Discover a rare blend of charm, space, and investment upside in the vibrant heart of Downtown Colorado Springs. This fully renovated home sits on a generous double lot with coveted R2 zoning—allowing a duplex, ADU (accessory dwelling unit), or multi-family use—making it ideal for owner-occupants, house-hackers, and investors.
Bright, open-concept main level with natural light, updated flooring, and fresh paint throughout. The kitchen features quartz countertops, stainless-steel appliances (gas range, dishwasher, refrigerator), shaker cabinetry, tile backsplash, and a serving buffet—designed for daily living and entertaining. Spacious living and dining areas flow seamlessly for easy gatherings.
The fully finished basement has a private entrance and a complete ADU: living room, full kitchen, bedroom, and modern full bath. Perfect for long-term rental income, short-term guests (check local STR rules), multi-generational living, or home office/guest suite.
Key Features & Lifestyle
• Double lot with expansive yard—gardening, entertaining, or future development (subject to zoning).
• R2 zoning = flexibility for duplex conversion, ADU, or additional units—rare downtown.
• Prime Downtown Colorado Springs location: walk/bike to restaurants, breweries, shopping, parks, trails, CC, and the Pikes Peak Greenway. Quick access to I-25, Old Colorado City, and Memorial Park.
• Updated systems, modern finishes, and move-in ready condition.
Whether you’re seeking a primary residence with income potential, a turnkey house-hack, or a long-term investment, this renovated downtown home delivers lifestyle + cash flow in one of Colorado’s most desirable urban neighborhoods.
Property Summary: Located in the Hillside subdivision, 421 S Prospect Street is a Single Family home for sale in Colorado Springs, CO 80903, listed at $532,000. Current listing information about 421 S Prospect Street indicates the property features, 3 beds, 2 baths, and has approximately 1,540 square feet of living space, with a lot size of 0.18 acres, and was originally constructed in 1910. The current price per square foot is $345. The average price per square foot for properties in 80903 is $354. The average list prices for similar properties for sale is $501,995. To schedule a private showing of MLS# 2834134 at 421 S Prospect Street in Hillside, contact your Colorado Springs real estate team at 719-338-7294.
