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    25 31St St Colorado Springs, CO 80904

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    For Sale
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    24-Unit Multifamily Investment

    Property size:
    18,192 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    Westside Station, a 24-unit apartment building in desirable Old Colorado City, Colorado Springs (80904), presents a compelling investment opportunity. This 18,192 square foot property, situated on 0.65 acres, offers a diverse unit mix: predominantly two-bedroom units, supplemented by seven one-bedroom units and a single studio. All units have undergone recent renovations, boasting granite countertops, contemporary cabinetry, stainless steel appliances, and new luxury vinyl plank (LVP) flooring. The property's prime location provides residents with convenient access to a vibrant neighborhood featuring numerous restaurants, bars, and entertainment venues, all within walking distance. Ample tenant parking is available. Recent exterior improvements include fresh paint, and the property also features a communal BBQ area and a private dog park for residents' enjoyment. Built in 1972, this well-maintained multifamily asset benefits from its location adjacent to Garden of the Gods Park and represents a strong investment in a thriving Colorado Springs submarket. The property's combination of updated units, desirable location, and attractive amenities makes it an exceptional opportunity for investors seeking a well-positioned, high-performing multifamily asset.

    Property Features for 25 31St St

    General Information

    Property type
    Multifamily properties
    Square Feet
    18,192 SF
    Lot Size
    28,314 SF

    Building Details

    Year Built
    1972
    Units
    24

    HighLights

    • Diverse unit mix: Predominantly two‑bedroom units, plus seven one‑bedrooms and one studio.
    • Renovated units: Granite countertops, modern cabinetry, stainless steel appliances, and new LVP flooring.
    • Prime location: Highly desirable Old Colorado City, walkable to restaurants, bars, and entertainment.
    • Excellent amenities: Ample tenant parking, new exterior paint, community BBQ area, and private dog park.
    Property Profile Location Intelligence

    Current Use by Public Records

    Westside Station Apartment Building

    Suggested Use

    Realty agency Law Firm Restaurant Dental Office Spa & Massage Hair Salon Nail Salon Building Supply Clothing Store 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
    -104.87114084174
    Latitude
    38.854046111261

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    FAQs

    What type of property is this?
    Multifamily property - 24-Unit Multifamily Investment
    Where is this multifamily property located?
    The property is located at 25 31St St Colorado Springs, CO.
    What are key features of this property?
    This property features: Diverse unit mix: Predominantly two-bedroom units, plus seven one-bedrooms and one studio.; Renovated units: Granite countertops, modern cabinetry, stainless steel appliances, and new LVP flooring.; Prime location: Highly desirable Old Colorado City, walkable to restaurants, bars, and entertainment.
    Request Owner's contact information
    25 31St St Colorado Springs, CO 80904
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    Colorado Springs, CO 80904
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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
    25 31St St Colorado Springs, CO 80904
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