Aspen Creek Apartments 319-321 E Brookside St Colorado Springs, CO 80905

Exceptional investment opportunity: Aspen Creek Apartments, located at 319-321 E Brookside St, Colorado Springs, CO 80905, presents a compelling multifamily investment. This property comprises 34 units within two, two-story buildings situated on a 0.568-acre lot. Built in 1964, the 16,392 square foot complex features a mix of studio, one-bedroom, and two-bedroom units, offering significant value-add potential. Recent renovations include new vinyl windows, updated bathrooms, fresh paint, and new LVT flooring in many units. Major capital improvements over the past decade encompass new roofs, updated electrical systems, new or repaired high-efficiency boilers, and the installation of solar panels to substantially reduce utility costs. The property boasts surface parking and on-site laundry facilities. Its location in the desirable Stratton Meadows neighborhood, near Broadmoor Towne Center, provides convenient access to major thoroughfares, employers, shopping, and dining. The property is zoned C5 and benefits from master water, sewer, gas, and electric services. This well-maintained property offers a strong tenant base and presents a significant opportunity for increased returns through further cosmetic improvements and optimized property management. The current Net Operating Income (NOI) is $287,994. The asking price is $3,600,000.