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Van & Co Apartments 1215 N Nevada Ave 22 Unit Apartment Building $3,500,000 ($159,091/Unit) Colorado Springs, CO 80903
INVESTMENT HIGHLIGHTS
- Big upside to increase rents as property is within walking distance of Colorado College, Penrose Hospital and downtown Colorado Springs
- Very well maintained inside and out.
EXECUTIVE SUMMARY
Pride of ownership shines throughout this charming Victorian apartment complex, ideally situated in the heart of Colorado Springs’ Historic Old North End. The property features three buildings plus an alley-accessible gravel parking lot, offering both character and functionality.
Building #1213 includes 8 units: a mix of one efficiency unit, five one-bedroom units, and two 1+ bedroom units.
Building #1215 features 13 units, consisting of one two-bedroom unit, three efficiency units, six one-bedroom units, and three 1+ bedroom units. One of these units is currently utilized as an office.
Building #1215 ½ is a standalone three-bedroom cottage, adding unique charm and variety to the property.
Each unit is equipped with a refrigerator, gas stove, and mini blinds. The property boasts excellent rental history, with many long-term tenants and steady occupancy.
Financial information available upon request.
Building #1213 includes 8 units: a mix of one efficiency unit, five one-bedroom units, and two 1+ bedroom units.
Building #1215 features 13 units, consisting of one two-bedroom unit, three efficiency units, six one-bedroom units, and three 1+ bedroom units. One of these units is currently utilized as an office.
Building #1215 ½ is a standalone three-bedroom cottage, adding unique charm and variety to the property.
Each unit is equipped with a refrigerator, gas stove, and mini blinds. The property boasts excellent rental history, with many long-term tenants and steady occupancy.
Financial information available upon request.
PROPERTY FACTS
| Price | $3,500,000 | Apartment Style | Low-Rise |
| Price Per Unit | $159,091 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.22 AC |
| Sale Condition | 1031 Exchange | Building Size | 15,145 SF |
| Gross Rent Multiplier | 14 | Average Occupancy | 77% |
| No. Units | 22 | No. Stories | 3 |
| Property Type | Multifamily | Year Built | 1910 |
| Property Subtype | Apartment | Parking Ratio | 0.66/1,000 SF |
| Zoning | R5 HP | ||
| Price | $3,500,000 |
| Price Per Unit | $159,091 |
| Sale Type | Investment |
| Sale Condition | 1031 Exchange |
| Gross Rent Multiplier | 14 |
| No. Units | 22 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.22 AC |
| Building Size | 15,145 SF |
| Average Occupancy | 77% |
| No. Stories | 3 |
| Year Built | 1910 |
| Parking Ratio | 0.66/1,000 SF |
| Zoning | R5 HP |
AMENITIES
UNIT AMENITIES
- Heating
- Kitchen
- Range
SITE AMENITIES
- Laundry Facilities
- Walk To Campus
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 2+1 | 2 | - | 700 - 1,000 |
| Studios | 4 | - | 950 |
| 1+1 | 15 | - | 416 - 700 |
| 3+1 | 1 | - | 844 |
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Bike Score®
Very Bikeable (89)
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Van & Co Apartments | 1215 N Nevada Ave
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