Price Reduction
Address
11420 Black Forest Road Colorado Springs, CO
Price
$ 1,500,000
Property Attributes
  • MLS#3583937
  • TypeIncome
  • CountyEL PASO
  • CityColorado Springs
  • AreaAcademy
  • Zip80908
  • StyleMix Use
  • Year Built1953
  • Taxes$ 10549
  • Price$ 1,500,000
  • Bedrooms0
  • Full Bathrooms0
  • Half Bathrooms0
  • Lot Size9.77 Acres
Listing Provided Courtesy Of:
Exp Realty LLC
Data Source:
Pikes Peak MLS (PPMLS) - 30 - CO
Property Description

Unique investment opportunity in the beautiful Black Forest Area. Property is dual zoned for both residential and commercial and has 12 income producing units on 9.77 acres 1/2 block south of Burgess and Black Forest Road. Buildings include restaurant, single family home that is broken into two units; one "Air BNB" that is occupied 95% of the time and one studio apartment. One oversized garage, plus 7 other barns and warehouses and acreage for storage. Great in-place rental income as well as tenants currently paying all utilities. Recent updates to the "Air BNB" and studio apartment: tile flooring in kitchens, updated appliances, new paint, etc. Ample parking in front of the buildings and around the property. Wide variety of lessees and they have been long term renters. Five of the units are on month to month leases. R & R Cafe lease ends June 2022. Three other units are on a three year lease . All tenants have expressed wanting to stay. Great location and Good condition. 2 septics (converted into one large one) and shared well for home and restaurant. Property is being sold as is.

Price History
6/11/2021 Listed $1,700,000
9/18/2021 12% - $1,500,000

General Features

Appliances Dishwasher, Dryer, Range Oven, Refrigerator, Washer
Property Type Income
Roof Composite Shingle
School District Academy-20
Status Active
Sub Area Unknown
Sub Type Mix Use
Tax Amount 10549.00
Tax Year 2020
Utilities Cable, Electricity, Gas Available
Water Well

Interior Features

Fire Place Desc None
Laundry Facility Electric Hook-up
Unit Count 5

Exterior Features

Fence See Prop Desc Remarks
Foundation Slab
Lot Size 425581.0000
Lot Size Area 425581.00
Siding Alum/Vinyl/Steel, Shingle, Stone, Wood, Other
Structure Brick, Framed on Lot, Metal Frame, Stone, Wood Frame, Other
Wells Numberof 1

Amenities

  • Foreclosure
  • Views
  • Short Sale
  • New Construction
  • Adult 55+
  • Lease To Own
  • No HOA Fees
  • Furnished
  • Primary On Main
  • Air Conditioning
  • Seller Finance
  • Green
  • Fixer Upper
  • Horse
  • Golf
  • Fireplace
  • Deck
  • Garage
  • Basement
  • Pool

Property vs Income Average in 80908

Price
AVG $1.55M
$1.5M
Taxes
AVG $6,679
$10,549
Visits
AVG 22
46
Year Built
AVG 1978
1953