1512 & 1518 S Corona Ave Colorado Springs, CO 80905
New
14-unit multifamily property with immediate cash flow and low expenses.
Type:Commercial
- Added:
- Apr 24, 2026
- Days on Market:
- 5
- Last Refresh:
- Apr 24 at 4:03 pm
Property Features for 1512 & 1518 S Corona Ave
General Information
- Standard status
- Active
- Property subtype
- Commercial
Building Details
- Year Built
- 1954
Listing agent Aaron Moore License #100045037 (719) 287-8881
Listing office Kenney & Company (719) 287-8881
Listing date Apr 24, 2026
Source Elliman
Displayed information is deemed reliable but is not guaranteed and should be independently verified.
All listing content including descriptions, pricing, images are the copyrighted material of Kenney & Company
Overview
Stabilized Multifamily Asset in Colorado Springs
The property at 1512 & 1518 S Corona Ave in Colorado Springs, Colorado, presents an opportunity to acquire a 14-unit multifamily asset. This investment offers immediate cash flow, supported by a rent roll and a low expense structure. The property is fully occupied with 14 one-bedroom/one-bath units, ranging from 420 to 450 square feet. Financials reflect an 8.8% in-place cap rate with an operating expense ratio of 16%. Capital improvements have been completed within the last 24 months, including new appliances, flooring, windows, doors, and electrical upgrades (2025), with roof replacement on the 1518 building (2024). A RUB utility reimbursement system enhances NOI stability and offsets operating costs. Located in a growing market, 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. The property is suited for cash-flow investors, owner-operators, and 1031 exchange buyers seeking stabilized income. The location has a bike score of 74, indicating it is very bikeable, a walk score of 73, indicating it is very walkable, and a transit score of 36, indicating some transit options are available.
Location Intelligence
Current Use by Public Records
Ivy Arms Apts
Apartment Building
Location Insight
- Map
- Local Demand
- City
- Colorado Springs
- County
- El Paso
- State
- Colorado
- Longitude
- -104.817721
- Latitude
- 38.811987
Nearby Similar for Sale
FAQs
What type of property is this?
Apartment building - 14-unit multifamily property with immediate cash flow and low expenses.
Where is this apartment building located?
The property is located at 1512 & 1518 S Corona Ave Colorado Springs, CO.
What is the asking price?
The asking price for this property is $2,175,000.
What are key features of this property?
This property features: High In‑Place Cap Rate: Attractive 8.8% cap rate ensures immediate cash flow.; Recent Capital Improvements: Major renovations completed within the last 24 months, including new appliances, flooring, windows, doors, and electrical upgrades (2025). Roof replacement (2024) on one building.; Low Operating Expense Ratio: Exceptionally low 16% operating expense ratio maximizes profitability.
