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$1,990,000

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Multifamily

9,333 Sq. Ft.

277 Days on market

2880824 MLS ID

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About not provided multi-family property

Cushman & Wakefield is pleased to present University Drive Apartments. This opportunity consists of (3) identically constructed quadruplexes in Colorado Springs, CO. This opportunity is primed for an investor looking to benefit from solid in-place returns as well as reap the reward of continuing to increase rents to market level. University Drive Apartments are an exciting opportunity comprised of 12 units located in the Southeast submarket of Colorado Springs, CO. The property offers ten spacious, 2-bedroom, 1-bathroom apartments and two 1-bedroom, 1-bathroom units with recent renovations. The property benefits from its close-proximity to several employers including Amazon, Wal-Mart, Starbucks, Lowes, big-box retailers and various Dining Facilities. Additionally, the propertys adjacency to nearby parks and suburban neighborhoods such as Valley Hi Golf Course, Wagner Park and Leon Young Sports Complex allow new coming residents to feel right at home. University Drive Apartments are perfectly positioned to capitalize on the limited supply and high rental demand in the Colorado Springs market. The attractiveness of this asset is magnified by upside in continued exterior improvements and the appreciation from future developments planned in the area. University Drive Apartments stands as an enticing opportunity to join the growing real estate market in Colorado Springs, CO.
Cushman & Wakefield is pleased to present University Drive Apartments. This opportunity consists of (3) identically constructed quadruplexes in Colorado Springs, CO. This opportunity is primed for an investor looking to benefit from solid in-place returns as well as reap the reward of continuing to increase rents to market level. University Drive Apartments are an exciting opportunity comprised of 12 units located in the Southeast submarket of Colorado Springs, CO. The property offers ten spacious, 2-bedroom, 1-bathroom apartments and two 1-bedroom, 1-bathroom units with recent renovations. The property benefits from its close-proximity to several employers including Amazon, Wal-Mart, Starbucks, Lowes, big-box retailers and various Dining Facilities. Additionally, the propertys adjacency to nearby parks and suburban neighborhoods such as Valley Hi Golf Course, Wagner Park and Leon Young Sports Complex allow new coming residents to feel right at home. University Drive Apartments are perfectly positioned to capitalize on the limited supply and high rental demand in the Colorado Springs market. The attractiveness of this asset is magnified by upside in continued exterior improvements and the appreciation from future developments planned in the area. University Drive Apartments stands as an enticing opportunity to join the growing real estate market in Colorado Springs, CO.

Property details

Building

Above Grade Finished Area: 9333

Architectural Style: "Ranch"

Building Area Total: 9333

Construction Materials: "Brick/Brick Veneer", "Concrete"

Total Sq Ft: 9333

Living Area: 9333

Living Area Units: Square Feet

Stories: 1

Year Built: 1969

Bathrooms

Bathrooms Total Integer: 12

Baths Full Additional: 0

Baths Full Basement: 0

Baths Half Additional: 0

Baths Half Basement: 0

Baths Three Quarters Additional: 0

Baths Three Quarters Basement: 0

Baths Three Quarters Lower: 0

Baths Three Quarters Upper: 0

Bedrooms

Bedrooms Total: 22

Location

City: Colorado Springs

Country: US

County Or Parish: El Paso

Locale: Colorado Springs

Latitude: 38.831272

Longitude: -104.762306

MLS Area Major: Out of Area

Postal Code: 80910

State Or Province: CO

Street Name: University

Street Number: 21

Street Suffix: Dr

Subdivision Name: Colorado Springs

Unparsed Address: 21 University Dr Colorado Springs CO 80910

Garage

Covered Spaces: 24

Garage Spaces: 24

Garage YN: t

Garage Type: Off Street

Schools

Elementary School: Monroe

High School: Doherty

High School District: Colorado Springs 11

Middle Or Junior School: Holmes

Heating

Heating: "Forced Air"

Heating YN: t

Unit One

Bedrooms Unit 1: 2

Est Sq Ft Unit 1: 778

Rent Unit 1: $1,263

Unit Two

Bedrooms Unit 2: 1

Est Sq Ft Unit 2: 650

Rent Unit 2: $1,187

Property

Crops: None

Property Condition: "Not New, Previously Owned"

Property Sub Type: Income Property

Property Type: Residential Income

Taxes

Has Metro Tax District: No

Tax Annual Amount: 1431

Tax Year: 2022

Water Features

Has Water Rights: No

Listing

Price Per Sq Ft: 213.22

Listing Id: 2880824

Listing Terms: "Cash", "Conventional"

List Price: 1990000

Mls Status: Active

Number Of Units Total: 4

Special Listing Conditions: "Private Owner"

Standard Status: Active

Lot

Lot Size Units: Square Feet

Monthly cost

Estimated monthly cost

$12,267/mo

All calculations are estimates and provided for informational purposes only. Actual amounts may vary.

Seller fees & commissions

Home sale price

$

Outstanding mortgage

$

Selling with traditional agent

Selling with Unreal Estate agent

Your total sale proceeds$1,870,600

+$59,700

$1,930,300

Seller agent commission$59,700 (3%)*

$0 (0%)

Buyer agent commission$59,700 (3%)*

$59,700 (3%)*

*Commissions are based on national averages and not intended to represent actual commissions of this property

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State

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  • Real Estate for Sale in Colorado

Unreal Estate checked: Apr 29, 2024 at 8:42 a.m.

Data updated: Jul 27, 2023 at 8:45 p.m.

Courtesy of Nic Polaski, Cushman & Wakefield Nic.Polaski@cushwake.com,719-238-9074
This content last updated on 07/27/2023. Some properties which appear for sale on this web site may subsequently have sold or may no longer be available.
Provided for limited non-commercial use only under IRES Rules. Listing information 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. Information deemed reliable but not guaranteed by the MLS.
Information source: Information and Real Estate Services, LLC. Provided for limited non-commercial use only under IRES Rules © IRES 2024. All Rights Reserved.

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