3617 Marion Drive Colorado Springs, CO 80909
60-unit apartment complex in Knob Hill neighborhood.
Type:Multifamily
Property size:
43,452 SFLot size:
1.25 AcresPrice / SF:
$124/SF- Added:
- Nov 15, 2024
- Days on Market:
- 522
- Last Refresh:
- Mar 17 at 1:14 pm
Property Features for 3617 Marion Drive
General Information
- Standard status
- Active
- Size
- 43,452 SF
- Lot size
- 1.25 Acres
- Property subtype
- Multifamily
Building Details
- Year Built
- 1973
Listing agent Andrew Vollert License #FA100097790
Listing office Kaufman Hagan Commercial Real Estate
Listing date Nov 15, 2024
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 Kaufman Hagan Commercial Real Estate
Overview
Colorado Springs Multifamily Investment
The Sonoma Heights Apartments offer a multifamily investment opportunity in Colorado Springs, situated in the Knob Hill neighborhood. The property, built in 1973, comprises 60 units across two buildings with three stories each, totaling 43,452 square feet on a 54,450-square-foot lot. The unit mix includes 37 one-bedroom and 23 two-bedroom apartments. The property features surface and off-street parking with 86 spaces, well-maintained common areas, and on-site laundry facilities. The units include double-pane windows, new LVT flooring, fresh paint, and updated bathrooms. Significant capital improvements have been made over the past 10 years, including new windows, new roofs, updated electrical systems, new or repaired boilers, and new solar panels. The property is located near major city thoroughfares, employers, malls, grocery stores, restaurants, shopping, and entertainment options. The property has value-add potential through minor interior cosmetic renovations. The property is zoned R5 and has master water/sewer and gas/electric. This asset is a candidate for repositioning through cosmetic improvements, improved property management, and operational efficiency.
Property Profile
Insight Report
Location Intelligence
Current Use by Public Records
Sonoma Heights
Apartment Building
Location Insight
- Map
- Local Demand
- City
- Colorado Springs
- County
- El Paso
- State
- Colorado
- Longitude
- -104.761663
- Latitude
- 38.8491108
Nearby Similar for Sale
FAQs
What type of property is this?
Apartment building - 60-unit apartment complex in Knob Hill neighborhood.
Where is this apartment building located?
The property is located at 3617 Marion Drive Colorado Springs, CO.
What is the asking price?
The asking price for this property is $5,400,000.
What are key features of this property?
This property features: Value‑add potential through cosmetic renovations to achieve top‑of‑market rents.; Strategic location in the desirable Knob Hill neighborhood near major thoroughfares, employers, shopping, and entertainment.; Significant capital improvements in the last 10 years, including new windows, roofs, updated electrical, new/repaired boilers, and new solar panels.
