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Stabilized Multifamily Asset in Colorado Springs

1512 & 1518 S Corona Ave, Colorado Springs, CO 80905

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For Sale

$2,175,000

14-unit multifamily property with immediate cash flow and low expenses.

Type:Commercial

HighLights

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.
Fully Occupied: 14‑unit property is fully leased, providing stabilized income.
Utility Reimbursement System: RUB system enhances NOI stability and offsets operating costs.
Prime Location: Located in Colorado Springs, a fast‑growing market with a strong employment base anchored by military and defense installations.

We can help!

Listing Contact

Aaron Moore

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For Sale

$2,175,000

14-unit multifamily property with immediate cash flow and low expenses.

Type:Commercial

Added:: Apr 24, 2026
Days on Market:: 48
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

We can help!

Listing Contact

Aaron Moore

Listing agent Aaron Moore License #100045037

Listing office Kenney & Company

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

HighLights

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.
Fully Occupied: 14‑unit property is fully leased, providing stabilized income.
Utility Reimbursement System: RUB system enhances NOI stability and offsets operating costs.
Prime Location: Located in Colorado Springs, a fast‑growing market with a strong employment base anchored by military and defense installations.

Overview

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

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Ivy Arms Apts Apartment Building

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Local Demand

City: Colorado Springs
County: El Paso
State: Colorado
Longitude: -104.817721
Latitude: 38.811987

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For sale
Apartment buildings
CO
Colorado Springs
80905
1512 & 1518 S Corona Ave

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.