3617 Marion Dr Colorado Springs, CO 80909

The Sonoma Heights Apartments present an exceptional multifamily opportunity in Colorado Springs. Strategically located in the growing and desirable Knob Hill neighborhood, the property is near major city thoroughfares, a bevy of employers, popular malls, chain-grocers and restaurants, big-box shopping, and numerous entertainment options. Totaling 60 units, this asset offers value-add potential, requiring only minor interior cosmetic renovations to achieve top-of-market rents. Consisting of 37 one-bedrooms, and 23 two-bedroom units, Sonoma Heights provides much needed housing to strong tenant bases. The property features surface + 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. The asset has 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 is a prime candidate for repositioning through cosmetic improvements, improved property management, and operational efficiency. These apartment buildings present an attractive investment opportunity, offering investors substantial potential for outsized returns at a compelling basis. Property Name: Sonoma Heights Apartments Address: 3617 Marion Dr County: El Paso Year Built: 1973 # Buildings: 2 # Stories: 3 # Units: 60 GBA: 43,452 SF Lot Size: 54,450 SF Parking: Surface | 86 Spaces Water/Sewer: Master Gas/Electric: Master Zoning: R5