List price was lowered by $75K. Tour it before it's gone!
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About this home
HUGE Price Reduction on this great investment - now offering a 7.44% Cao Rate! 2107 Preuss Road is a turnkey four-unit investment opportunity in Colorado Springs offering immediate income, a strong in-place cap rate, and meaningful upside. The 3,573-square-foot quadplex includes two 2-bedroom and two 3-bedroom units, with updated interiors, LVT flooring, newer carpet and appliances, and many more upgrades. Fully rented with optional management in place - this property is as turnkey as they come! An ideal acquisition for the investor seeking dependable current cash flow with a clear value-add strategy, 2107 Preuss presents the opportunity to substantially increase revenue by converting units to fully furnished short-term (Airbnb or VRBO) or medium-term rentals (contact agent for compatibles - buyer to verify eligibility). Its larger two- and three-bedroom layouts are well suited to traveling professionals, military and government personnel, corporate relocations, medical travelers, and families in transition—tenant segments that often value furnished, utility-inclusive homes and flexible stays. Short-term and Medium-term furnished rentals commonly command a premium over conventional leases in exchange for convenience and flexibility. With completed capital improvements, four spacious units, and a flexible path to higher-income furnished operations, this asset offers a compelling blend of current yield, operational stability, and future rental-growth potential. NEW Offer price of $600,000—an exceptional value compared with a neighboring four-unit building that recently sold for $717,000, providing investors immediate basis advantage and compelling upside potential. Close to Memorial Park and Prospect Lake! Contat agent for showings.
Prospect Park, located between Memorial Park and Downtown Colorado Springs, is a historic and residential Colorado Springs neighborhood with tree-lined streets and early-20th-century architecture. The neighborhood’s character concentrates around the Pikes Peak Avenue and Union Boulevard corridor, where small storefronts, corner eateries, and steady traffic set an urban edge. Brick bungalows and classic foursquares sit on compact lots, with mature shade trees softening the grid. Memorial Park’s lake paths and sports fields shape daily routines and weekend calendars. The Colorado Springs Fine Arts Center at Colorado College and the Olympic Training Center add a cultural-and-athletic backdrop nearby. Sidewalks and bike lanes connect quickly to museums, cafes, and downtown events.
Provided by Walk Score and Local Logic
Offer insights
2107 Preuss Rd · $600,000
$600K and above
75% chance or better to win
Why $600K+ is a strong offer
DAYS ON MARKET
63 days
The average home goes pending in 101 days.
SALE-TO-LIST
95.5%
Most homes are selling 4% below list price.
About offer insights
Property details
Interior
Exterior
Finance
Kitchen
Bathroom
Bedroom
Interior features
Updated/remodeled condition
Bedrooms
10 bedrooms
Bathrooms
4 bathrooms
Kitchen
No specific kitchen appliance details provided
Laundry & utility
No specific laundry or utility room details provided
Flooring
No flooring details provided
Heating & cooling
Electric heating
Exterior features
Public water
Public sewer
Cable available
Electricity available and connected
Home design
Residential income property (quadruplex)
Two levels
Property is unattached
Individually owned
Parking
4 off-street parking spaces (4 total parking spaces)
Security
No security details provided
Construction
Stucco construction
Composition roof
Utilities
Public water
Public sewer
Electric service connected
Cable available
HOA & community
No HOA details provided
Financial info
Lease expiration: 2027-06-19
Other
Zoning: R-5
Lot size approximately 0.21 acres
Building area reported as 3,573
Parcel number available
Electricity and solar
View estimated energy costs and solar savings for this home
HUGE Price Reduction on this great investment - now offering a 7.44% Cao Rate! 2107 Preuss Road is a turnkey four-unit investment opportunity in Colorado Springs offering immediate income, a strong in-place cap rate, and meaningful upside. The 3,573-square-foot quadplex includes two 2-bedroom and two 3-bedroom units, with updated interiors, LVT flooring, newer carpet and appliances, and many more upgrades. Fully rented with optional management in place - this property is as turnkey as they come! An ideal acquisition for the investor seeking dependable current cash flow with a clear value-add strategy, 2107 Preuss presents the opportunity to substantially increase revenue by converting units to fully furnished short-term (Airbnb or VRBO) or medium-term rentals (contact agent for compatibles - buyer to verify eligibility). Its larger two- and three-bedroom layouts are well suited to traveling professionals, military and government personnel, corporate relocations, medical travelers, and families in transition-tenant segments that often value furnished, utility-inclusive homes and flexible stays. Short-term and Medium-term furnished rentals commonly command a premium over conventional leases in exchange for convenience and flexibility. With completed capital improvements, four spacious units, and a flexible path to higher-income furnished operations, this asset offers a compelling blend of current yield, operational stability, and future rental-growth potential. NEW Offer price of $600,000-an exceptional value compared with a neighboring four-unit building that recently sold for $717,000, providing investors immediate basis advantage and compelling upside potential. Close to Memorial Park and Prospect Lake! Contat agent for showings.
The R-5 zone district accommodates attached and detached single-family, two-family, and multi-family dwelling structures at the highest density permitted in the City's standard residential districts (non-R-Flex). Land uses are as indicated in Table 7.3.2-A (Base and NNA-O District Use Table). It is intended for use in areas adjacent to the FBZ district or R-Flex, Mixed-Use, or PDZ districts where similar or higher densities or intensities of use are permitted.
Permitted uses
Include but are not limited to:
Agriculture
Community / recreation center
Religious facility
Day care facility
Housing-Group
Housing-Single unit
Housing-Multiple units
Housing-Senior
Infrastructure
Housing-Mobile home park
Nov 9, 2021 • Final
437
Work on a backflow preventer.
Plumbing
Oct 8, 2021 • Final
437
Work on a meter reset.
Electrical
Electric meter
Permit history is from public records and may be incomplete or inaccurate. Redfin and its agents make no representations about the property condition or permit status. Buyers should independently verify all information.
Local insights from Redfin agents
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