16 Old Crystal Park Rd - Apartments FOR SALE


Manitou Springs, CO 80829
$800,000 USD
651-900-4386
16 Old Crystal Park Rd, Manitou Springs, CO for Sale
$800,000 USD
Apartments - FOR SALE
1/34
null | 6.5% Cap Rate

16 Old Crystal Park Rd
Manitou Springs, CO 80829


OVERVIEW

Access Property Page Here: https://16oldcrystalparkrd.sharplaunch.com/ Freestanding multi-family property on Old Crystal Park Rd in Manitou. Value-Add & Modernization Potential: Built in 1941, the Class C property offers massive upside to bump rents through interior modernization and micro-apartment upgrades. Flexible Commercial Zoning: Sitting on a 0.43-acre commercially zoned (C) lot, the property provides unique versatility for high-density redevelopment or adaptive re-use that standard residential zoning won't allow. Streamlined, High-Demand Unit Mix: Comprising entirely of identical 1-bed/1-bath layouts, it minimizes maintenance overhead while perfectly capturing high demand from solo professionals and local workers seeking attainable rent. Walkable Downtown Location: Located just 1–2 blocks from historic downtown Manitou Springs' core commercial corridor, giving tenants immediate pedestrian access to local dining, transit, and top-tier District 14 schools. Scarcity & Tourism Insulation: Situated at the base of Pikes Peak near the Manitou Incline and Garden of the Gods, the asset benefits from high barriers to entry for new construction and a resilient local tourism economy

FOR SALE DETAILS

PRICE

$800,000 USD

PRICE/SF

$325 USD /SF

# OF UNITS

6

PRICE/UNIT

$133,333

CAP RATE

6.5%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1941

PARKING SPACES

10

LAND DETAILS

LAND ACRES

0.43 AC

LAND SF

18,731 SF

ZONING

C

APN/PARCEL ID

74043-08-015

ASK ABOUT THIS PROPERTY

Doug McNicollMRG Realty PartnersMore Info
651-900-4386

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Doug McNicollMRG Realty PartnersMore Info
651-900-4386

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.