Stabilized Multifamily Investment
1512 South Corona Avenue, Colorado Springs, CO 80905
Renovated multifamily property with strong income and growth potential.
Type:Multifamily
Property size:
3,140 SFPrice / SF:
$398/SF- Added:
- Mar 4, 2026
- Days on Market:
- 69
- Last Refresh:
- Mar 16 at 2:32 pm
Property Features for 1512 South Corona Avenue
General Information
- Standard status
- Active
- Size
- 3,140 SF
- Property subtype
- Multifamily
Building Details
- Year Built
- 1956
Listing agent Aaron Moore License #CO FA.100045037
Listing office Kenney and Company
Listing date Mar 4, 2026
Source Crexi
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 and Company
HighLights
- 8. 8% in‑place cap rate at the $1,250,000 list price, generating $110,460 net operating income.
- Eight renovated one‑bedroom units with substantial improvements in the last 24 months.
- Strong workforce housing demand in Colorado Springs.
- Low operating expense ratio of approximately 16% due to RUB utility reimbursement system.
- Stabilized multifamily investment generating $131,500 in annual gross income.
- Potential for long‑term rent growth.
Overview
The property at 1512 S Corona Ave presents an opportunity to acquire a stabilized multifamily investment in Colorado Springs, Colorado. The property generates $10,320 in current monthly rents, producing approximately $131,500 in annual gross income and $110,460 in net operating income. This represents an 8.8% in-place cap rate at the $1,250,000 list price. The property consists of eight renovated one-bedroom units positioned to serve the workforce housing demand in Colorado Springs. Units average approximately 420–450 square feet and have undergone improvements within the last 24 months, including new appliances, flooring, windows, doors, and electrical upgrades. Operational efficiency is enhanced through a RUB utility reimbursement system, which offsets utility costs and supports a low operating expense ratio of approximately 16%. Colorado Springs continues to experience population and employment growth driven by major regional employers including Fort Carson, Peterson Space Force Base, and Schriever Space Force Base. With average market rents approaching $1,800 across the metro area, the property offers both immediate cash flow and long-term rent growth potential. This offering is suited for cash-flow investors, owner-operators, and 1031 exchange buyers seeking stabilized income with embedded upside in one of Colorado’s fastest-growing markets. The property size is 3,140 square feet.
Property Profile
Insight Report
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 - Renovated multifamily property with strong income and growth potential.
Where is this apartment building located?
The property is located at 1512 South Corona Avenue Colorado Springs, CO.
What is the asking price?
The asking price for this property is $1,250,000.
What are key features of this property?
This property features: 8. 8% in‑place cap rate at the $1,250,000 list price, generating $110,460 net operating income.; Eight renovated one‑bedroom units with substantial improvements in the last 24 months.; Strong workforce housing demand in Colorado Springs.
