1214 N Wahsatch Ave, Colorado Springs, CO, 80903

TWO HOMES INCLUDED! LIVE IN ONE - RENT THE OTHER OR RENT BOTH FOR A STEADY INCOME! Incredible investor or owner-occupant opportunity in the heart of Colorado Springs Old North End. This legally zoned R-2 single family home with cottage features a fully rented main house leased at $3,000/month through June 2027, and a detached 1 bedroom cottage currently rented at $1,740/month through September 2025 or earlier. When the cottage lease ends, the new owner can either continue renting to college students at premium rates-or live in the cottage and let the front unit's $3,000/month rent cover a significant portion of the mortgage. With separate gas, electric, and water meters for each unit, plus tenant-paid utilities and a landlord-billed trash arrangement, this property offers efficient, predictable cash flow. Recent upgrades include new appliances and forced air heating + central A/C in the main house. A detached three-car garage provides alley access and offers future income potential as premium parking or storage rentals. Both units share access to basement laundry and storage. Located just blocks from Colorado College and downtown, this property benefits from steady year-round rental demand and strong tenant retention. With gross annual rents of $56,880, separately metered utilities, and low property taxes (~$1,900/year), this turnkey asset is ideal for long-term hold, 1031 exchange, or live-in investment. Zoned R-2 in a historic district (no HOA), this is a rare chance to own a flexible, high-performing asset in one of Colorado Springs most desirable neighborhoods.