113 Old Crystal Park Rd - Apartments FOR SALE


Manitou Springs, CO 80829
$1,095,000 USD
417-459-2155
113 Old Crystal Park Rd, Manitou Springs, CO for Sale
$1,095,000 USD
Apartments - FOR SALE
1/12
null | 6.25% Cap Rate

113 Old Crystal Park Rd
Manitou Springs, CO 80829


HIGHLIGHTS

  • PRIME MANITOU SPRINGS LOCATION
  • UTILITY REIMBURSEMENT VIA RUBS
  • IMMEDIATE UPSIDE IN RENTS
  • INCOME FROM STORAGE SHEDS
  • 100% OCCUPANCY
  • SIGNIFICANT RECENT IMPROVEMENTS

OVERVIEW

Cushman & Wakefield is pleased to present The Villages, located at 113 Old Crystal Park Road in the heart of historic Manitou Springs, Colorado. The Villages presents a rare opportunity to acquire a 100% occupied, value-add multifamily asset in one of the most supply-constrained and desirable submarkets in the greater Colorado Springs area. This 7-unit property, consisting of 4 one-bedroom and 3 two-bedroom apartments, is situated blocks from Manitou Springs and with quick access to Old Colorado City and Downtown Colorado Springs. Seller Financing is Available. The property has been meticulously maintained by a long-term owner and existing rents are well below market, presenting an immediate opportunity to capture $150-$250 premiums on the flexible leases. With an average unit size of 586 square feet, the property features full utility reimbursements, on-site laundry, and eight storage sheds, three of which are currently leased. The Villages have been well-maintained with significant ownership improvements over time, The Villages benefits from its unique small-town charm, walkability, and strong tourism economy, making it an ideal location for long-term tenants and an attractive target for real estate investors. As new development in Manitou Springs is highly limited due to geographic and regulatory constraints, this asset offers scarcity value along with reliable occupancy in a market with minimal future multifamily supply.

FOR SALE DETAILS

PRICE

$1,095,000 USD

PRICE/SF

$254 USD /SF

# OF UNITS

7

PRICE/UNIT

$156,429

CAP RATE

6.25%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

113 Old Crystal Park Road

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1945

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.15 AC

LAND SF

6,726 SF

ZONING

GR

APN/PARCEL ID

74044-22-003

ASK ABOUT THIS PROPERTY

Lee WagnerCushman & WakefieldMore Info
417-459-2155

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Lee WagnerCushman & WakefieldMore Info
417-459-2155

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.