OFF MARKET
1012 Iowa Avenue
Colorado Springs, CO 80909
Central Colorado Springs
6 Beds
4 Baths
2,488 sqft (on 0.28 acres)
- 6 Beds
- 4 Baths
- 2,488 sqft (on 0.28 acres)
6 Beds
4 Baths
2,488 sqft
(on 0.28 acres)
Homes for Sale Near 1012 Iowa Avenue
Skip to last item
TRADEWIND REAL ESTATE LLC, MLS#8377134- 0.27 ACRESBetter Homes & Gardens Real Estate - Kenney & Co
See more homes for sale inColorado SpringsTake a look
Skip to first item
Local Information
© Google
-- mins to
Commute Destination
Description
This property is no longer available to rent or to buy. This description is from May 09, 2023
This is a wonderful income property!
Located in Colorado Springs near old downtown.
Two units sitting on 3 lots! The potential in this property is AMAZING!
Currently, both units are rented out
Main house: 5bd 3 ba VACANT
Cottage house: 1 bd 1 ba @$1,100/month
This property is offered with a 6.34% CAP rate @599k! THAT'S AN AMAZING INCOME PROPERTY & HARD TO FIND THESE DAYS
Both units were completely renovated a little over 2 years ago. EVERYTHING in them is new. From floors, appliances, paint to the water heater, HVAC, and roof.
Do not let yourself or your clients miss out on a wonderful investment property like this.
After recent discussions with the city, we have discovered that 1012 Iowa ave (main house) and 2014 e yampa (cottage house) both sit on the property lines for 3 lots. If wanted, a new owner could simply apply with the city to properly divide those lots individually. Once done, the owner could build 3 homes/townhomes on those lots. NOTE: The seller is not pricing the property based on whether this ^ actually happens or not. It is priced purely on income.
The way it currently sits with the two units, it is producing $3,400/month income and tenants pay their own utilities. Since the property was so recently updated, there have barely been any maintenance costs to the owner each year. The total annual net income is about $39,000.
We do not have pictures of inside the cottage at this time but it has been remodeled to the exact same design as the main house. Picture #2 shows the west side of the main house and the cottage house. Unfortunately, that is the only picture we have that shows the cottage.
No showings on 2014 Yampa (cottage) until under contract.
DISCLOSURE: Legally, this is not considered a Duplex. This is 2 homes, sitting on 3 lots.
Located in Colorado Springs near old downtown.
Two units sitting on 3 lots! The potential in this property is AMAZING!
Currently, both units are rented out
Main house: 5bd 3 ba VACANT
Cottage house: 1 bd 1 ba @$1,100/month
This property is offered with a 6.34% CAP rate @599k! THAT'S AN AMAZING INCOME PROPERTY & HARD TO FIND THESE DAYS
Both units were completely renovated a little over 2 years ago. EVERYTHING in them is new. From floors, appliances, paint to the water heater, HVAC, and roof.
Do not let yourself or your clients miss out on a wonderful investment property like this.
After recent discussions with the city, we have discovered that 1012 Iowa ave (main house) and 2014 e yampa (cottage house) both sit on the property lines for 3 lots. If wanted, a new owner could simply apply with the city to properly divide those lots individually. Once done, the owner could build 3 homes/townhomes on those lots. NOTE: The seller is not pricing the property based on whether this ^ actually happens or not. It is priced purely on income.
The way it currently sits with the two units, it is producing $3,400/month income and tenants pay their own utilities. Since the property was so recently updated, there have barely been any maintenance costs to the owner each year. The total annual net income is about $39,000.
We do not have pictures of inside the cottage at this time but it has been remodeled to the exact same design as the main house. Picture #2 shows the west side of the main house and the cottage house. Unfortunately, that is the only picture we have that shows the cottage.
No showings on 2014 Yampa (cottage) until under contract.
DISCLOSURE: Legally, this is not considered a Duplex. This is 2 homes, sitting on 3 lots.
