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102 Holly St 9 Unit Apartment Building $1,795,000 ($199,444/Unit) 7.78% Cap Rate Colorado Springs, CO 80904
Investment Highlights
- 9 Income-Producing Residential Units
- Four R-2 Zoned Parcels
- Furnished Airbnb Units Included
- 7.78% Cap Rate
- Mixed Long-Term & Short-Term Rental Income
- Prime Westside Colorado Springs Location
Executive Summary
Charm, history, and an unbeatable location come together in this exceptional Westside investment opportunity bordering Manitou Springs. Set against the backdrop of Pikes Peak, this unique income-producing property spans four parcels zoned R-2 and features nine residential units, including a beautifully restored historic 2-bedroom, 1-bath Craftsman home, a newer 2-bedroom, 1-bath two-story cottage, four 1-bedroom cottages, and three studio cottages. Currently operating as a successful combination of long-term and short-term rentals, this property offers exceptional flexibility for investors and future owners. Continue operating as an income-producing rental portfolio (buyer to verify all licensing requirements), create a private family compound with rental income, establish a corporate or church retreat, or explore future redevelopment opportunities. One parcel includes grandfathered rights for an additional dwelling, creating even greater long-term potential. The setting is truly one of a kind. Directly across the street, horseback riders from the neighboring riding stable pass by daily, creating the feeling of a mountain retreat while being just minutes from Old Colorado City, Garden of the Gods, Manitou Springs, downtown Colorado Springs, shopping, dining, hiking and biking trails, schools, and convenient access to I-25. The property features mature trees, charming cottages, inviting outdoor gathering areas, and assigned parking throughout the complex. Each unit has been updated while preserving the character and charm that make this property so appealing to tenants and guests alike. With multiple income streams, an irreplaceable location, flexible zoning, and future development potential, opportunities like this rarely become available on Colorado Springs' highly sought-after Westside. Financial information is available upon request with a signed confidentiality agreement.
Data Room Click Here to Access
- Operating and Financials
Financial Summary (Actual - 2025) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$205,171
|
$63.88
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$205,171
|
$63.88
|
| Taxes |
$2,734
|
$0.85
|
| Operating Expenses |
$51,891
|
$16.16
|
| Total Expenses |
$54,625
|
$17.01
|
| Net Operating Income |
$150,546
|
$46.87
|
Financial Summary (Actual - 2025)
| Gross Rental Income | |
|---|---|
| Annual | $205,171 |
| Annual Per SF | $63.88 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $205,171 |
| Annual Per SF | $63.88 |
| Taxes | |
|---|---|
| Annual | $2,734 |
| Annual Per SF | $0.85 |
| Operating Expenses | |
|---|---|
| Annual | $51,891 |
| Annual Per SF | $16.16 |
| Total Expenses | |
|---|---|
| Annual | $54,625 |
| Annual Per SF | $17.01 |
| Net Operating Income | |
|---|---|
| Annual | $150,546 |
| Annual Per SF | $46.87 |
Property Facts
Amenities
Unit Amenities
- Air Conditioning
- Microwave
- Kitchen
- Refrigerator
- Oven
- Tub/Shower
Site Amenities
- 24 Hour Access
- Controlled Access
- Courtyard
- Laundry Facilities
- Picnic Area
- Tenant Controlled HVAC
- Walking/Biking Trails
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 3 | - | - |
| 1+1 | 4 | - | - |
| 2+1 | 2 | - | - |
1 1
Somewhat walkable
30/100
Exceptionally drivable
100/100
Limited public transit
20/100
Moderately bikeable
60/100
Property Taxes
| Parcel Number | 74032-05-023 | Total Assessment | $32,000 (2026) |
| Land Assessment | $0 (2026) | Annual Taxes | $2,734 ($0.85/SF) |
| Improvements Assessment | $0 (2026) | Tax Year | 2025 |
Property Taxes
Parcel Number
74032-05-023
Land Assessment
$0 (2026)
Improvements Assessment
$0 (2026)
Total Assessment
$32,000 (2026)
Annual Taxes
$2,734 ($0.85/SF)
Tax Year
2025
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Presented by
Pulse Real Estate Group Llc
102 Holly St
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