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    1512-1518 S Corona Ave Colorado Springs, CO 80905

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    For Sale
    $2,300,000

    Turnkey 14-unit property near downtown and I-25.

    Property size:
    6,055 SF
    Lot size:
    0.74 Acres

    Property Features for 1512-1518 S Corona Ave

    General Information

    Standard status
    Active
    Size
    6,055 SF
    Lot size
    0.74 Acres

    Building Details

    Year built
    1954

    Source: ALLEN REALTY Agent MICHAEL NICKS

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Updated Multifamily Property Near Downtown

    This multifamily property features 14 ground-level rental units, offering a turnkey investment opportunity. The units are updated and in great condition, featuring a low-maintenance stucco and brick exterior. Separate laundry facilities are provided for each building. Ample, quiet, shaded off-street parking is available. The property is located close to downtown and I-25, as well as the new commercial development on South Nevada. A school is located across the street. The owner has added LOMA Certification to reduce insurance costs and ductless AC for all units and is working on a grant to improve sidewalks. The property size is 6,055 square feet.
    Location Intelligence

    Current Use by Public Records

    Apartment buildings

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Building Supply Gym & Fitness

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Colorado Springs
    County
    El Paso
    State
    Colorado
    Longitude
    -104.817721
    Latitude
    38.811987

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    FAQs

    What type of property is this?
    Apartment building - Turnkey 14-unit property near downtown and I-25.
    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 $2,300,000.
    What are key features of this property?
    This property features: - Turnkey rental property featuring 14 updated ground-level units in great condition.; - Low-maintenance stucco and brick exterior.; - Convenient location close to downtown, I-25, and South Nevada commercial development.
    (719) 685-0707
    Request Owner's contact information
    1512-1518 S Corona Ave Colorado Springs, CO 80905
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    Colorado Springs, CO 80905
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    1512-1518 S Corona Ave Colorado Springs, CO 80905
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