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Turnkey Income Property | Duplex | R-4 Zoning | Development Opportunity Exceptional investment opportunity in the rapidly growing Knob Hill area of Colorado Springs. This income-producing duplex offers immediate rental income, flexible leasing options, and significant future development potential on an R-4 zoned lot. The property consists of two separate, fully furnished residential units that are well-suited for executive housing, corporate rentals, traveling professionals, military personnel, medical professionals, relocation clients, or traditional long-term tenants. The front residence is a spacious 2-bedroom, 1-bath home featuring updated finishes, a functional floor plan, dedicated workspace, and inviting outdoor living areas. The rear residence is a private 1-bedroom, 1-bath unit offering comfortable accommodations and independent living space. Located in a highly accessible central Colorado Springs location, the property is minutes from Downtown Colorado Springs, Memorial Hospital, the Olympic & Paralympic Training Center, major military installations, shopping, dining, and employment centers. The area's strong demand for furnished and executive housing creates multiple income strategies for investors and owner-operators alike. The true value-add opportunity lies in the expansive R-4 zoned lot. The rear portion of the property provides potential for additional residential development, allowing investors to explore increased density and future income growth opportunities. Buyers should verify zoning, development standards, utility capacity, and permitted uses with the City of Colorado Springs. Whether you're seeking a turnkey furnished rental investment, a multifamily asset with stable income potential, or a development opportunity with long-term upside, this property offers flexibility and multiple avenues for value creation.
| DAYS ON MARKET | 88 | LAST UPDATED | 6/28/2026 |
|---|---|---|---|
| YEAR BUILT | 1937 | COMMUNITY | Knob Hill |
| COUNTY | El Paso | STATUS | Active |
| PROPERTY TYPE(S) | Multi Family |
| PRICE HISTORY | |
| Prior to Jun 13, '26 | $435,000 |
|---|---|
| Jun 13, '26 - Jun 22, '26 | $420,000 |
| Jun 22, '26 - Jun 25, '26 | $400,000 |
| Jun 25, '26 - Jun 28, '26 | $420,000 |
| Jun 28, '26 - Today | $385,000 |
| ADDITIONAL DETAILS | |
| AIR | Wall Unit(s) |
|---|---|
| AIR CONDITIONING | Yes |
| APPLIANCES | Dishwasher, Dryer, Microwave, Range, Refrigerator, Vented Exhaust Fan, Washer |
| AREA | Knob Hill |
| BASEMENT | Partial, Yes |
| EXTERIOR | Gas Grill |
| HEAT | Baseboard, Forced Air |
| LOT | 7501 sq ft |
| TAXES | 688.24 |
| UTILITIES | Cable Connected, Electricity Connected, Natural Gas Connected, Natural Gas Available |
| WATER | Public |
MORTGAGE CALCULATOR
TOTAL MONTHLY PAYMENT
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Listing provided by: VARA: The Real Estate Collective, 7194531400
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