2631 W Pikes Peak Ave

Nestled in scenic Colorado Springs, the property sits within close proximity to a myriad of attractions and amenities that make it an ideal location for multifamily investment. Residents can enjoy the beautiful surroundings with nearby access to Pikes Peak, Garden of the Gods, and Red Rock Canyon Open Space for outdoor adventures. The area also boasts a thriving cultural scene with the Colorado Springs Fine Arts Center, as well as convenient shopping and dining options at Old Colorado City. With its blend of natural beauty and urban conveniences, the location offers a desirable setting for low-rise/garden multifamily living.2631 W Pikes Peak Avenue presents a rare opportunity to acquire a 23-unit apartment building in the heart of Old Colorado City, one of the most vibrant and historic neighborhoods in Colorado Springs. The property offers an investor a prime location paired with a compelling value proposition. Unique Value Proposition: What sets this property apart is its ability to be acquired at a low basis, combined with the fact that it is entirely vacant at closing. This creates a blank slate for the next owner, offering full flexibility to execute a comprehensive renovation strategy and re-lease the units at market rents. Location Highlights • Situated in the highly desirable Old Colorado City submarket, known for its historic charm, walkability, and proximity to downtown Colorado Springs. • Surrounded by local retail, dining, and lifestyle amenities that drive strong tenant demand. • Easy access to major employment hubs, outdoor recreation, and Colorado Springs’ growing economic base. Investment Highlights • 23-Unit Multifamily Property in a supply-constrained market. • Completely Vacant – allows immediate repositioning without the challenges of in-place tenants. • Low Basis Acquisition – priced to provide significant upside through renovation. • Full Repositioning Flexibility – renovate to desired finishes and achieve market-level rents. • High-Demand Location – Old Colorado City offers strong fundamentals and tenant appeal.