Prospect Lake Real Estate

Welcome to Prospect Lake, a hidden gem nestled in the heart of Colorado Springs, Colorado. This charming neighborhood is defined by its stunning natural beauty and a tight-knit community atmosphere, making it an ideal place for families and individuals alike.

Prospect Lake is renowned for its picturesque lake, which serves as a focal point for outdoor enthusiasts. Residents can enjoy a variety of recreational activities, from boating and fishing to leisurely strolls along the scenic walking paths that encircle the water. The surrounding parkland is perfect for picnics, family gatherings, and enjoying the vibrant local wildlife.

One of the standout features of Prospect Lake is its accessibility to the best of Colorado Springs. Just a short drive away, you’ll find an array of shopping, dining, and entertainment options. The neighborhood is also conveniently located near major highways, making it easy to explore the stunning landscapes of the Pikes Peak region and beyond.

Families in Prospect Lake benefit from excellent schools and a strong sense of community. Local events, such as farmers' markets and seasonal festivals, foster connections among neighbors and create a welcoming environment for newcomers.

With its combination of natural beauty, community spirit, and convenient location, Prospect Lake offers a unique lifestyle that captures the essence of Colorado living. Whether you’re looking for a peaceful retreat or an active lifestyle, this enchanting neighborhood has something for everyone. Come discover the charm of Prospect Lake—your new home awaits!

Newest Listings in Prospect Lake

$410,000

4 Beds ⋅ 2 Baths ⋅ 1,644 SqFt. ⋅ ACTIVE Status

Beautifully remodeled ranch-style home featuring 4 bedrooms, 2 bathrooms, and 1,644 finished square feet. Updates include new flooring, new carpet, fresh interior paint, and new kitchen appliances, including the range and refrigerator. The finished basement provides additional living space and flexibility. Situated on an approximately 0.3-acre lot with a terrace patio, this home is conveniently located about 0.3 miles from Memorial Park and its lake, with easy access to outdoor recreation and nearby amenities. Move-in ready and thoughtfully updated throughout.

716 S Sheridan Ave, Colorado Springs

Courtesy of You 1st Realty - Unity. 719-308-4642

$475,000

3 Beds ⋅ 4 Baths ⋅ 3,065 SqFt. ⋅ ACTIVE Status

Beautifully maintained luxury stucco, low maintenance home built in 2000 - offering a modern design, abundant natural light, and exceptional flexibility. With 3,048 finished square feet this home provides immediate luxury and comfort. The open-concept main level is filled with natural light from expansive windows and features a spacious living area centered around a cozy gas fireplace. This home has a separate dining area for larger gatherings. The kitchen is designed for entertaining-complete with tile and granite countertops, arge island with grill, ample custom cabinetry, and a custom made pantry. Enjoy the newer frig, trash compactor, dishwasher, double ovens, and microwave. Dedicated master bedroom suite on the main floor. The oversized primary luxury suite offers a peaceful retreat with 4 closets and two separate, spacious en suite baths. The first bath has a separate shower, jetted tub and upgraded custom cabinetry with designer sink. The second bath comes with a walk in tub, custom cabinetry and designer sink. The master bedroom includes remote control designer blinds, gas log fireplace, in room a/c unit, dimmer lighting and ceiling fan. Home comes fully air conditioned, with washer and dryer in the separate laundry room. This home boasts a three car tandem garage, shelving and storage - with an additional 3 car attached carport. Enjoy outdoor living with a private patio complete with a fire pit and covered pergola, along with convenient sun room access. Located just steps away from Memorial Park Lake-indulge in fishing, boating, kayaking, playgrounds. This home combines comfort, functionality, and an ideal setting for everyday entertainment. Situated in a desirable lake community with easy access to local amenities and annual events. This home is a rare opportunity to own a luxury light-filled property-with income opportunities.

1223 E Rio Grande St, Colorado Springs

Courtesy of Angel Realty, LLC. 303-974-7776

$270,000

2 Beds ⋅ 1 Baths ⋅ 972 SqFt. ⋅ ACTIVE Status

Original hardwood flooring on main level. 2 bedrooms 1-bathroom zoned R2.

