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2350 Split Rock Dr 4 Unit Apartment Building $875,000 ($218,750/Unit) Colorado Springs, CO 80919
Investment Highlights
- Long term attentive owner with significant pride of ownership.
- Flexible leases with an opportunity to increase rents and bill back utilities as leases turn.
- Great opportunity for an owner occupant with fully renovated unit and oversized shed available to move in immediately.
- Desirable northwest Colorado Springs location.
- Rare townhome style 2 bed, 1.5 bath units with individual gas and electric and in-unit washers and dryers.
Executive Summary
2350 Split Rock Drive presents an attractive opportunity to acquire a townhome style four-unit multifamily property totaling 3,904 square feet in one of the most desirable & established rental markets within the Colorado Springs submarket. Built in 1984, the property offers investors an efficient, manageable asset with four residential units each offering 2BD and 1.5BA nearing 1000SF each with six surface parking spaces. Each unit features front & rear entrance, in unit washer & dryer hookups and spacious bedrooms with large closets.
Located in the 80919 area, the property benefits from a desirable residential setting with convenient access to major roadways, employment centers, retail, dining, recreation, and other everyday amenities. The surrounding area includes established residential neighborhoods and is positioned near the outdoor attractions that contribute to the appeal of northwest Colorado Springs.
Colorado Springs continues to benefit from a diversified economy supported by defense, aerospace, healthcare, technology, education, and other major employment sectors. The property’s combination of a limited four-unit scale, dedicated parking, established construction, and location within a strong Colorado Springs rental market makes 2350 Split Rock Drive an appealing opportunity for investors seeking stable multifamily exposure with potential for long-term income growth and appreciation.
Located in the 80919 area, the property benefits from a desirable residential setting with convenient access to major roadways, employment centers, retail, dining, recreation, and other everyday amenities. The surrounding area includes established residential neighborhoods and is positioned near the outdoor attractions that contribute to the appeal of northwest Colorado Springs.
Colorado Springs continues to benefit from a diversified economy supported by defense, aerospace, healthcare, technology, education, and other major employment sectors. The property’s combination of a limited four-unit scale, dedicated parking, established construction, and location within a strong Colorado Springs rental market makes 2350 Split Rock Drive an appealing opportunity for investors seeking stable multifamily exposure with potential for long-term income growth and appreciation.
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- Offering Memorandum
Property Facts
| Price | $875,000 | Lot Size | 0.23 AC |
| Price Per Unit | $218,750 | Building Size | 3,578 SF |
| Sale Type | Investment | Average Occupancy | 100% |
| No. Units | 4 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1984 |
| Property Subtype | Apartment | Parking Ratio | 1.4/1,000 SF |
| Building Class | C | ||
| Zoning | R5/CR HS | ||
| Price | $875,000 |
| Price Per Unit | $218,750 |
| Sale Type | Investment |
| No. Units | 4 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Building Class | C |
| Lot Size | 0.23 AC |
| Building Size | 3,578 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1984 |
| Parking Ratio | 1.4/1,000 SF |
| Zoning | R5/CR HS |
Amenities
Unit Amenities
- Balcony
- Dishwasher
- Fireplace
- Washer/Dryer
- Washer/Dryer Hookup
- Heating
- Ceiling Fans
- Kitchen
- Hardwood Floors
- Refrigerator
- Oven
- Range
- Tub/Shower
- Carpet
- Yard
- Family Room
- Handrails
- Lawn
- Patio
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1.5 | 4 | - | 976 |
1 1
Somewhat walkable
20/100
Very drivable
80/100
Fairly bikeable
50/100
Property Taxes
| Parcel Number | 73104-05-010 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $54,910 |
Property Taxes
Parcel Number
73104-05-010
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$54,910
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