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1117 Cree Drive, Colorado Springs, CO, 80915

Image Count: 18

$599,000

  • Highlights
  • Income
  • Fourplex
  • 1117 Cree Drive, Colorado Springs, CO, 80915 listed by Chet Owen Phelps
  • Active
  • MLS#: 5581460
  • View on Map
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Property Description

INVESTMENT OPPORTUNITY | FOURPLEX | CIMARRON HILLS | NEAR PETERSON SFB Don’t miss this income-producing fourplex at 1117 Cree Drive in Colorado Springs’ Cimarron Hills neighborhood. Four large 1-bedroom apartments (~625 sq ft each) offer a simple, in-demand floor plan that rents well to singles, couples, and military-adjacent tenants. Each unit has individually metered gas and electric. The landlord pays water, sewer, trash, and the house electric meter that serves exterior lighting and the on-site coin laundry. Residents get practical extras that hold tenants: plenty of off-street parking in the fenced backyard, motion-activated security lighting, recently poured sidewalks, and a locked ~30 sq ft exterior storage closet for each apartment (some with power). Seller-owned coin-operated laundry (2 washers and 2 dryers) is an additional income stream, not a giveaway amenity. All four units are leased and currently producing income. Every lease has expired and is now month-to-month, so a new owner can keep the existing tenants, reset rents, or re-tenant on their own terms. A bidirectional exterior sewer cleanout in the backyard makes maintenance access straightforward. Location is a working renter’s commute: minutes from Peterson Space Force Base, with convenient access to the Powers Boulevard corridor, Highway 24, Academy Boulevard, shopping, dining, and everyday services. Whether you want a turnkey fourplex for the rent roll, a long-hold east-side asset, or a property you can operate with low utility complexity, this is a clean, understandable four-unit investment. Schedule your showing today.

Property Listed By

Picture of REALTOR Listing Property
  • Chet Owen Phelps
  • 1170-102-917  Call the Agent 
Picture of Office Listing Property
  • Red Dragon Realty, Inc.
  • 4191-008-303  Call the Agent 

Property Details

    General Features

  • Property Type: Fourplex
  • Year Built: 1970
  • County: El Paso
  • School District: Colorado Springs 11
  • List Price: $599,000

    Unit Information

    Beds Baths Parking Rent SqFt
    1 1 $1,000 624
    1 1 $1,000 624
    1 1 $1,000 624
    1 1 $1,000 624
  • Total Units: 4
  • Total Rent: $4,000

    Structure

  • Foundation: Slab
  • Structure: Frame
  • Construction Status: Existing
  • Window Type: Vinyl
  • Fence: Rear
  • Fence: Rear

    Features

  • Heating: Forced Air
  • Cooling: Ceiling Fan
  • Laundry: Coin, Electric Hook-up, Gas Hook-up
  • Appliances: 220v in Kitchen, Cook Top, Disposal, Dryer, Oven, Refrigerator, Self Cleaning Oven, Washer

    Taxes, Utilities, Lot

  • Tax: $2,770
  • Lot Size: 0.20 Acres, 8,500 SqFt
  • Appliances: 220v in Kitchen, Cook Top, Disposal, Dryer, Oven, Refrigerator, Self Cleaning Oven, Washer
  • Laundry: Coin, Electric Hook-up, Gas Hook-up
  • Heating: Forced Air
  • Cooling: Ceiling Fan
  • Existing Water: Assoc/Distr
  • Existing Utilities: Cable Connected, Electricity Connected, Natural Gas Connected
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          1117 Cree Drive, Colorado Springs, CO, 80915

          Image 1 of 18: Front A

          Front A

          Image 2 of 18: Front B

          Front B

          Image 3 of 18: Back A

          Back A

          Image 4 of 18: Back B - Utilities/Meters

          Back B - Utilities/Meters

          Image 5 of 18: Apt 2 - Living Room

          Apt 2 - Living Room

          Image 6 of 18: Apt 2 - Wood-finish flooring with a multi-tone wall design

          Apt 2 - Wood-finish flooring with a multi-tone wall design

          Image 7 of 18: Apt 2- Wood-finish flooring throughout

          Apt 2- Wood-finish flooring throughout

          Image 8 of 18: Apt 2 - Wood-finish flooring with light gray walls, complemented by wood ca

          Apt 2 - Wood-finish flooring with light gray walls, complemented by wood cabinetry and a round ceiling light fixture

          Image 9 of 18: Apt 2 - Vanity with integrated sink, toilet, and tiled flooring

          Apt 2 - Vanity with integrated sink, toilet, and tiled flooring

          Image 10 of 18: Apt 2 - Wood-finish flooring with a ceiling fan light fixture

          Apt 2 - Wood-finish flooring with a ceiling fan light fixture

          Image 11 of 18: Apt 2 - Bedroom

          Apt 2 - Bedroom

          Image 12 of 18: Apt 4 - Living Room

          Apt 4 - Living Room

          Image 13 of 18: Apt 4 - Kitchen space featuring gray cabinetry, a dual basin stainless stee

          Apt 4 - Kitchen space featuring gray cabinetry, a dual basin stainless steel sink, and light countertops

          Image 14 of 18: Apt 4 - Gray cabinetry with silver hardware, full-size black range, stainle

          Apt 4 - Gray cabinetry with silver hardware, full-size black range, stainless steel range hood, mosaic tile backsplash, and light-colored countertop

          Image 15 of 18: Apt 4 - Galley kitchen with square tile flooring, stainless steel sink, lig

          Apt 4 - Galley kitchen with square tile flooring, stainless steel sink, light gray cabinetry, and light-colored countertops

          Image 16 of 18: Apt 4 - Bathroom featuring a bathtub with shower, dark tile surround with m

          Apt 4 - Bathroom featuring a bathtub with shower, dark tile surround with mosaic accent, single vanity with integrated sink, and wood-finish flooring

          Image 17 of 18: Apt 2 - Vanity with integrated sink, chrome faucet, and storage cabinetry

          Apt 2 - Vanity with integrated sink, chrome faucet, and storage cabinetry

          Image 18 of 18: Apt 4 - Wood-finish flooring, ceiling fan with integrated lighting, window

          Apt 4 - Wood-finish flooring, ceiling fan with integrated lighting, window with blinds, and white bi-fold closet doors

          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.