135 University Dr Colorado Springs, CO 80910

This exceptional investment opportunity presents a four-unit apartment building located at 135 University Drive, Colorado Springs, CO 80910. The property, built in 1969, 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. Currently, the property generates a Net Operating Income (NOI) of $31,347, representing a 4.94% capitalization rate. However, a pro-forma analysis indicates a potential NOI of $40,610, resulting in a 6.40% capitalization rate, reflecting the opportunity to increase rents to market rates. The asking price is $635,000, translating to $158,750 per unit and $187.81 per square foot. The property is well-maintained, with a recently replaced roof, and is situated in a quiet residential neighborhood known for low vacancy rates. This presents a compelling opportunity for investors seeking a stable, income-generating asset with significant upside potential through rental increases. The property's strong fundamentals and location within a desirable Colorado Springs neighborhood make it an attractive addition to any investment portfolio. All units are two-bedroom, one-bathroom apartments.