1510 Crestone Ave, Colorado Springs, CO 80905

Property Description

One of the most versatile income-producing properties in Colorado Springs with 5 years of strong rental history and multiple ways to make money. This Ivywild triplex has been successfully operated as a short-term, medium-term, and long-term rental—giving you the flexibility to pivot strategies as the market changes. Live in one unit and rent the others, or keep it fully investment-focused. The property features an oversized 2-car garage with a built-in grease pit and attached heated storage space (previously used as a podcast studio), PLUS a separate standalone 1-car garage. Both garage spaces offer additional income potential and can be rented separately. R5 zoning offers future upside with the ability for additional units, like converting the garages into living space. Low property taxes and paid-off solar panels keep operating costs down and more money in your pocket. The upstairs unit is a fully furnished 2 bed/1 bath with a large laundry room & extra storage, currently rented as a medium-term rental. The downstairs unit, a 2 bed/2 bath, features a spacious primary suite with attached bath, a flex space perfect for an office or possible third bedroom, and in-unit laundry. This unit has fresh paint, new carpet, and updated tile in both bathrooms. The unit comes unfurnished and was operated as a long-term rental over the past year, but is now ready for its next tenant or owner. The studio unit comes fully furnished with 2 sleeping areas (including a loft kids love), full-size fridge, and 2-burner cooktop - it has been a proven short-term rental performer. All units are updated with modern finishes and granite countertops. But wait, there’s more! Plenty of parking with 4 spots in the driveway plus 3 additional off-street spaces. Fully fenced backyard features low-maintenance xeriscaping and turf—perfect for keeping things simple and an outdoor space for pets. Turnkey, flexible, and packed with upside—this one checks all the boxes.