1510 Crestone Avenue, Colorado Springs, CO, 80905

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$650,000

Highlights
Income
Triplex
1510 Crestone Avenue, Colorado Springs, CO, 80905 listed by Amanda Schneider MRP SFR
Under Contract - Showing
MLS#: 3789842
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Space maker

Property Description

One of the most versatile income-producing properties in Colorado Springs with 5 years of strong rental history and multiple ways to make money. This Ivywild triplex has been successfully operated as a short-term, medium-term, and long-term rental—giving you the flexibility to pivot strategies as the market changes. Live in one unit and rent the others, or keep it fully investment-focused. The property features an oversized 2-car garage with a built-in grease pit and attached heated storage space (previously used as a podcast studio), PLUS a separate standalone 1-car garage. Both garage spaces offer additional income potential and can be rented separately. R5 zoning offers future upside with the ability for additional units, like converting the garages into living space. Low property taxes and paid-off solar panels keep operating costs down and more money in your pocket. The upstairs unit is a fully furnished 2 bed/1 bath with a large laundry room & extra storage, currently rented as a medium-term rental. The downstairs unit, a 2 bed/2 bath, features a spacious primary suite with attached bath, a flex space perfect for an office or possible third bedroom, and in-unit laundry. This unit has fresh paint, new carpet, and updated tile in both bathrooms. The unit comes unfurnished and was operated as a long-term rental over the past year, but is now ready for its next tenant or owner. The studio unit comes fully furnished with 2 sleeping areas (including a loft kids love), full-size fridge, and 2-burner cooktop - it has been a proven short-term rental performer. All units are updated with modern finishes and granite countertops. But wait, there’s more! Plenty of parking with 4 spots in the driveway plus 3 additional off-street spaces. Fully fenced backyard features low-maintenance xeriscaping and turf—perfect for keeping things simple and an outdoor space for pets. Turnkey, flexible, and packed with upside—this one checks all the boxes.

Property Listed By

Amanda Schneider MRP SFR
5077-133-917
230020989

Amanda Schneider
5077-133-917
00030242

Property Details

General Features

Property Type: Triplex
Year Built: 1963
County: El Paso
School District: Colorado Springs 11
List Price: $650,000

Unit Information

Beds	Baths	Parking	Rent	SqFt
2	1		$2,000	1,092
2	2	1	$2,000	1,312
2	1		$1,750	440

Total Parking Spaces: 3
Total Units: 3
Total Rent: $5,650
Other Rentable Space: Oversized attached 2-car garage w/ heated storage & 1 car standalone garage

Structure

Foundation: Full Basement, Walk Out
Structure: Framed on Lot
Construction Status: Existing
Siding: Alum/Vinyl/Steel
Window Type: Vinyl, Wood
Fence: Rear
Fence: Rear

Features

Heating: Baseboard, Forced Air
Cooling: Ceiling Fan, Wall Unit
Laundry: Electric Hook-up
Appliances: Cook Top, Dishwasher, Dryer, Microwave Oven, Oven, Refrigerator, Washer

Taxes, Utilities, Lot

Tax: $1,894
Lot Size: 0.18 Acres, 8,000 SqFt
Appliances: Cook Top, Dishwasher, Dryer, Microwave Oven, Oven, Refrigerator, Washer
Fireplace: Two
Laundry: Electric Hook-up
Heating: Baseboard, Forced Air
Cooling: Ceiling Fan, Wall Unit
Existing Water: Municipal
Existing Utilities: Electricity Connected, Natural Gas Available, Solar

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