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1415 S Corona Ave
Colorado Springs, CO 80905
Multifamily Property For Sale
·
10 Units
Investment Highlights
- Located 0.5 Miles from the Newly Developed Colorado Creekwalk & Downtown COS
- On-Site Coin-Op Laundry and Off-Street Parking
- Recent Capital Improvements with Unit Renovations
Executive Summary
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.
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.
Property Facts
| Price Per Unit | $137,500 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.44 AC |
| Cap Rate | 7.23% | Building Size | 7,920 SF |
| No. Units | 10 | Average Occupancy | 100% |
| Property Type | Multifamily | No. Stories | 2 |
| Property Subtype | Apartment | Year Built/Renovated | 1962/2024 |
| Apartment Style | Low-Rise | Parking Ratio | 2.02/1,000 SF |
| Zoning | C5 | ||
| Price Per Unit | $137,500 |
| Sale Type | Investment |
| Cap Rate | 7.23% |
| No. Units | 10 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.44 AC |
| Building Size | 7,920 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built/Renovated | 1962/2024 |
| Parking Ratio | 2.02/1,000 SF |
| Zoning | C5 |
Amenities
Unit Amenities
- Dishwasher
- Microwave
- Ceiling Fans
- Refrigerator
- Range
- Tub/Shower
- Vinyl Flooring
- Quartz Countertops
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 6 | - | 770 |
| 2+1 | 4 | - | 825 |
Property Taxes
| Parcel Number | 64194-10-002 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $103,690 |
Property Taxes
Parcel Number
64194-10-002
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$103,690
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