Home Highlights
Parking
1 Car Garage
Outdoor
No Info
A/C
Heating & Cooling
HOA
None
Price/Sqft
No Info
Listed
180+ days ago
Home Details for 1012 Iowa Avenue
Interior Features |
|---|
Interior Details Basement: Finished,Full,Interior Entry |
Beds & Baths Number of Bedrooms: 6Number of Bathrooms: 4 |
Dimensions and Layout Living Area: 2488 Square Feet |
Appliances & Utilities Utilities: Cable Available, Electricity Available, Electricity Connected, Internet Access (Wired), Natural Gas ConnectedAppliances: Convection Oven, Cooktop, Dishwasher, Dryer, Electric Water Heater, Freezer, Microwave, Oven, Range, Refrigerator, WasherDishwasherDryerLaundry: In UnitMicrowaveRefrigeratorWasher |
Heating & Cooling Heating: Forced AirHas CoolingAir Conditioning: Central AirHas HeatingHeating Fuel: Forced Air |
Fireplace & Spa Number of Fireplaces: 2Fireplace: Basement, Living RoomHas a Fireplace |
Gas & Electric Has Electric on Property |
Windows, Doors, Floors & Walls Common Walls: No Common Walls, No One Above, No One Below |
Levels, Entrance, & Accessibility Stories: 1Levels: One |
View No View |
Exterior Features |
|---|
Exterior Home Features Roof: ShingleFencing: Full |
Parking & Garage Number of Garage Spaces: 1Number of Covered Spaces: 1No CarportHas a GarageHas an Attached GarageHas Open ParkingParking Spaces: 1Parking: Concrete,Gravel,Finished |
Water & Sewer Sewer: Public Sewer |
Finished Area Finished Area (above surface): 2488 Square Feet |
Property Information |
|---|
Year Built Year Built: 1941 |
Property Type / Style Property Type: Residential IncomeProperty Subtype: DuplexStructure Type: DuplexArchitecture: Duplex |
Building Construction Materials: Frame, Stucco |
Property Information Condition: Updated/RemodeledNot Included in Sale: Seller's Personal PropertyParcel Number: 17, 18, 19 |
Price & Status |
|---|
Price List Price: $599,000 |
Status Change & Dates Off Market Date: Thu Jun 17 2021 |
Active Status |
|---|
MLS Status: Closed |
Location |
|---|
Direction & Address City: Colorado SpringsCommunity: Grand View Add Colo Spgs |
School Information Elementary School: Queen PalmerElementary School District: Colorado Springs 11Jr High / Middle School: GalileoJr High / Middle School District: Colorado Springs 11High School: PalmerHigh School District: Colorado Springs 11 |
Building |
|---|
Building Area Building Area: 2488 Square Feet |
HOA |
|---|
No HOA |
Lot Information |
|---|
Lot Area: 0.28 acres |
Listing Info |
|---|
Special Conditions: Standard |
Offer |
|---|
Contingencies: None KnownListing Terms: 1031 Exchange, Cash, Conventional, FHA, Other |
Mobile R/V |
|---|
Mobile Home Park Mobile Home Units: Feet |
Compensation |
|---|
Buyer Agency Commission: 2.8Buyer Agency Commission Type: % |
Notes The listing broker’s offer of compensation is made only to participants of the MLS where the listing is filed |
Business |
|---|
Business Information Ownership: Corporation/Trust |
Expense Tenant Pays: Cable TV, Electricity, Gas, Internet, Telephone, Trash Collection, Water |
Miscellaneous |
|---|
BasementMls Number: 7051970 |
Additional Information |
|---|
Mlg Can ViewMlg Can Use: IDX |
Last check for updates: about 17 hours ago
Listed by Tristan Trujillo, (970) 749-3271
Engel & Volkers Denver
Bought with: Christopher Morrison, (719) 592-0833, Action Team Realty
Source: REcolorado, MLS#7051970
Price History for 1012 Iowa Avenue
| Date | Price | Event | Source |
|---|---|---|---|
| 01/22/2024 | ListingRemoved | Engel & Volkers | |
| 12/21/2023 | ListingRemoved | Engel & Volkers | |
| 09/21/2023 | ListingRemoved | REcolorado #7051970 | |
| 05/03/2023 | ListingRemoved | Engel & Volkers | |
| 10/24/2022 | ListingRemoved | Engel & Volkers | |
| 04/11/2022 | ListingRemoved | Engel & Volkers | |
| 07/21/2021 | $575,000 | Sold | REcolorado #7051970 |
| 06/18/2021 | $599,000 | Contingent | Pikes Peak MLS #3173020 |
| 06/07/2021 | $599,000 | PendingToActive | REcolorado #7051970 |
| 05/04/2021 | $599,000 | Contingent | REcolorado #7051970 |
| 05/03/2021 | $599,000 | PendingToActive | REcolorado #7051970 |
| 04/22/2021 | $599,000 | Contingent | REcolorado #7051970 |
| 04/17/2021 | $599,000 | PendingToActive | Pikes Peak MLS #3173020 |
| 04/05/2021 | $599,000 | Contingent | Pikes Peak MLS #3173020 |
| 03/18/2021 | $599,000 | PriceChange | Pikes Peak MLS #3173020 |
| 02/16/2021 | $630,000 | Listed For Sale | REcolorado #7051970 |
Property Taxes and Assessment
| Year | 2022 |
|---|---|
| Tax | $1,285 |
| Assessment | $304,689 |
Home facts updated by county records
Comparable Sales for 1012 Iowa Avenue
Address | Distance | Property Type | Sold Price | Sold Date | Bed | Bath | Sqft |
|---|---|---|---|---|---|---|---|
0.35 | Multi-Family Home | $473,000 | 02/14/24 | 5 | 4 | 2,329 | |
0.53 | Multi-Family Home | $579,000 | 03/29/24 | 4 | 2 | 2,217 | |
0.82 | Multi-Family Home | $500,000 | 02/21/24 | 4 | 3 | 2,000 | |
0.92 | Multi-Family Home | $495,000 | 08/21/23 | 4 | 2 | 1,709 | |
0.04 | Multi-Family Home | $475,000 | 11/01/23 | - | - | ||
1.54 | Multi-Family Home | $730,000 | 07/07/23 | 8 | 8 | 2,955 | |
0.18 | Multi-Family Home | $485,000 | 04/24/23 | - | - |
Assigned Schools
These are the assigned schools for 1012 Iowa Avenue.
