Palmer Lake Homes with Walkout Basement

Welcome to Palmer Lake, Colorado – a hidden gem nestled in the heart of El Paso County. Known for its breathtaking natural beauty, this charming town offers a perfect blend of outdoor adventures and a close-knit community vibe. Surrounded by the majestic Rocky Mountains, Palmer Lake is a haven for nature enthusiasts, with countless hiking trails, serene lakes, and stunning vistas just waiting to be explored. The town's picturesque setting is complemented by its rich history and quaint downtown area, featuring local shops, cozy cafes, and friendly faces.

For those seeking their dream home in this idyllic location, Palmer Lake boasts a variety of real estate options, including stunning homes with walkout basements. These properties are designed to maximize the breathtaking views and provide easy access to outdoor living spaces. Imagine stepping out onto your patio to enjoy a morning coffee while soaking in the crisp mountain air or hosting summer barbecues with friends and family in your beautifully landscaped backyard.

Homes with walkout basements in Palmer Lake offer not just additional living space but also the unique opportunity to create your own personal sanctuary. Whether you envision a cozy family room, a home office, or a guest suite, the possibilities are endless. With the added benefit of being close to nature trails and recreational activities, these homes perfectly complement the lifestyle that Palmer Lake embodies.

Discover the charm of Palmer Lake, where your dream home awaits amidst the stunning backdrop of Colorado's natural beauty. Embrace the tranquility and adventure that this remarkable town has to offer, and make it your home today!

Newest Palmer Lake Homes with Walkout Basement

$1,595,000

3 Beds ⋅ 4 Baths ⋅ 7749321 MLS

Historic Glen Park's most iconic & stunning property is available for the 1st time in 40 years! This enchanting 6.5 AC horse property located at the foot of Mt. Chautauqua has a seasonal pond, aspen groves, meadow & creek crossings all at 7,295 FT above sea level. Custom 1977 mountain contemporary with the perfect floor plan for entertaining! Living room features a remarkable 20' masonry FP, beams, 2 walkouts, plus a wall of windows for natural light. Main-level primary w/luxe retro en suite bath! Updated kitchen w/Brooks Brothers cabinetry, granite counters, stainless appliances, eating nook & built-in hutch! Spacious main family room/dining combo has FP & walks out! Basement is also a walkout & includes a wet bar w/custom woodwork, & FP! Huge storage area! Upper level includes two beds plus a full bath & EZ access attic storage! The huge wraparound deck will be your favorite place to just "be"! Active solar! The 2-story, concrete-block horse barn has 220V, stalls & a hay loft! Fenced for horses! Shed w/220V! Located just 2 blocks to Nat'l. Forest & the reservoir trailhead! Breathtaking views! Nearby park w/playground & pickle ball! Enjoy small town traditions, fun community events & unlimited outdoor recreation! You really can have it all! Strictly sold as-is. This is the ultimate opportunity to "live off the land"...grow a garden, raise horses, chickens & goats! Make this your modern homestead or hobby farm! Build a bunkhouse & offer trail rides up the mountain! Board horses! This is a OIAL opportunity...you have been dreaming it & here it is! For those planning for generational wealth, this property can be subdivided. Palmer Lake's R-3 medium-density zoning allows for 5,000 SF lots! Subdivide into larger custom home lots or smaller parcels for traditional cabins! Coined the Glen's "crown jewel", this is one of very few acreage properties that exist in this area…let alone at the base of a mountain with such easy Nat’l Forest access! No covenants/HOA!

222 Clio Ave, Palmer Lake

$1,795,000

5 Beds ⋅ 5 Baths ⋅ 7983934 MLS

Some homes offer square footage. This one offers an experience. Sarah Susanka's renderings inspired local craftsman Tom Day to create a home where architecture embraces the landscape. Monument Creek flows below the property, Chautauqua Mountain fills the view, and 2.21 wooded acres become part of everyday life. Handcrafted alder millwork, custom glass transoms, bamboo flooring and built-ins reflect rare craftsmanship. The welcoming front porch leads to a home thoughtfully designed to live larger than its footprint. The kitchen features custom birch cabinetry, slab granite, an oversized island and a huge walk-in pantry, opening to a dining room with custom built-ins, a slab granite buffet and statement mirror before flowing into the living room with a gas fireplace. Visitors often remark on the spacious living areas, abundant storage and how the home lives far larger than its footprint. The composite deck includes a natural gas hookup for grilling. A main-level office with built-ins, spacious bedrooms, bonus spaces and a private guest suite with its own staircase from the garage provide flexibility. The walk-out lower level offers a wood-burning fireplace, wet bar, guest bedroom and full bath. Radiant heat, tankless on-demand hot water, whole-house audio, central vacuum, hardwired internet and additional rear parking continue the thoughtful design. Private trails lead to secluded sitting areas, a picnic table beside the creek and direct access to the Palmer Lake Reservoir Trail. Walk to Palmer Lake for kayaking, paddleboarding, fishing, disc golf or the shoreline trail, then cross the pedestrian bridge into town for coffee, restaurants and community events. Glen Park, with tennis, pickleball and playgrounds, is just around the corner. Wake to mountain views, spend the day in Palmer Lake, then return to your own trails, your own creek and your own quiet corner beneath the Milky Way. It's the rare opportunity to walk to town while still feeling secluded in the woods.

