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624 N Weber St 7 Unit Apartment Building $895,000 ($127,857/Unit) 6.03% Cap Rate Colorado Springs, CO 80903
INVESTMENT HIGHLIGHTS
- Priced well below comps
- Walking distance to Colorado College and Ed Robson Arena
- Central Colorado Springs location
- Upside potential adding washer/dryer to building
EXECUTIVE SUMMARY
624 N Weber St. is a 7-unit apartment building located in downtown Colorado Springs, CO, just blocks from Colorado College campus and hundreds of downtown restaurants, shops and local businesses.
The building offers classic Victorian appeal with unique charm and architecture that appeals to tenants seeking character-rich homes in a central, vibrant location.
624 Weber is brought to market with 100% occupancy. The property offers a variety of units, which are turned with vinyl flooring, new paint and various updates to kitchens and baths. Units rent quickly and the property offers investors a robust revenue stream in a first class location.
The 600 block of North Weber in Colorado Springs is a central location that is merely steps to Colorado College and CC hockey games at the new Ed Robson Arena. Investors have the opportunity to add value to this classic, well located asset while enjoying cash flow from day one.
The building offers classic Victorian appeal with unique charm and architecture that appeals to tenants seeking character-rich homes in a central, vibrant location.
624 Weber is brought to market with 100% occupancy. The property offers a variety of units, which are turned with vinyl flooring, new paint and various updates to kitchens and baths. Units rent quickly and the property offers investors a robust revenue stream in a first class location.
The 600 block of North Weber in Colorado Springs is a central location that is merely steps to Colorado College and CC hockey games at the new Ed Robson Arena. Investors have the opportunity to add value to this classic, well located asset while enjoying cash flow from day one.
PROPERTY FACTS
| Price | $895,000 | Building Class | C |
| Price Per Unit | $127,857 | Lot Size | 0.22 AC |
| Sale Type | Investment | Building Size | 2,914 SF |
| Cap Rate | 6.03% | Average Occupancy | 100% |
| No. Units | 7 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1888 |
| Property Subtype | Apartment | Parking Ratio | 1.37/1,000 SF |
| Apartment Style | Low-Rise | ||
| Zoning | R5, Colorado Springs | ||
| Price | $895,000 |
| Price Per Unit | $127,857 |
| Sale Type | Investment |
| Cap Rate | 6.03% |
| No. Units | 7 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.22 AC |
| Building Size | 2,914 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1888 |
| Parking Ratio | 1.37/1,000 SF |
| Zoning | R5, Colorado Springs |
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| Studios | 3 | - | 300 |
| 1+1 | 4 | - | 400 - 483 |
1 1
Walk Score®
Walker's Paradise (92)
Bike Score®
Biker's Paradise (98)
PROPERTY TAXES
| Parcel Number | 64074-16-010 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $55,830 |
PROPERTY TAXES
Parcel Number
64074-16-010
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$55,830
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624 N Weber St
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