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32630370
32630377

624 Prairie Rd, Colorado Springs, CO 80909-6025

Unique Properties, Inc
WM
CO 100087986
Unique Properties, Inc
Listed by Unique Properties, Inc
$920,000
21 days on market
Updated 21 days ago

624 Prairie Rd

Details
Property Type Multifamily
Sub Type Apartment Building
Square Footage 4,708
Units 8
Cap Rate 6.02%
NOI $55,363
Occupancy 95.5%
Tenancy Multi
Pro-Forma Cap Rate 7.25%
Pro-Forma NOI $66,662
Price per SqFt $195
Year Built 1952
Buildings 2
Stories 2
Lot Size (SqFt) 11,250
Parking Spaces 9 spaces
Parking Per SqFt 1.91
Investment Type Stabilized

Multifamily | 6.02% CAP | 8 Units

Marketing description

Offered for sale is a well-located multifamily asset at 624 Prairie Rd in the heart of Colorado Springs, CO. This property consists of two buildings totaling approximately 4,708 square feet of rentable space, situated on an 11,250 square foot lot. Built in 1952, the buildings feature stucco exterior construction with pitched composition shingle roofs and a two-story configuration. The unit mix includes a total of eight units, comprised of six one-bedroom, one-bath units and two two-bedroom, one-bath units. The property also includes one garage parking space.

624 Prairie Rd is situated just a few blocks from the U.S. Olympic Training Center and Boulder Park, offering tenants access to outdoor recreation, green space, and one of the city's most prominent athletic landmarks. This proximity enhances both tenant desirability and long-term investment appeal. With solid in-place fundamentals and room for operational upside, this asset presents a compelling opportunity for investors seeking stable returns and value-add potential in a strong rental submarket of Colorado Springs.

Investment highlights

  • New Sewer Cleanouts
  • New Hot Water Heater
  • New Coin Operated Washer and Dryers
  • Electrical Service Upgrade and New Panels in Each Unit
  • New Boiler

Listing Contacts

Unique Properties, Inc
WM
CO 100087986
Unique Properties, Inc
Listed by Unique Properties, Inc

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Loan Amount
$0.00
Annual Debt Service
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Annual Cash Flow
$55,363.00
$4,613.58/mo

Valuation Metrics

0
DSCR
6.02%
Cap Rate
6.02%
ROI

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