3129 El Paso St Colorado Springs, CO 80907
Call to check price and availability
8-Unit Multifamily & Retail, High NOI
Property size:
6,580 SFProperty Features for 3129 El Paso St
General Information
- Property type
- Multifamily properties
- Square Feet
- 6,580 SF
- Class
- C
Building Details
- Year Built
- 1954
- Buildings
- 1
- Stories
- 1
- Units
- 8
Listing Agency: Cushman & Wakefield - Denver, Colorado Listing Agent: Lee Wagner
Displayed information is deemed reliable but is not guaranteed and should be independently verified.
Overview
This exceptional Colorado Springs investment property, located at 3129 & 3133 N El Paso St, offers a unique blend of commercial and residential spaces. The 6,580 square foot property includes eight units: six multifamily units and one commercial unit, plus a single-family home. Currently operating at 100% occupancy, the property boasts a strong NOI of $78,058, with a pro-forma NOI of $84,752, representing a 5.89% cap rate and a pro-forma cap rate of 6.40%. The asking price is $1,325,000, or $165,625 per unit, and $201.37 per square foot. Built in 1954, this one-story building sits on a single lot with 14 parking spaces and is zoned C5. The property presents a turn-key investment opportunity with existing flexible leases allowing for immediate rent growth and a built-in $50 annual commercial rent increase over the next five years. Its prime location near the North Nevada Redevelopment Corridor and Downtown Colorado Springs offers high visibility and access to key amenities. The property's diverse offerings and potential for various uses make it a highly compelling investment in the heart of Colorado Springs. The parcel can be divided due to the two existing addresses.
Property Profile
Insight Report
Location Intelligence
Current Use by Public Records
Commercial real estate
Location Insight
- Map
- Local Demand
- City
- Colorado Springs
- County
- El Paso
- State
- Colorado
- Longitude
- -104.8125616
- Latitude
- 38.878329
Nearby Similar for Sale
FAQs
What type of property is this?
Multifamily property - 8-Unit Multifamily & Retail, High NOI
Where is this multifamily property located?
The property is located at 3129 El Paso St Colorado Springs, CO.
What is the asking price?
The asking price for this property is $1,325,000.
What are key features of this property?
This property features: Turn-key investment opportunity with strong cash flow and predictable returns.; Excellent in-place rents with immediate potential for rent growth.; Commercial space features a built-in $50 annual rent increase for the next five years.
