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Colorado Springs,CO 80904
Key Details
Property Type Multi-Family
Sub Type Quadplex
Listing Status Active
Purchase Type For Sale
Square Footage 3,216 sqft
Price per Sqft $217
Subdivision South Colorado City & Calvert Heights
MLS Listing ID 9935893
Style Contemporary
Bedrooms 8
HOA Y/N No
Abv Grd Liv Area 3,216
Originating Board recolorado
Year Built 1973
Annual Tax Amount $2,036
Tax Year 2023
Lot Size 8,712 Sqft
Acres 0.2
Property Description
Great up/down four-plex in a quiet location in South Colorado City right between Downtown Colorado Springs and Manitou Springs. Located a few blocks to a bus stop and with quick access to Highway 24. This fantastic income investment is fully occupied $56,040 current gross revenue in Jan 2025. Limited taxes has helped control operating expenses (est. $14,500, 2024) which would produced a potential Net Operating Income of $41,540 in 2025 and a 5.93% cap rate. The property features nine (9) off-street parking spaces and each unit features laundry, individual gas heat and energy efficient heat pump ("mini-split") heating and cooling. Minutes to downtown Colorado Springs, close to recreation, dining and shopping. Fully leased with established renters. New LVP flooring or new carpet in units, mostly updated bathrooms, kitchen improvements, newer appliances, washers and dryers. Newer furnaces and water heaters. Sewer lines to street replaced 13 years ago, composite roof in good shape, newer interior and exterior paint. Each unit has a storage locker. Plenty of parking on east and west side of building. Quiet community. Nice mountain views, close to nature. All units come with washer and dryer hookups.
Units are occupied. Do not disturb tenants. Tours are not allowed - please review photos. Access to the Property will be provided upon an accepted Contract to Buy and Sell. Exceptions will not be made - if working with a broker, please make sure they read the remarks BEFORE reaching out.
Possession will be subject to any/all tenant leases and any additional tenant's rights. Financials available upon request.
Location
State CO
County El Paso
Zoning R2
Interior
Heating Forced Air,Heat Pump
Cooling Air Conditioning-Room,Other
Fireplace N
Appliance Dishwasher,Range,Refrigerator
Laundry In Unit
Exterior
Fence None
Utilities Available Cable Available,Electricity Connected,Internet Access (Wired),Natural Gas Connected,Phone Connected
View Mountain(s)
Roof Type Composition
Total Parking Spaces 9
Garage No
Building
Foundation Slab
Sewer Public Sewer
Water Public
Level or Stories Two
Structure Type Frame,Stucco
Schools
Elementary Schools Midland
Middle Schools West
High Schools Coronado
School District Colorado Springs 11
Others
Senior Community No
Ownership Corporation/Trust
Acceptable Financing 1031 Exchange,Cash,Conventional,Other
Listing Terms 1031 Exchange,Cash,Conventional,Other
Special Listing Condition None