Apache Court Motel & Apartments is a 16 unit motel that has been used as a furnished apartment and short term rental (STR). The motel license allows it to have the benefit of following limited motel rules versus the increasingly difficult short term rental rules constantly being adopted by the city. Apache Court is located in Old Colorado City (Colorado Springs) near Garden fo the Gods Park and the city of Manitou, two active tourist areas. It is located in Colorado Springs which has a much lower sales tax than Manitou. There are many nearby trails and hiking, and it is an easy walk to many stores including bike rentals, Grocery Store and many other restaurants. Many guests do not bother having a car as the location is an easy bike ride to many attractions. Apache Court Motel was built in 1946 and the historic sign on the corner is part of a local historic tour and is called the "happy Indian". Rare opportunity to own a short-term rental product in highly restricted environment. All units on short leases with opportunity to instantly increase rents/income. Outstanding in place cash flow and cap rate! Fully furnished units.
Property Type(s): Residential Income
|Year Built||1946||County||El Paso|
|School District||Colorado Springs|
|Prior to Jul 14, '20||$1,800,000|
|Jul 14, '20 - Today||$1,695,000|
|APPLIANCES||Countertop System, Microwave Oven, Range Top|
|LOT||10598 sq ft|
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Listed with 00000696-Denver Realtors Group LLC
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