400 Valley Crescent St, Palmer Lake

$675,000

4 Beds ⋅ 4 Baths ⋅ 1441272 MLS

Nestled at the end of a quiet cul-de-sac in the sought-after Elephant Rock Acres community, this custom stucco ranch offers the mountain lifestyle buyers dream of with breathtaking views of the iconic Palmer Lake Star. Just minutes from downtown Palmer Lake, enjoy easy access to local restaurants, coffee shops, parks, hiking and biking trails, Monument Preserve, Palmer Lake Reservoir, and I-25 for a convenient commute to both Colorado Springs and Denver. Located within the highly regarded Lewis-Palmer School District, this home combines small-town charm with everyday convenience. Inside, you'll find 4 bedrooms, 4 bathrooms, and nearly 2,900 square feet of thoughtfully designed living space. The spacious kitchen features hickory cabinetry, a center island with range hood and pot rack, and opens to the inviting living area with vaulted ceilings, plant shelves, and abundant natural light. Radiant heated floors provide year-round comfort, while knotty pine doors and baseboards add warmth and Colorado character throughout. The fully finished walkout basement expands your living space with two additional bedrooms, a spacious family room, and direct outdoor access, offering excellent flexibility for a potential mother-in-law suite, multi-generational living, guest quarters, or possible rental opportunities. Step outside to the impressive covered front porch or relax on the low-maintenance deck, both perfectly positioned to take in the surrounding mountain scenery and the famous Palmer Lake Star. Complete with an attached two-car garage, durable metal roof, and no HOA, this is Colorado living at its finest.

746 Westward Ln, Palmer Lake

$615,000

5 Beds ⋅ 3 Baths ⋅ 9856957 MLS

Nestled in a scenic mountain setting near Palmer Lake, this well-maintained home offers a warm, inviting layout with thoughtful updates and versatile living spaces. The main level features vaulted ceilings, abundant natural light, and a cozy living room anchored by a wood-burning stove and stone accent wall—creating a comfortable gathering space year-round. The kitchen provides generous cabinetry, an island for casual seating, and seamless access to the expansive deck, ideal for entertaining or enjoying the surrounding views. The primary suite offers a peaceful retreat with ample space and an updated en-suite bath. Additional bedrooms provide flexibility for guests, home office, or hobby space. The finished lower level expands the living area with a spacious family room, additional bedrooms, and a full bath—well suited for multi-generational living or extended stays. Outdoor living is a highlight with multiple deck and patio areas, mature surroundings, and a sense of privacy. Conveniently located near outdoor recreation, trails, and the charm of Palmer Lake, this home blends comfort, function, and mountain lifestyle living.

151 Star View Cir, Palmer Lake

$825,000

5 Beds ⋅ 3 Baths ⋅ 6914889 MLS

~BACK WITH A NEW & IMPROVED DRIVEWAY~ You’ll feel like you’re living in your own mountain oasis in this Palmer Lake home. Imagine waking each morning to a herd of deer wandering through the open pasture beyond your yard, with sweeping Front Range views in the distance. Set on a spacious 0.86-acre lot, this home blends the charm of Palmer Lake living with the comfort of modern construction. The thoughtfully designed ranch floor plan offers the ease of main-level living with the primary suite & laundry on the main floor. A finished walk-out basement with kitchenette expands the home’s possibilities with generous space for guests, entertaining, or multi-generational living. 3 separate zones for heating & cooling provides customizable comfort & lower utility bills. Take in the views toward town from the covered front porch, where you can spot the historic Palmer Lake Star during the holidays & the Fourth of July fireworks. Step inside to soaring vaulted ceilings & an inviting, light-filled living space. The room just off the entry offers incredible flexibility & could be used for a formal dining room, sitting room, library, or listening lounge. The kitchen features hardwood floors, granite countertops, crisp white cabinetry, & plenty of eat-in dining space. Upstairs, a cozy loft filled with natural light makes a perfect hobby room, craft space, or playroom. The spacious main-level primary suite includes a spa-like bathroom with walk-in shower & large jetted tub. Two additional bedrooms & a full guest bath complete the main floor. Downstairs, the walk-out basement offers newer LVP flooring, a wood-burning stove, kitchenette with full refrigerator, two generous bedrooms, another bathroom, & a rec room with unfinished space ideal for a workshop and storage. Limitless outdoor recreation—hiking, biking, fishing, kayaking, and more—plus beloved community events throughout the year, life in Palmer Lake is truly something special!

261 Pinecrest Way, Palmer Lake

Start Your Search

The content relating to real estate for sale in this Web site comes in part from the Internet Data eXchange (“IDX”) program of METROLIST, INC., DBA RECOLORADO® Real estate listings held by brokers other than Espi Agency, L.L.C. are marked with the IDX Logo. This information is being provided for the consumers’ personal, non-commercial use and may not be used for any other purpose. All information subject to change and should be independently verified. IDX Terms and Conditions

The real estate listing information and related content displayed on this site is provided exclusively for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. This information and related content is deemed reliable but is not guaranteed accurate by the Pikes Peak REALTOR® Services Corp d/b/a elevateMLS.