NOT LISTED FOR SALE

Estimated Value: $660,091 - $739,000

4 Beds
4 Baths
2,915 Sq Ft
$244/Sq Ft Est. Value

Last Sold July 07, 2023

Last sale price $730,000 $250 Per Sq Ft

Est. 3% decrease in value since last sale

Current estimated payment $3,907/month

38 Days on Market

Highlights

  • Family Room with Fireplace
  • Granite Countertops
  • Front Porch
  • Wood Flooring
  • No HOA
  • 1-minute walk to John "Prairie Dog" O'Byrne Park

About This Home

As of July 2023

Incredible investment opportunity located in the heart of downtown Colorado! This beautifully updated duplex/triplex offers not one, not two, but three income-generating units, making it the perfect investment for savvy investors.
The main unit (Unit 3) features two spacious bedrooms, two baths, in-unit laundry, and a it’s own entrance with one garage space. The second unit (Unit 2) is a one-bedroom, one-bath space with in-unit laundry, its own entrance, and has natural light through out with all the windows. This unit includes furniture. Lastly, the third unit (Unit 1) is a loft with a full bathroom and kitchenette, recently updated by the seller.
This investment property is truly turnkey, with all kitchens boasting solid surfaces and appliances. The seller has recently replaced the windows, flooring, HVAC systems, hot water heaters, and electric in the new loft. You can be confident that this property is ready to generate income for you from day one.
The location of this income property is unbeatable, within walking distance to downtown Colorado Springs' best restaurants, coffee shops, Colorado College campus, and parks. This is an area in high demand, with a steady stream of renters looking for modern, updated units in this sought-after location.
The yard has been redone, and the fence replaced, providing added value to the property. This is a fantastic investment opportunity for anyone looking for a low-maintenance, high-yield property in downtown Colorado. Don't miss out on this incredible opportunity - schedule a showing today!

Last Agent to Sell the Property

Michelle Ochoa

NAV Real Estate Brokerage Email: michelle@morealtyhomes.com,512-669-0627 License #100099666 Listed on: 04/23/2023

Last Buyer's Agent

Ryan Thomson

Keller Williams Advantage Realty LLC License #100092341

Keller Williams Advantage Realty LLC

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $1,865

Year Built

  • Built in 1890 | Remodeled

Lot Details

  • 4,758 Sq Ft Lot
  • Property is Fully Fenced

Home Design

  • Triplex
  • Tri-Level Property
  • Frame Construction
  • Composition Roof

Interior Spaces

  • Ceiling Fan
  • Family Room with Fireplace
  • Wood Flooring
  • Partial Basement

Kitchen

  • Self-Cleaning Oven
  • Dishwasher
  • Granite Countertops
  • Disposal

Bedrooms and Bathrooms

  • 4 Bedrooms
  • Studio bedroom
  • 4 Bathrooms

Laundry

  • Laundry in unit
  • Dryer
  • Washer

Parking

  • 5 Parking Spaces
  • 5 Carport Spaces
  • Gravel Driveway

Schools

  • Columbia Elementary School
  • North Middle School
  • Palmer High School

Additional Features

  • Front Porch
  • Forced Air Heating System

Community Details

  • No Home Owners Association
  • Colburns Subdivision

Listing and Financial Details

  • Tenant pays for electricity, internet, telephone
  • The owner pays for gas, trash collection, water
  • Assessor Parcel Number 64181-10-003

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$1,865

Year Built

Built in 1890 | Remodeled

Lot Details

0

Listing Details

  • Property Type: Residential Income
  • Property Sub Type: Triplex
  • Structure Type: Triplex
  • Levels: Tri-Level
  • Year Built: 1890
  • Above Grade Finished Sq Ft: 2523
  • Below Grade Sq Ft: 40
  • Current Use: Live/Work
  • Exclusions: n/a
  • Living Area: 2915
  • Property Condition: Updated/Remodeled
  • Directions: from I-25, going south, exit 142 for Bijou Street toward downtown, continue straight on sierra madre st, turn left on corona st, turn left on Bijou St
  • SubdivisionName: Colburns
  • Ownership: Individual
  • Property Attached Yn: Yes
  • REC_RVSpaces: 0
  • Ratio Close Price By Original Li: 0.83908
  • Attribution Contact: michelle@morealtyhomes.com,512-669-0627
  • Special Features: None

Interior Features

  • Appliances: Dishwasher, Disposal, Dryer, Refrigerator, Self Cleaning Oven, Washer
  • Interior Amenities: Ceiling Fan(s), Granite Counters
  • Flooring: Wood
  • Fireplace Features: Family Room
  • Basement: Partial
  • Basement: Yes
  • Total Bedrooms: 4
  • Below Grade Sq Ft: 392

Exterior Features

  • Roof: Composition
  • Construction Materials: Frame
  • Patio and Porch Features: Front Porch

