Lake Park Homes under $500,000

Welcome to Lake Park, a hidden gem nestled in the heart of Colorado Springs, Colorado. This charming neighborhood offers a perfect blend of natural beauty, community spirit, and convenient living, making it an ideal place for families, professionals, and retirees alike. With its picturesque lakes and lush parks, Lake Park is designed for those who appreciate the great outdoors. Residents enjoy access to walking trails, picnic areas, and serene spots for fishing, all within a stone's throw from their front doors.

Lake Park boasts a variety of homes under $500,000, making it an attractive option for first-time buyers and those looking to downsize without compromising on quality of life. The architecture here is diverse, featuring everything from cozy single-family homes to modern townhouses, all designed to meet the needs of today’s homeowners. With many properties offering spacious backyards and contemporary finishes, you’ll find the perfect space to create lasting memories.

The community is well-connected, with easy access to major highways and a short drive to downtown Colorado Springs, where you can explore a vibrant array of shops, restaurants, and cultural attractions. Families will appreciate the nearby schools and recreational facilities, which cater to all ages.

In Lake Park, you’ll discover a welcoming atmosphere, where neighbors become friends and community events foster a strong sense of belonging. Whether you’re enjoying a weekend at the lake or exploring the stunning views of the Rocky Mountains, Lake Park is a neighborhood that truly feels like home. Come and experience the charm of Lake Park for yourself!

Newest Lake Park Homes under $500,000

$435,000

3 Beds ⋅ 2 Baths ⋅ 1,440 SqFt. ⋅ ACTIVE Status

Welcome home to this beautifully updated 3-bedroom, 2-bathroom property situated on a corner lot near Memorial Park! From the moment you arrive, you’ll love the inviting front porch, perfect for enjoying your morning coffee or relaxing at the end of the day. Inside, you’ll find a fresh, modern feel with new paint, new windows, new gutters and new flooring throughout. The updated kitchen features brand-new appliances, including a dishwasher, stove, microwave, and refrigerator. The basement has a brand new washer/dryer combo making this home truly move-in ready. The home also offers a 1-car garage and a convenient location close to Memorial Park, Downtown, shopping, dining, recreation, and all that Colorado Springs has to offer. With its charming curb appeal, thoughtful updates, and convenient location, this home is ready for its next chapter.

947 E Costilla St, Colorado Springs

Courtesy of Exp Realty LLC. 888-440-2724

$495,000

ACTIVE Status

Three-unit investment property located near Memorial Park is ready for you! "Main House" has 2 bedrooms and 1 bath, "Long House" has 1 bedroom and 1 bathroom, "Cottage" has 1 bedroom and 1 bathroom. All units come with refrigerator, stove, washer, & dryer. Tenants are currently on month-to-month lease.

