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1512/1518 S Corona Avenue, Colorado Springs, CO, 80905

Image Count: 42

$2,175,000

  • Highlights
  • Income
  • Aptmts
  • 1512/1518 S Corona Avenue, Colorado Springs, CO, 80905 listed by Aaron Moore
  • Active
  • MLS#: 6028994
  • View on Map
Space maker

Property Description

presents a rare opportunity to acquire a 14-unit stabilized multifamily asset in Colorado Springs, Colorado. This turnkey investment delivers immediate cash flow with institutional-quality operating performance, supported by a proven rent roll and exceptionally low expense structure. The property is fully occupied with 14 leased one-bedroom/one-bath units (420–450 SF). Trailing twelve-month financials reflect an attractive 8.8% in-place cap rate with an operating expense ratio of only 16%. All major capital improvements have been completed within the last 24 months, including new appliances, flooring, windows, doors, electrical upgrades (2025), and roof replacement on the 1518 building (2024). A RUB utility reimbursement system further enhances NOI stability and offsets operating costs. Located in one of Colorado’s fastest-growing markets, Colorado Springs benefits from a diverse employment base anchored by military and defense installations including Fort Carson, Peterson Space Force Base, and Schriever Space Force Base.

Property Listed By

Picture of REALTOR Listing Property
  • Aaron Moore
  • 1888-782-917  Call the Agent 
Picture of Office Listing Property
  • Better Homes and Gardens Real Estate Kenney & Company
  • 5151-055-917  Call the Agent 

Property Details

    General Features

  • Property Type: Aptmts
  • Year Built: 1954
  • County: El Paso
  • School District: Harrison-2
  • List Price: $2,175,000

    Unit Information

    Beds Baths Parking Rent SqFt
    1 1 $1,075
  • Total Units: 1
  • Total Rent: $17,965

    Structure

  • Foundation: Crawl Space, Partial Basement
  • Structure: Frame
  • Construction Status: Existing
  • Siding: Brick, Stone
  • Window Type: Fiberglass

    Features

  • Heating: Baseboard, Electric, Forced Air, Natural Gas
  • Laundry: Common
  • Appliances: Dishwasher, Microwave Oven, Oven, Range, Refrigerator

    Taxes, Utilities, Lot

  • Tax: $1,966
  • Lot Size: 0.37 Acres, 16,320 SqFt
  • Appliances: Dishwasher, Microwave Oven, Oven, Range, Refrigerator
  • Laundry: Common
  • Heating: Baseboard, Electric, Forced Air, Natural Gas
  • Existing Water: Municipal
  • Existing Utilities: Cable Available, Electricity Connected, Natural Gas Connected
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          1512/1518 S Corona Avenue, Colorado Springs, CO, 80905

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          Disclaimer: The real estate listing information and related content displayed on this site is provided exclusively for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.