4050 Ruskin Way Colorado Springs, CO 80910
- Commercial real estate
- 3,564 SF
Current Use by Public Records
- Commercial real estate
Property Details for 4050 Ruskin Way
- Year built
- 1972
- Property size
- 3,564 SF
- Property type
- Commercial real estate
Description
This exceptional 4-unit apartment building, located at 4050 Ruskin Way in Colorado Springs, CO 80910, presents a compelling value-add investment opportunity. The property, built in 1972 and renovated in 2021, boasts a total of 3,564 square feet situated on a 10,500 square foot lot. Each of the two-story building's four units features two bedrooms and one bathroom, complete with off-street parking and a working fireplace. Recent renovations included LVT flooring, fresh paint, and updated cabinets in two of the units. The property benefits from a new roof (installed 2 years prior), minimizing future maintenance expenses. The current NOI is $42,418, yielding a 6.53% cap rate, with a pro-forma NOI of $48,116 and a pro-forma cap rate of 7.40%. The asking price is $650,000, translating to $162,500 per unit and $182.38 per square foot. The property is zoned R5 AO and enjoys a convenient location in a quiet cul-de-sac, close to the Colorado Springs Airport and an Amazon distribution center, ensuring strong rental demand. This property is ideal for an investor seeking immediate income and potential for future appreciation in a thriving Colorado Springs market. The property's strong fundamentals, recent renovations, and prime location make it a highly attractive investment.
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
- -104.7532498
- Latitude
- 38.8261113
