127 University DrColorado Springs, CO 80910

Property Details for 127 University Dr

Property size (Sq ft)

3,381 SF

Property type

Residential income properties

Property subtype

Multifamily properties

Description

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.

Location Insight

City

Colorado Springs

County

El Paso

State

Colorado

Latitude

38.8288

Longitude

-104.762

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