or leaseback unit)

Situated on .31 acres, these four buildings have well maintained stucco exteriors, roofs, exterior/interior paint, plenty of parking spaces in rear, and a garden area in the back along with two large storage sheds. All interiors have been maintained and renovated over the course of ownership.

Main 1,100sf home is updated with stainless steel appliances, granite throughout, hardwood floors, walk-in shower, and jacuzzi spa bathtub upstairs. Options for a live/work arrangement, or an owner operator, could also just simply make this a 6th rental seeking $1,600 plus per month. Additionally a 7th apartment can be converted above this home for a total of 8-units as it already has the necessary mechanicals and separate entrance in place.
All information provided is deemed reliable, but is not guaranteed and should be independently verified by buyer.

Denver Realty Group.

Essential Information

MLS® #4432210

Price$1,900,000

Bathrooms0.00

Acres0.31

Year Built1942

TypeCommercial Sale

Sub-TypeRetail

StyleLow Rise

StatusActive

Community Information

Address3640 W Colorado Avenue

CityColorado Springs

CountyEl Paso

StateCO

Zip Code80904

Amenities

ParkingConcrete

# of Garages15

Utilities

Electricity Connected, Natural Gas Connected, High Speed Internet Available, Phone Connected, Sewer Connected

Interior

# of Stories2

Exterior

RoofComposition

ConstructionBlock, Frame, Concrete, Stucco

Additional Information

Date ListedAugust 5th, 2020

Days on Market336

ZoningC5 HS

Listing Details

Denver Realty Group