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    135 University Dr Colorado Springs, CO 80910

    For Sale
    $635,000

    Four-unit apartment building, strong ROI potential.

    Property size:
    3,381 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    360
    This exceptional investment opportunity presents a four-unit apartment building located at 135 University Drive, Colorado Springs, CO 80910. The property, built in 1969, boasts a total of 3,381 square feet situated on an 8,450 square foot lot. Each of the four units features two bedrooms and one bathroom. Currently, the property generates a Net Operating Income (NOI) of $31,347, representing a 4.94% capitalization rate. However, a pro-forma analysis indicates a potential NOI of $40,610, resulting in a 6.40% capitalization rate, reflecting the opportunity to increase rents to market rates. The asking price is $635,000, translating to $158,750 per unit and $187.81 per square foot. The property is well-maintained, with a recently replaced roof, and is situated in a quiet residential neighborhood known for low vacancy rates. This presents a compelling opportunity for investors seeking a stable, income-generating asset with significant upside potential through rental increases. The property's strong fundamentals and location within a desirable Colorado Springs neighborhood make it an attractive addition to any investment portfolio. All units are two-bedroom, one-bathroom apartments.

    Property Features for 135 University Dr

    General Information

    Property type
    Multifamily properties
    Square Feet
    3,381 SF
    Class
    C

    Building Details

    Year Built
    1969
    Units
    4

    HighLights

    • Four‑unit apartment building at 135 University Drive, Colorado Springs, CO 80910.
    • All units are two‑bedroom, one‑bathroom apartments.
    • Well‑maintained property with a recently replaced roof.
    • Potential to increase rents to market rates, boosting NOI to $40,610 (6.40% cap rate).
    • Located in a quiet residential neighborhood with low vacancy rates.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

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

    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
    -104.7623202
    Latitude
    38.8283852

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    FAQs

    What type of property is this?
    Multifamily property - Four-unit apartment building, strong ROI potential.
    Where is this multifamily property located?
    The property is located at 135 University Dr Colorado Springs, CO.
    What is the asking price?
    The asking price for this property is $635,000.
    What are key features of this property?
    This property features: Four-unit apartment building at 135 University Drive, Colorado Springs, CO 80910.; All units are two-bedroom, one-bathroom apartments.; Well-maintained property with a recently replaced roof.
    Request Owner's contact information
    135 University Dr Colorado Springs, CO 80910
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    135 University Dr
    Colorado Springs, CO 80910
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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
    135 University Dr Colorado Springs, CO 80910
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