3620-3626 W Colorado Ave - Apartments FOR SALE


Colorado Springs, CO 80904- West Colorado Springs
$3,350,000 USD
720-939-2943
3620-3626 W Colorado Ave, Colorado Springs, CO for Sale
$3,350,000 USD
Apartments - FOR SALE
1/19
null | 6.83% Cap Rate

3620-3626 W Colorado Ave
Colorado Springs, CO 80904
West Colorado Springs


HIGHLIGHTS

  • Opportunity to purchase at 6.59% capitalization rate, based on the sellers T12 financial statement
  • Property can be operated as traditional apartment building (current use), short-term rental/hospitality use or combination of the two
  • Irreplaceable location just 1.5 miles to Garden of the Gods and Downtown Manitou Springs
  • Newer roof and significant updates completed by current ownership
  • Separate laundry facilities on premises

OVERVIEW

3620-3626 W Colorado Ave., also known as the High Country Lodge, is a 28-unit multifamily asset located in Old Colorado City, at the entrance to the coveted town of Manitou Springs. This charming property offers tenants stunning mountain views, excellent access to trails and also all that the communities of Old Colorado City and Manitou Springs have to offer. The High Country Lodge sits on a 38,352 SF lot offering investors the additional appeal of re-development in this growing community. As it stands, the property is 100% occupied and cash flows at a 6.83% Cap rate at the asking price of $3,350,000.

FOR SALE DETAILS

PRICE

$3,350,000 USD

PRICE/SF

$238 USD /SF

# OF UNITS

28

PRICE/UNIT

$119,643

CAP RATE

6.83%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Garden

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1922

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.58 AC

LAND SF

25,265 SF

ZONING

C5 R5 HS

APN/PARCEL ID

74033-23-014

ASK ABOUT THIS PROPERTY

Joe HornsteinNorthPeak Commercial AdvisorsMore Info
720-939-2943

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Joe HornsteinNorthPeak Commercial AdvisorsMore Info
720-939-2943

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