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23 Manitou Avenue

$3,050,000 (Sale)
23 Manitou Avenue, Manitou Springs, CO 80829
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Property Details

  • Property Type: Multifamily
  • Building Size: 12,445 SF
  • Lot Size: 3.68 Acres
  • Units: 27

Overview

Great investment opportunity in the historic destination town of Manitou Springs, CO. The El Colorado Lodge Motel is located at the base of Pikes Peak and the gateway to Garden of the Gods Park. Manitou Springs has over 750,000 visitors each year and is a destination for travelers all over the world. The El Colorado is minutes from Manitou Springs restaurants, shops, festivals, the Cog Railway and amazing hiking. The El Colorado Lodge was built in 1926 and has 27 rooms, plus a 1,960 SF managers residence/office, all on 3.6 acres. The Seller has remodeled over half of the units and is currently remodeling more. All units have 1-2 beds, private bathrooms, air conditioning and many of the units also have kitchenettes. Guest amenities include an outdoor pool, basketball court, playground and laundry.

Highlights

  • Zoned Commercial
  • Live/Work Opportunity
  • Additional Revenue From Parking Lease
  • Opportunity to Improve Revenue
  • Recently Remodeled
  • Potential Seller Carry

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