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516 Alexander Rd - Knob Hill Townhome Lots 0.2 Acres of Residential Land Offered at $250,000 in Colorado Springs, CO 80909
Investment Highlights
- Zoning
- Quiet street with alley access
- Size
Executive Summary
My plans are for 3 story, modular townhomes, with 3 bedrooms, 2 bathrooms, 2 car garage and a bonus room for a studio, Air B&B, workshop or storage. I have complete construction drawings for modulars, a preliminary site plan for 4 units. Might fit 5 units on this lot. I have building pricing all estimated for modulars in 1, 2, 3, or 4 units. Partner wants to cash out. I am willing to leave my equity in as a developer partner if necessary. Email me for details or to schedule a meeting.
Financial Summary (Actual - 2026) |
Annual | Annual Per AC |
|---|---|---|
| Gross Rental Income |
$16,200
|
$83,034.34
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$16,200
|
$83,034.34
|
| Net Operating Income |
-
|
-
|
Financial Summary (Actual - 2026)
| Gross Rental Income | |
|---|---|
| Annual | $16,200 |
| Annual Per AC | $83,034.34 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per AC | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per AC | - |
| Effective Gross Income | |
|---|---|
| Annual | $16,200 |
| Annual Per AC | $83,034.34 |
| Net Operating Income | |
|---|---|
| Annual | - |
| Annual Per AC | - |
Property Facts
1 Lot Available
Lot 1-5
| Price | $250,000 | Lot Size | 0.20 AC |
| Price Per AC | $1,281,177.45 |
| Price | $250,000 |
| Price Per AC | $1,281,177.45 |
| Lot Size | 0.20 AC |
This lot currently has a single family home, rented. I have plans to build 4-5 townhomes on this lot. Lot is surveyed, and a preliminary sight plan and soils report are completed.
Description
Flat lot with a single family home on it. The lot was re-zoned for multi-family and I have been working on entitlements for subdivision and building 4 or 5 modular townhomes. Retail value of townhomes is between $350,000-$400,000 each. I have another property in neighborhood that is larger and can fit 8-12 townhomes on it. It is zoned R5. I am open to joint venture if necessary. Call or email for more details.
1 1
Fairly walkable
50/100
Very drivable
80/100
Limited public transit
30/100
Fairly bikeable
50/100
Property Taxes
| Parcel Number | 64093-36-009 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $18,870 |
Property Taxes
Parcel Number
64093-36-009
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$18,870
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516 Alexander Rd - Knob Hill Townhome Lots