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- LoopNet Team
1218-1224 Manitou Ave
Manitou Springs, CO 80829
Water Wheel Motel · Multifamily Property For Sale
·
9 Units
INVESTMENT HIGHLIGHTS
- Historic Manitou Springs
- Investment Opportunity
- Located at the Base of Pikes Peak
- Walking Distance to Shops, Trails and Restaurants
- 500,000 Visitors Annually (When Cog was Present)
- Owner Carry Considered
PROPERTY FACTS
| No. Units | 9 | Lot Size | 0.38 AC |
| Property Type | Multifamily | Building Size | 6,490 SF |
| Property Subtype | Apartment | No. Stories | 2 |
| Apartment Style | Low-Rise | Year Built | 1951 |
| Building Class | C | Parking Ratio | 2.77/1,000 SF |
| Zoning | C | ||
| No. Units | 9 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.38 AC |
| Building Size | 6,490 SF |
| No. Stories | 2 |
| Year Built | 1951 |
| Parking Ratio | 2.77/1,000 SF |
| Zoning | C |
ABOUT 1218-1224 MANITOU AVE , MANITOU SPRINGS, CO 80829
New to the Manitou Springs market is The Water Wheel Motel. This is a 9-room hotel (2,312 square feet) with an additional 1,142 SF house/building on the property. Additionally, there is a 24,550 SF "buildable" Creekside lot. It’s all zoned commercial (C). Annual taxes are $3,200. The hotel rooms have been remodeled. The house is being refurbished and could be used for single family living or a rental duplex or converted for business use. Located adjacent to the Manitou Springs Bottling building at the west end of Manitou Springs, this property is walking distance to Historic Downtown Manitou, the Cog Railway (re-opening 2021), the Incline, and Barr Trail. Manitou Springs History: General William Jackson Palmer and Dr. William Abraham Bell founded Manitou Springs in 1872 intending the town to be a “scenic health resort”. Manitou Springs has been the quintessential tourist town since visitors discovered the mineral spring healing waters of the Ute Indians. Many of the town’s mineral springs still function and the water-is-free. The springs are walking distance from the Water Wheel. The downtown remains of interest to year-around travelers because of its shops, restaurants, pubs, Creekside city park and a host of planned outdoor activities.
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| Studios | 8 | - | - |
