For Sale
$635,000

127 University DrColorado Springs, CO 80910

Colorado Springs multifamily, great ROI.

Overview

Added:
Dec 11, 2024
Days on market:
116
This exceptional investment opportunity presents a four-unit apartment building located at 127 University Drive, Colorado Springs, CO 80910. The property boasts a total of 3,381 square feet situated on an 8,450 square foot lot. Each of the four units features two bedrooms and one bathroom. The building is classified as Class C and is currently generating a Net Operating Income (NOI) of $44,328, representing a 6.98% capitalization rate. Pro-forma NOI is projected at $45,142, yielding a 7.11% capitalization rate. The asking price is $635,000, translating to $187.81 per square foot and $158,750 per unit. The property is situated in a quiet residential neighborhood known for low vacancy rates, offering a new owner the potential to increase rental income to market rates. The building has been well-maintained, and the units are in good condition relative to comparable properties in the area. A significant recent improvement includes a newly replaced roof. This property offers a compelling combination of strong cash flow, potential for appreciation, and a desirable location. The property's financial performance and location make it an attractive investment for both seasoned and new investors seeking a stable and profitable multifamily asset in the Colorado Springs market.

Highlights

  • Four-unit apartment building at 127 University Drive, Colorado Springs, CO 80910.
  • Each unit features two bedrooms and one bathroom.
  • The property is well-maintained with a recently replaced roof.
  • Located in a quiet residential neighborhood with low vacancy rates.

Property Details for 127 University Dr

Property type
Apartment buildings
Square Feet
3,381 SF
Class
C
Units
4

Location Insight

City
Colorado Springs
County
El Paso
State
Colorado
Latitude
38.8287503
Longitude
-104.7623268
127 University Dr, Colorado Springs, Colorado

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127 University Dr
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