426 S Hancock Ave, Colorado Springs

Courtesy of Keller Williams Clients Choice Realty. 719-535-0355

$429,900

3 Beds ⋅ 3 Baths ⋅ 2,203 SqFt. ⋅ ACTIVE Status

Main-Level Living, Nicely Updated...Charming 3-Bedroom 2-1/2 Bath Home With A Detached 4-Car Garage, Ideally Located On A Quiet, Tree-Lined Street Just Outside Of Historic Downtown Colorado Springs...Inside, You'll Find Hardwood Floors, High Ceilings, And An Oversized Living Room Featuring A Rustic Stone Fireplace And Elegant French Doors That Open To The Spacious Dining Room... The Bright Kitchen Offers New Granite Countertops, A Gas Range, Updated Stainless Steel Appliances, Timeless Tile Accents, And Luxury Vinyl Flooring...The Main-Level Bedroom Includes Hardwood Flooring And An Updated Bath With Vintage Charm...Upstairs, The Generous Primary Suite Features Hardwood Floors, Dual Closets, A Private Sitting Area, And An Attached Bath And Shower...An Additional Half Bath And Upper Level Guest Bedroom With Ample Storage Space Complete The Upper Level...Outside, Enjoy Outdoor Living And Relax On The Covered Front Porch Or The 25x17 Private Back Patio, Perfect For A BBQ With Family Or Friends...Additional Highlights Include A Versatile Four-Season Room On The Main Level, Ideal For A Home Office, Study, Or Hobby Space, Efficient Hot-Water Heat, A Basement With Exterior Access, An Enclosed Back Entry, R-2 Zoning, And A Detached 4-Car Garage (28x31) With Easy Alley Access...The Location Is Hard To Beat...Walk To The Neighborhood Coffee Shop Just A Block Away, Or Head To Memorial Park And Lake, Where You'll Find Open Green Spaces, Picnic Areas, Playgrounds, A Paved Trail, Fitness Stations, Fishing, Paddle Boarding, Swimming, And More. Downtown Is Just One Mile Away, Offering Restaurants, Breweries, Shopping, And Entertainment...Centrally Located This Lovely Home Is Full Of Character, With Easy Access To Ft. Carson, Schriever And Peterson Air Force Bases...This Move-In-Ready Home Is A Rare Opportunity You Won't Want To Miss!

1025 E Moreno Ave, Colorado Springs

Courtesy of REMAX PROPERTIES. 719-548-8600

$350,000

4 Beds ⋅ 2 Baths ⋅ 2,160 SqFt. ⋅ ACTIVE UNDER CONTRACT Status

Located right by Memorial Park and Prospect Lake with R2 zoning and over 2,000 sqft, this is one you don’t see come up often in this area. This 4 bed, 2 bath home with a 2 car carport is in a prime location just minutes from the park and lake. Zoned R2 with over 2,000 sqft, which is hard to find in this area where most homes are smaller ranch style properties. The main level features original Douglas Fir hardwood floors and a spacious layout. The kitchen has been updated with newer cabinets, granite countertops, and a huge walk in pantry that still showcases the original woodwork. There is great storage throughout the home with multiple built in areas plus an unfinished basement for even more space. Washer and dryer are located downstairs as well. AC has already been added for comfort. Off the back of the home is a sunroom overlooking a fully fenced yard that offers a good amount of space to enjoy. The 2 car carport is accessed from the alley, making parking easy with plenty of additional room if needed. This home has a unique floorplan, solid square footage, and a location that is hard to beat.

511 S Hancock Ave, Colorado Springs

Courtesy of Pink Realty Inc. 719-888-7465

$349,900

3 Beds ⋅ 2 Baths ⋅ 1,350 SqFt. ⋅ ACTIVE Status

OWNER MOTIVATED, SUBMIT YOUR HIGHEST AND BEST OFFER FOR CONSIDERATION! Welcome to a charming 1928 stucco bungalow in one of central Colorado Springs’ most inviting locations—just one block from Prospect Lake and Memorial Park. Step outside and enjoy easy access to scenic walking, jogging and biking trails, neighborhood green spaces, public transportation and nearby urban amenities. From the welcoming front porch, take in Front Range and Pikes Peak views, or unwind on the spacious backyard patio around the barbecue and fire pit. Inside, this 3-bedroom, 2-full-bath home offers 1,408 square feet of character and comfort, with hard wood floors on the main level, a refreshed kitchen and updated bathrooms. An oversized detached single-car garage with convenient alley access adds valuable room for storage, hobbies or a workshop. Blending timeless Colorado Springs charm with thoughtful updates and an exceptional Prospect Lake setting, this warm and inviting home makes it easy to enjoy both everyday comfort and the best of the neighborhood. Come experience this special location for yourself!

523 S Hancock Ave, Colorado Springs

Courtesy of REMAX PROPERTIES. 719-548-8600

Start Your Search

The real estate listing information and related content displayed on this site is provided exclusively for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. This information and related content is deemed reliable but is not guaranteed accurate by the Pikes Peak REALTOR® Services Corp d/b/a elevateMLS.