Garage/Parking

  • Parking Features: Unpaved, Gravel
  • Attached Garage: No
  • Carport Spaces: 5
  • Total Parking Spaces: 5
  • REC_ParkingCount: 1
  • Unit Numberof Parking Per Unit: 1
  • Unit Numberof Parking Per Unit: 2
  • Unit Numberof Parking Per Unit: 1

Utilities

  • Sewer: Public Sewer
  • Cooling: Other
  • Heating: Forced Air
  • Water Source: Public
  • Laundry Features: In Unit

Condo/Co-op/Association

  • Association: No
  • Senior Community: No

Association/Amenities

  • REC_AssociationFee2Annual: 0.00
  • REC_AssociationFee3Annual: 0.00
  • REC_AssociationFeeAnnual: 0.00
  • REC_AssociationFeeTotalAnnual: 0.00
  • REC_MultipleAssociationsYN: 0

Schools

  • Middle Or Junior School: North

Lot Info

  • Parcel Number: 64181-10-003
  • Lot Size Acres: 0.11
  • Fencing: Full
  • Building Area Total: 2955
  • Lot Size Sq Ft: 4758

Rental Info

  • Owner Pays: Gas, Trash Collection, Water
  • Tenant Pays: Electricity, Internet, Telephone

Tax Info

  • Tax Year: 2022
  • Tax Annual Amount: 1865

MLS Schools

  • Elementary School: Columbia
  • High School: Palmer

Ownership History

Date Name Owned For Owner Type

Purchase Details

Closed on
Oct 11, 2018
Sold by
Melendez Sands Joshua J and Ward Morgan
Bought by
Solven Jeramiah Andrew
Current Estimated Value
$711,364

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$499,372
Outstanding Balance
$435,482
Interest Rate
4.5%
Mortgage Type
VA
Estimated Equity
$275,882

Purchase Details

Closed on
Mar 3, 2016
Sold by
Specter Inc
Bought by
Melendez Sands Joshua J and Ward Morgan

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$324,022
Interest Rate
3.81%
Mortgage Type
FHA

Purchase Details

Closed on
Jul 17, 2015
Sold by
Integrity Bank & Trust
Bought by
Specter Inc

Purchase Details

Closed on
Mar 3, 2015
Sold by
Woodland Escrow Inc
Bought by
Integrity Bank & Trust and John C Dodson Ira

Purchase Details

Closed on
Nov 17, 2014
Sold by
Aber Charlotte R
Bought by
Escrow Woodland

Purchase Details

Closed on
Jun 18, 1969
Bought by
Ward Morgan
Source: Public Records

Range of Values:

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Average Value
Not Available
List Price
Sold Price
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Home Values in the Area

Source: Public Records

Average Home Value in this Area





Source: Public Records

Purchase History

Date Buyer Sale Price Title Company
Solven Jeramiah Andrew $495,000 Heritage Title Co
Melendez Sands Joshua J $330,000 Heritage Title
Specter Inc $160,000 Heritage Title
Integrity Bank & Trust $120,000 Heritage Title
Escrow Woodland -- None Available
Ward Morgan -- --
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Solven Jeramiah Andrew $499,372
Previous Owner Melendez Sands Joshua J $324,022
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft Prior Sale
07/14/2023 07/14/23 Off Market $730,000 -- --
07/07/2023 07/07/23 Sold $730,000 0.0% $250 / Sq Ft
07/07/2023 07/07/23 Sold $730,000 -14.6% $289 / Sq Ft View Prior Sale
06/01/2023 06/01/23 Pending -- -- --
05/31/2023 05/31/23 Pending -- -- --
05/11/2023 05/11/23 Price Changed $855,000 0.0% $293 / Sq Ft
05/09/2023 05/09/23 Price Changed $855,000 -1.7% $339 / Sq Ft
04/23/2023 04/23/23 For Sale $870,000 0.0% $298 / Sq Ft
04/05/2023 04/05/23 For Sale $870,000 -- $345 / Sq Ft
Source: REcolorado®

Tax History Compared to Growth

Source: Public Records

Tax History

Year Tax Paid Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. Land Improvement
2025 $1,616 $35,010 -- --
2024 $1,500 $33,500 $3,900 $29,600
2022 $1,865 $33,320 $3,540 $29,780
2021 $2,068 $35,040 $3,720 $31,320
2020 $2,378 $35,040 $2,860 $32,180
2019 $2,086 $30,900 $2,860 $28,040
2018 $1,718 $23,420 $2,160 $21,260
2017 $1,628 $23,420 $2,160 $21,260
2016 $781 $13,470 $1,990 $11,480
2015 $778 $13,470 $1,990 $11,480
2014 $382 $12,700 $1,910 $10,790
Source: Public Records

Agents Affiliated with this Home

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Map

Source: REcolorado®

MLS Number: 3690635

REcolorado®

APN: 64181-10-003