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24467909
24467917

1415 S Corona Ave, Colorado Springs, CO 80905

LW
CO CO 100084704
Cushman & Wakefield - Denver, Colorado
NP
CO FA. 100099164, CO FA.100099164
Cushman & Wakefield - Denver, Colorado
Listed by Cushman & Wakefield - Denver, Colorado
$1,375,000
342 days on market
Updated 46 days ago

1415 S Corona Ave, Colorado Springs, CO

Details
Property Type Multifamily
Sub Type Apartment Building
Square Footage 7,920
Net Rentable (SqFt) 7,920
Units 10
Cap Rate 7.23%
NOI $99,454
Occupancy 100%
Pro-Forma Cap Rate 7.39%
Pro-Forma NOI $101,654
Price per SqFt $174
Class B
Year Built 1962
Year Renovated 2024
Buildings 1
Stories 2
Acreage 0.440
Investment Type Stabilized

Multifamily | 10 Units | $137,500/unit

Marketing description

Cushman & Wakefield is pleased to present 1415 S Corona Avenue, a 10-unit investment property located in the heart of Colorado Springs. 1415 S Corona Ave is a well-maintained, fully renovated multi-family property consisting of 10 units. Recent upgrades throughout the property ensure a modern, low-maintenance environment for residents, and provide strong potential for future rent increases and long-term appreciation. This property is a prime example of a thoughtfully updated residential asset with modern amenities and high tenant satisfaction. Currently, the building is fully occupied, offering immediate rental income potential and minimal turnover risk for prospective investors.

The property’s proximity near Hwy 25 & Downtown Colorado Springs provides easy access to major transportation and nearby amenities, including upscale dining such as Prime 25, retail shops like Lululemon, Verda Spa, and two major grocery stores including the newly constructed Sprouts Farmers Market. Providing convenient access to local amenities, schools, and transportation routes. This location is highly attractive to both tenants and investors. Additionally, with nine of the ten units currently leased, the property demonstrates strong demand and high tenant retention. The property’s low vacancy rate and recent improvements make it a stable, income-producing asset with opportunities for future value-add enhancements, including increasing rents in line with the market.

Investment highlights

Located 0.5 Miles from the Newly Developed Colorado Creekwalk & Downtown COS

Recent Capital Improvements with Unit Renovations

On-Site Coin-Op Laundry and Off-Street Parking

Listing Contacts

LW
CO CO 100084704
Cushman & Wakefield - Denver, Colorado
NP
CO FA. 100099164, CO FA.100099164
Cushman & Wakefield - Denver, Colorado
Listed by Cushman & Wakefield - Denver, Colorado

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Loan Amount
$0.00
Annual Debt Service
$--
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Annual Cash Flow
$99,454.00
$8,287.83/mo

Valuation Metrics

0
DSCR
7.23%
Cap Rate
7.23%
ROI

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Additional Information

Name
Lee Wagner
License
CO 100084704
Brokerage
Cushman & Wakefield
Brokerage Phone
4174592155
Title
Director
Name
Nic Polaski
License
FA. 100099164
Brokerage
Cushman & Wakefield
Title
Associate
*All information is deemed reliable but not guaranteed. Buyer to verify all information.
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