127 University Dr Colorado Springs, CO 80910
- Commercial real estate
- 3,381 SF
Current Use by Public Records
- DunRight Home Repairs LLC / Contractor / Remodeler
Property Details for 127 University Dr
- Property size
- 3,381 SF
- Property type
- Commercial real estate
Description
This exceptional investment opportunity presents a four-unit apartment building located at 127 University Drive, Colorado Springs, CO 80910. The property 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. The building is classified as Class C and is currently generating a Net Operating Income (NOI) of $44,328, representing a 6.98% capitalization rate. Pro-forma NOI is projected at $45,142, yielding a 7.11% capitalization rate. The asking price is $635,000, translating to $187.81 per square foot and $158,750 per unit. The property is situated in a quiet residential neighborhood known for low vacancy rates, offering a new owner the potential to increase rental income to market rates. The building has been well-maintained, and the units are in good condition relative to comparable properties in the area. A significant recent improvement includes a newly replaced roof. This property offers a compelling combination of strong cash flow, potential for appreciation, and a desirable location. The property's financial performance and location make it an attractive investment for both seasoned and new investors seeking a stable and profitable multifamily asset in the Colorado Springs market.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Colorado Springs
- County
- El Paso
- State
- Colorado
- Longitude
- -104.7623268
- Latitude
- 38.8287503
