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16 Old Crystal Park Rd 6 Unit Apartment Building $1,107,624 CAD ($184,604 CAD/Unit) 6.50% Cap Rate Manitou Springs, CO 80829
Executive Summary
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
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
Property Facts
| Price | $1,107,624 CAD | Building Class | C |
| Price Per Unit | $184,604 CAD | Lot Size | 0.43 AC |
| Sale Type | Investment | Building Size | 2,464 SF |
| Cap Rate | 6.50% | No. Stories | 1 |
| No. Units | 6 | Year Built | 1941 |
| Property Type | Multifamily | Parking Ratio | 4.06/1,000 SF |
| Property Subtype | Apartment | Cross Streets | Crystal Park Rd |
| Apartment Style | Low-Rise | ||
| Zoning | C | ||
| Price | $1,107,624 CAD |
| Price Per Unit | $184,604 CAD |
| Sale Type | Investment |
| Cap Rate | 6.50% |
| No. Units | 6 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.43 AC |
| Building Size | 2,464 SF |
| No. Stories | 1 |
| Year Built | 1941 |
| Parking Ratio | 4.06/1,000 SF |
| Cross Streets | Crystal Park Rd |
| Zoning | C |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 6 | - | - |
1 1
Somewhat walkable
30/100
Exceptionally drivable
100/100
Limited public transit
30/100
Fairly bikeable
50/100
Property Taxes
| Parcel Number | 74043-08-015 | Improvements Assessment | $0 CAD |
| Land Assessment | $0 CAD | Total Assessment | $82,833 CAD |
Property Taxes
Parcel Number
74043-08-015
Land Assessment
$0 CAD
Improvements Assessment
$0 CAD
Total Assessment
$82,833 CAD
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16 Old Crystal Park Rd
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