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1820 Monterey Rd
Colorado Springs, CO 80910
Multifamily Property For Sale
·
4 Units
Investment Highlights
- Townhome-Style Floor Plans - Townhome-style units with front and rear entrances provide enhanced privacy and livability.
- Strong Tenant Demand Location - Situated in Southeast Colorado Springs with convenient access to major employment centers, retail/grocery.
- Value-Add Rent Upside - Current rents offer a clear path to growth through market adjustments and operational efficiencies.
- In-Unit Washer & Dryer - Dedicated in-unit laundry is a highly desirable amenity that drives tenant demand and supports premium rental rates.
- Off-Street Parking- On-site parking improves tenant convenience and increases overall property desirability.
Executive Summary
Cushman & Wakefield is pleased to present 1820 Monterey Rd, a well-located multifamily investment opportunity in Southeast Colorado Springs. The property sits within an established residential neighborhood with convenient access to major thoroughfares like S Academy and I-25. 1820 Monterey Rd is located nearby employment such as Amazon Distribution & Innovation Park, and convenient access to retail & groceries, making it attractive to long-term renters.
The asset is comprised of townhome-style units featuring both front and rear entrances, offering added privacy and functionality. Each unit includes a desirable 2-bedroom, 1.5-bath layout, and gas and electric utilities are individually metered, allowing ownership to minimize operating expenses and efficiently manage utility costs.
The property has maintained solid occupancy and presents a clear value-add opportunity through rent growth to market levels and value add implementation. Additional features such as off-street parking and recent exterior improvements further enhance tenant convenience and overall property appeal, positioning 1820 Monterey Rd as a stable asset with long-term upside.
The asset is comprised of townhome-style units featuring both front and rear entrances, offering added privacy and functionality. Each unit includes a desirable 2-bedroom, 1.5-bath layout, and gas and electric utilities are individually metered, allowing ownership to minimize operating expenses and efficiently manage utility costs.
The property has maintained solid occupancy and presents a clear value-add opportunity through rent growth to market levels and value add implementation. Additional features such as off-street parking and recent exterior improvements further enhance tenant convenience and overall property appeal, positioning 1820 Monterey Rd as a stable asset with long-term upside.
Property Facts
| Price Per Unit | $158,750 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.25 AC |
| Cap Rate | 6.15% | Building Size | 4,016 SF |
| Sale Condition | 1031 Exchange | Average Occupancy | 100% |
| No. Units | 4 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1984 |
| Property Subtype | Apartment | Parking Ratio | 1.49/1,000 SF |
| Apartment Style | Garden | ||
| Zoning | R-5 | ||
| Price Per Unit | $158,750 |
| Sale Type | Investment |
| Cap Rate | 6.15% |
| Sale Condition | 1031 Exchange |
| No. Units | 4 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 0.25 AC |
| Building Size | 4,016 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1984 |
| Parking Ratio | 1.49/1,000 SF |
| Zoning | R-5 |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+2 | 4 | - | 1,004 |
Property Taxes
| Parcel Number | 64272-11-029 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $45,420 |
Property Taxes
Parcel Number
64272-11-029
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$45,420
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