- Palmer High School
- 9-12
- Public
- 1594 Students
4/10GreatSchools RatingParent Rating AverageGreat school. They have a lot of programs that other schools don't offer. Culturally diverse and a lot of school pride. The teachers and staff at this school are incredible.Parent Review1y ago - Queen Palmer Elementary School
- K-5
- Public
- 199 Students
5/10GreatSchools RatingParent Rating AverageMy kids have gone here for a few years and it's absolutely amazing. My kids wake up happy to go to school!Parent Review2mo ago - Galileo School Of Math And Science
- 6-8
- Public
- 447 Students
2/10GreatSchools RatingParent Rating AverageI am a current student that goes to galileo and it is not fun I get bullied all the time and there is a lot of physical fighting my friends keep getting accused of doing stuff they don't do, and school dances are a wreck and I do not recommend going to the school dance. I do recommend doing a club or doing band or choir those are my 2 favorite choosable classes they also have avid, there are 2 different classes someone could be in for avid, avid elective and avid discovery avid elective is nice cause they have these things called tutorials where people from collage tutor us and we have to fill out TRF papers and TRF is short for the tutorial request form and that is only for an avid elective class. avid discovery is where you read a book but I really don't know much about it cause I'm in elective I have advanced language arts and advanced math and advanced band which is all very nice cause you feel like school matters when you actually try and back to the physical fighting thing people get hurt and one of my friends got hit by one of my bullies by a computer and got put in the hospital and knocked out her tooth if possible I do NOT recommend going to this school if possible but they do have great front office staff and most of the teachers are strict but nice and also there is a lot of people who use me for my smartness and tons of people which I can't say their names hurt me a lot and make me super sad and when I'm around them I don't feel that safe so I always ask to move away but other than the huge amount of bullying it is goodParent Review1y ago 
Check out schools near 1012 Iowa Avenue.
Check with the applicable school district prior to making a decision based on these schools. Learn more.
Neighborhood Overview
Neighborhood stats provided by third party data sources.
What Locals Say about Central Colorado Springs
- Brianna Nicole
- Resident
- 2mo ago
"Depends on traffic on 25, normally commute is pretty easy except for all of the traffic lights on Nevada."
- Trulia User
- Visitor
- 4mo ago
"I'm a full-time online college student.I'm very busy, so I don't go out too often. The hotels next to me are always busy, and the movie theaters are constantly occupied. the parks are very clean, though."
- Trulia User
- Resident
- 7mo ago
"Keep eyes on kids because cars won’t. Halloween is the only night that the cars slow down. Break ins are extremely rare."
- Trulia User
- Resident
- 9mo ago
"I just moved into this neighborhood and it is a little hidden gem!! they are repairing all the sidewalks and streets so all brand new! the neighbors seem to be super friendly so far!! so happy I found this neighborhood!"
- Trulia User
- Resident
- 10mo ago
"everyday i see 7 regularly walking their dogs or kids to park. somedays much more runs. bikers, and walkers. I'm in my yard alot and know half my street. "
LGBTQ Local Legal Protections
LGBTQ Local Legal Protections
© 2023 REcolorado® All rights reserved. Certain information contained herein is derived from information which is the licensed property of, and copyrighted by, REcolorado®. Click here for more information
The listing broker’s offer of compensation is made only to participants of the MLS where the listing is filed.
The listing broker’s offer of compensation is made only to participants of the MLS where the listing is filed.
Homes for Rent Near 1012 Iowa Avenue
Skip to last item
Skip to first item
Off Market Homes Near 1012 Iowa Avenue
Skip to last item
- SOLDAPR 18, 2024Bruce Wayne Realty LLC, MLS#2093560
- SOLDAPR 17, 2024Sellstate Alliance Realty & Property Management
- SOLDAPR 17, 2024Keller Williams Clients Choice Realty
- SOLDAPR 16, 2024RE/MAX Real Estate Group LLC
- SOLDAPR 16, 2024Performance Plus Realty Inc
- See more homes for sale inColorado SpringsTake a look
Skip to first item
1012 Iowa Avenue, Colorado Springs, CO 80909 is a 6 bedroom, 4 bathroom, 2,488 sqft multi-family built in 1941. 1012 Iowa Avenue is located in Central Colorado Springs, Colorado Springs. This property is not currently available for sale. 1012 Iowa Avenue was last sold on Jul 21, 2021 for $575,000 (4% lower than the asking price of $599,000). The current Trulia Estimate for 1012 Iowa Avenue is $552,600.