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1518 N Wahsatch 1518 N Wahsatch Ave 7 Unit Apartment Building $1,050,000 ($150,000/Unit) 6.20% Cap Rate Colorado Springs, CO 80907
Investment Highlights
- Prime Central Location
- Walkability & Connectivity
- Value-Add & Growth Potential
- Strong Rental Demand
- Differentiated Legacy Asset With Long Term Attentive Owner
Executive Summary
1518 N Wahsatch Avenue is a centrally located multifamily investment opportunity positioned within the highly desirable Old North End. The property benefits from strong renter demand driven by its proximity to Downtown Colorado Springs, Colorado College, major employment centers, and recreational amenities throughout the urban core. The surrounding neighborhood offers a blend of historic charm, walkability, and access to dining, retail, and outdoor recreation that continues to attract young professionals, students, military-affiliated tenants, and long-term residents. The area has experienced ongoing residential and mixed-use investment activity as population growth and housing demand continue to support rental fundamentals across the city.
This 7-unit property features a desirable unit mix of (5) two-bed and (2) one-bed units. This is a rare downtown asset on a large 16,000 SF lot with off-street parking and additional garage spaces for tenants. The property has been self-managed for over 30+ years and presents operational upside through recapturing $150+ rental premiums on the flexible month-to-month leases day one.
This 7-unit property features a desirable unit mix of (5) two-bed and (2) one-bed units. This is a rare downtown asset on a large 16,000 SF lot with off-street parking and additional garage spaces for tenants. The property has been self-managed for over 30+ years and presents operational upside through recapturing $150+ rental premiums on the flexible month-to-month leases day one.
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- Offering Memorandum
Property Facts
| Price | $1,050,000 | Apartment Style | Low-Rise |
| Price Per Unit | $150,000 | Building Class | B |
| Sale Type | Investment | Lot Size | 0.47 AC |
| Cap Rate | 6.20% | Building Size | 5,700 SF |
| No. Units | 7 | No. Stories | 3 |
| Property Type | Multifamily | Year Built | 1899 |
| Property Subtype | Apartment | Parking Ratio | 2.46/1,000 SF |
| Zoning | R-4 | ||
| Price | $1,050,000 |
| Price Per Unit | $150,000 |
| Sale Type | Investment |
| Cap Rate | 6.20% |
| No. Units | 7 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | B |
| Lot Size | 0.47 AC |
| Building Size | 5,700 SF |
| No. Stories | 3 |
| Year Built | 1899 |
| Parking Ratio | 2.46/1,000 SF |
| Zoning | R-4 |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 2 | - | 650 |
| 2+1 | 5 | - | 880 |
1 1
Fairly walkable
50/100
Exceptionally drivable
100/100
Limited public transit
30/100
Very bikeable
80/100
Property Taxes
| Parcel Number | 64064-21-011 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $67,430 |
Property Taxes
Parcel Number
64064-21-011
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$67,430
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1518 N Wahsatch | 1518 N Wahsatch Ave
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