1415 S Corona Ave - Apartments FOR SALE


Colorado Springs, CO 80905- Stratton Meadows
$1,600,000 USD
417-459-2155
1415 S Corona Ave, Colorado Springs, CO for Sale
$1,600,000 USD
Apartments - FOR SALE
1/22
null | 6.22% Cap Rate

1415 S Corona Ave
Colorado Springs, CO 80905
Stratton Meadows


HIGHLIGHTS

  • Located 0.5 Miles from the Newly Developed Colorado Creekwalk & Downtown COS
  • Recent Capital Improvements with Unit Renovations
  • On-Site Coin-Op Laundry and Off-Street Parking

OVERVIEW

Cushman & Wakefield is pleased to present 1415 S Corona Avenue, a 10-unit investment property located in the heart of Colorado Springs. 1415 S Corona Ave is a well-maintained, fully renovated multi-family property consisting of 10 units. Recent upgrades throughout the property ensure a modern, low-maintenance environment for residents, and provide strong potential for future rent increases and long-term appreciation. This property is a prime example of a thoughtfully updated residential asset with modern amenities and high tenant satisfaction. Currently, the building is fully occupied, offering immediate rental income potential and minimal turnover risk for prospective investors. The property’s proximity near Hwy 25 & Downtown Colorado Springs provides easy access to major transportation and nearby amenities, including upscale dining such as Prime 25, retail shops like Lululemon, Verda Spa, and two major grocery stores including the newly constructed Sprouts Farmers Market. Providing convenient access to local amenities, schools, and transportation routes. This location is highly attractive to both tenants and investors. Additionally, with nine of the ten units currently leased, the property demonstrates strong demand and high tenant retention. The property’s low vacancy rate and recent improvements make it a stable, income-producing asset with opportunities for future value-add enhancements, including increasing rents in line with the market.

FOR SALE DETAILS

PRICE

$1,600,000 USD

PRICE/SF

$202 USD /SF

# OF UNITS

10

PRICE/UNIT

$160,000

CAP RATE

6.22%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1962

PARKING SPACES

16

LAND DETAILS

LAND ACRES

0.44 AC

LAND SF

19,166 SF

ZONING

C5

APN/PARCEL ID

64194-10-002

ASK ABOUT THIS PROPERTY

Lee WagnerCushman & WakefieldMore Info
417-459-2155

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

Lee WagnerCushman & WakefieldMore Info
417-459-2155

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