728 Prospect Lake Dr, Colorado Springs

Courtesy of RE/MAX Real Estate Group LLC. 719-534-7900

$379,900

ACTIVE Status

**Take advantage of a $5,000 Seller Credit at closing to help reduce your upfront costs or buy down your interest rate!** Rare income opportunity near downtown Colorado Springs! This ranch bungalow features two separate living spaces, including a full apartment in the lower level with a great rental history. Rent both units, house hack by living in one and renting the other, or accommodate extended family while keeping income flexibility. The main-level unit offers two bedrooms, a three-quarter bath, a bright living room with a charming window seat, a dining area, and a kitchen with stainless steel appliances and ample cabinet space. A covered front porch adds curb appeal and tenant appeal. The lower-level apartment has its own separate entrance, a bedroom, a bathroom, and a kitchenette, giving occupants of both units privacy and independence. Investors will appreciate the low-maintenance stucco exterior and the desirable R-2 zoning. Alley access, abundant off-street parking, and RV parking reduce parking concerns for multiple households. The fully fenced yard and a separately fenced patio with a hot tub add amenities that help attract and retain quality tenants. Location drives rental demand, and this one delivers. Memorial Park is a short walk away with trails, Prospect Lake, playgrounds, the annual Balloon Festival, and Fourth of July fireworks, while downtown dining, shopping, entertainment, and employment are just minutes away. Whether you're building a portfolio, offsetting your own mortgage, or planning for multi-generational living, this property offers flexibility, income potential, and a central location that's hard to find. Schedule your showing today!

713 S Sheridan Ave, Colorado Springs

Courtesy of The Cutting Edge. 719-999-5067

$379,900

3 Beds ⋅ 2 Baths ⋅ 1,677 SqFt. ⋅ ACTIVE Status

**Take advantage of a $5,000 Seller Credit at closing to help reduce your upfront costs or buy down your interest rate!** Live in one, rent the other! This charming ranch bungalow near downtown Colorado Springs and Memorial Park includes a full apartment in the lower level, offering rental income to help offset today's interest rates or an ideal setup for multi-generational living. The main level welcomes you with a covered front porch and a bright living room that flows into the dining area, complete with a charming window seat and abundant natural light. The kitchen offers stainless steel appliances, ample cabinet space, and a functional layout. Two bedrooms, including the primary, and a three-quarter bath complete the main floor. Downstairs, the private apartment features its own separate entrance, a bedroom, a bathroom, and a kitchenette, giving tenants or extended family true independence and privacy. This low-maintenance stucco home sits on a desirable R-2 lot with alley access, abundant off-street parking, and RV parking. The fully fenced yard offers room to relax, entertain, or expand, while a separately fenced patio with a hot tub creates a private retreat. Stroll to Memorial Park for trails, Prospect Lake, playgrounds, the annual Balloon Festival, and Fourth of July fireworks, with downtown dining, shopping, and entertainment just minutes away. A legal rental apartment, income potential, and an unbeatable central location. Opportunities like this don't come along often. Schedule your showing today!

713 S Sheridan Ave, Colorado Springs

Courtesy of The Cutting Edge. 719-999-5067

$349,999

4 Beds ⋅ 2 Baths ⋅ 2,150 SqFt. ⋅ ACTIVE Status

This Charming bungalow style home in downtown adjacent historic Hillside. Spacious and bright, this home is zoned R2 and can be converted to a duplex or add an ADU out back! Walking distance to downtown, across from Memorial Park and Prospect Lake, this gem is near it all. Step out your front door to experience the Labor Day liftoff and all that the park has to offer, walking distance to the planned redevelopment of the Union Printers home, easy I-25 access, Playgrounds, trails (Shooks Run), coffee shops, revamped Helen Hunt Campus, and more to this charming downtown neighborhood. Original wood floors, new vinyl windows, new central A/C and heat, freshly painted- this charmer is move-in ready. Grab a scooter and explore all this great location has to offer!

726 Prospect Lake Dr, Colorado Springs

Courtesy of RE/MAX Real Estate Group LLC. 719-534-7900

$329,999

2 Beds ⋅ 1 Baths ⋅ 966 SqFt. ⋅ ACTIVE Status

Welcome home! This 2-bed, 1-bath home is a scenic beauty, fully renovated with modern luxury in mind. It is located just minutes away from downtown, parks, restaurants, I-25, and so much more! Step inside to find a beautiful interior featuring custom tile work, Caesarstone quartz countertops, LG stainless steel appliances, a custom breakfast nook, walk-in pantry, and a convenient dry bar; ideal for entertaining guests or simply relaxing with loved ones. This home offers more than just stylish living spaces, it includes a 2-car oversized garage complete with a workshop that provides ample room for storage, hobbies, or projects. Don't miss your chance to call this stunning property home. Schedule a showing today and envision yourself enjoying the modern conveniences this home offers.

1220 E Fountain Blvd, Colorado Springs

Courtesy of Venterra Real Estate LLC. (719) 368-7639

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Prospect Lake Real Estate

Newest Listings in Prospect Lake

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