Aspen Creek Apartments 319-321 E Brookside St Colorado Springs, CO 80905

Property Details for Aspen Creek Apartments 319-321 E Brookside St

Year built

1964

Property type

Residential income homes

Description

The Sonoma Heights Apartments, Meadows Pointe Apartments, and Aspen Creek Apartments present an exceptional multifamily opportunity in Colorado Springs. Strategically located in the growing and desirable Knob Hill and Stratton Meadows neighborhoods, the properties are near major city thoroughfares, a bevy of employers, popular malls, chain-grocers and restaurants, big-box shopping, and numerous entertainment options. Totaling 171 total units, the three assets offer value-add potential, requiring only minor interior cosmetic renovations to achieve top-of-market rents. Consisting of three studios, 143 one-bedrooms, and 25 two-bedroom units, these properties provide much needed housing to strong tenant bases. The properties all feature off-street parking, well-maintained common areas, and on-site laundry facilities. The units feature double pane windows, new LVT flooring, fresh paint, and updated bathrooms. All three assets have also endured major capital improvements over the last 10 years including new windows, new roofs, updated electrical, new/repaired boilers, and new Solar panels to greatly help offset utility expenses. Sonoma Heights, Meadows Pointe, and Aspen Creek are prime candidates for repositioning through cosmetic improvements, improved property management, and operational efficiency. The portfolio presents itself as an attractive investment opportunity, offering investors substantial potential for outsized returns at a compelling basis. Property Name: Aspen Creek Apartments Address: 319-321 E Brookside St County: El Paso Year Built: 1964 # Buildings: 2 # Stories: 2 # Units: 34 GBA: 16,392 SF Lot Size: 24,749 SF Parking: Surface Water/Sewer: Master Gas/Electric: Master Zoning: C5

Location Insight

City

Colorado Springs

County

State

Colorado

Longitude

-104.826

Latitude

38.8125