The Sonoma Heights Apartments present an exceptional multifamily opportunity in Colorado Springs. Strategically located in the growing and desirable Knob Hill neighborhood, the property is near major city thoroughfares, a bevy of employers, popular malls, chain-grocers and restaurants, big-box shopping, and numerous entertainment options. Totaling 60 units, this asset offers value-add potential, requiring only minor interior cosmetic renovations to achieve top-of-market rents. Consisting of 37 one-bedrooms, and 23 two-bedroom units, Sonoma Heights provides much needed housing to strong tenant bases. The property features surface + off-street parking, well-maintained common areas, and on-site laundry facilities. The units feature double pane windows, new LVT flooring, fresh paint, and updated bathrooms. The asset has also endured major capital improvements over the last 10 years including new windows, new roofs, updated electrical, new/repaired boilers, and new solar panels to greatly help offset utility expenses. Sonoma Heights is a prime candidate for repositioning through cosmetic improvements, improved property management, and operational efficiency. These apartment buildings present an attractive investment opportunity, offering investors substantial potential for outsized returns at a compelling basis. PROPERTY HIGHLIGHTS • Great Unit mix of 37-one beds and 23-two beds • One-bedroom units are spacious: ~695 sq ft • Current rents and occupancy are below market – potential for immediate rental income growth • Located in quiet suburb with a residential feel • New solar panels to offset utility expenses and offer operational efficiency • Major Capital Improvements: Newer double pane windows, roofs, and common area renovations COMMUNITY AMENITIES • On-site laundry • Recently repaved parking lot with ample parking • 24-hour secure access to building • Pet-friendly community UNIT AMENITIES • Clean, well-maintained interior hallways • All units have ceiling fans • Updates include new wood plank, new light fixtures, and new paint • Opportunity for new operator to further renovations • Spacious floor plans with oversized units