16 Old Crystal Park Rd
Manitou Springs, CO 80829
Building Overview
- Address 16 Old Crystal Park Rd, Manitou Springs, CO 80829, USA
- Property Type Multifamily
- Units 6
- Year Built 1941
- Lot Size 18,535 sqft
- Unit Mix 1Bd/1Ba
- Parking Ample Off Street Parking
- Price $760,000
Investment Highlights
Proven Rental Upside: Current "all-in" monthly gross rent sits at $5,865 across 6 units; strategic interior renovations (kitchens/baths) present a clear path to market rates of $1,300+ per unit.
Value-Add Potential: Perfect opportunity to drive equity and maximize NOI through cosmetic updates, modernized fixtures, and localized interior styling.
Prime Destination Location: Ideally positioned just off Hwy 24, providing tenants with a highly walkable lifestyle near local Manitou Springs shops, dining, and coffee houses.
Outdoor Recreation Access: Located minutes from world-class outdoor landmarks, including Garden of the Gods, Red Rock Open Space, and premium hiking/biking trails.
Strong Operational Bones: Features two newer, centralized water heaters servicing all 6 units, minimizing immediate heavy capital expenditure requirements.
Desirable Tenant Amenities: Equipped with ample off-street parking, private tenant porches, and a generous, shared courtyard green space.
