3737 Red Canon Ave 10 Unit Apartment Building $1,975,000 ($197,500/Unit) Colorado Springs, CO 80904

Located in a quiet neighborhood between downtown Colorado Springs and Manitou Springs and adjacent to Red Rock Open Space, Trailside Pikes Peak offers a rare opportunity: a recently renovated 10-unit apartment building in a prime location situated in unincorporated El Paso County land (outside the city limits) — meaning all 10 units are eligible for short-term rental use.
Zoning & Use Flexibility: Because the property is under county jurisdiction, all 10 units can legally be operated as short-term rentals (e.g. Airbnb, VRBO)
Recent Renovations (2024): Every unit was upgraded in 2024, including new kitchens, bathrooms, lighting, and appliances. All units have air conditioning.
Strong Location & Lifestyle Appeal Just a 2-minute walk to Red Rock Canyon Open Space — over 1,474 acres of trails, scenic vistas, and outdoor recreation right at your doorstep. Only 3 minutes by car to the charming mountain town of Manitou Springs, with galleries, boutiques, cafés, and direct access to hiking and the Pikes Peak Cog Railway. Approximately 6 minutes to Downtown Colorado Springs and just 4 minutes to Old Colorado City, a historic district with a vibrant markets, local art, music, and boutique shops.
Upside Opportunity: Convert all units to short/mid-term rentals to maximize rental income, 10-units on one property to lower per unit management expenses
Strong Comparable Market Fundamentals: This neighborhood is a top performing STR sub-market, leading to strong sales for properties converted to STR’s