4050 Ruskin WayColorado Springs, CO 80910

Property Details for 4050 Ruskin Way

Year built

1972

Property size (Sq ft)

3,564 SF

Property type

Residential income properties

Property subtype

Multifamily properties

Description

This exceptional 4-unit apartment building, located at 4050 Ruskin Way in Colorado Springs, CO 80910, presents a compelling value-add investment opportunity. The property, built in 1972 and renovated in 2021, boasts a total of 3,564 square feet situated on a 10,500 square foot lot. Each of the two-story building's four units features two bedrooms and one bathroom, complete with off-street parking and a working fireplace. Recent renovations included LVT flooring, fresh paint, and updated cabinets in two of the units. The property benefits from a new roof (installed 2 years prior), minimizing future maintenance expenses. The current NOI is $42,418, yielding a 6.53% cap rate, with a pro-forma NOI of $48,116 and a pro-forma cap rate of 7.40%. The asking price is $650,000, translating to $162,500 per unit and $182.38 per square foot. The property is zoned R5 AO and enjoys a convenient location in a quiet cul-de-sac, close to the Colorado Springs Airport and an Amazon distribution center, ensuring strong rental demand. This property is ideal for an investor seeking immediate income and potential for future appreciation in a thriving Colorado Springs market. The property's strong fundamentals, recent renovations, and prime location make it a highly attractive investment.

Location Insight

City

Colorado Springs

County

El Paso

State

Colorado

Latitude

38.8261

Longitude

-104.753

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