316 Brookside St, Colorado Springs, CO 80905
17 Unit Apartment Building | $3,195,000 ($187,941/Unit) | 5% Cap Rate | Colorado Springs, CO 80905
For Sale
Active
Asking Price $3,195,000
- Property Type
-
Multifamily
- Square Feet
- 13,440 SF
Listing Contacts
Lee Wagner
Property Overview
Cushman & Wakefield is pleased to present The Brookside (Ivywild Flats) Apartments. This property stands as an established 17-unit apartment complex located in the heart of “Olympic City USA” Colorado Springs, Colorado. This well-maintained complex offers a favorable and desirable mix of upgraded 1-bedroom and 2-bedroom units, offering an attractive investment with predictable in-place returns. The property offers an Assumable Agency Loan fixed through 2031 with a 3.93% percent rate.
Recent renovations ensure lowered maintenance expenses and increased tenant satisfaction, adding to its long-term profitability & stability. Residents also enjoy the onsite laundry, ample off-street parking, and prime location in the Ivywild & North Nevada Redevelopment corridor. The property’s proximity near Hwy 25 & Downtown Colorado Springs provides easy access to major transportation and nearby amenities, including upscale dining such as Prime 25, retail shops like Lululemon, Veda Spa, and two major grocery stores including the newly constructed Sprouts Farmers Market.
Recent renovations ensure lowered maintenance expenses and increased tenant satisfaction, adding to its long-term profitability & stability. Residents also enjoy the onsite laundry, ample off-street parking, and prime location in the Ivywild & North Nevada Redevelopment corridor. The property’s proximity near Hwy 25 & Downtown Colorado Springs provides easy access to major transportation and nearby amenities, including upscale dining such as Prime 25, retail shops like Lululemon, Veda Spa, and two major grocery stores including the newly constructed Sprouts Farmers Market.
Property Details
- Class
- C
- Year Built
- 1968
- Stories
- 3
- Lot Size (sq. ft)
- 13,939 SF
- Units
- 17
Highlights
- 3.93% Assumable Loan Fixed Through 03/01/2031
- Loan Balance is $1,824,482 (56% LTV)
- Recent Capital Improvements with Unit Renovations
- Ten 2 Bed/1 Bath Units, Seven 1 Bed/1 Bath Units
- On-Site Coin-Op Laundry, Off-street Parking
- 0.5 Miles to Colorado Creekwalk and Downtown Colorado Springs
Nearby Properties
Similar Properties
FAQ
- How do I add a non-forward facing team member such as a broker coordinator or broker aide to a listing in order to ensure they get notifications on the property?
- Please email our support team at [email protected] and they will add the team member.
- How do I access a private listing?
- Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.
- How can I contact the broker
- We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.
- What is the difference between Tier 1 & Tier 2 in the Due Diligence Vault?
- Documents that are placed in a Tier-1 Due Diligence vault require the execution of a Confidentiality Agreement (“CA”) for access. Documents and folders placed in the Tier-2 vault are intended to have an added layer of security and require the execution of a CA in addition to required Broker approval for access.
- How do I unsubscribe from emails?
- At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at [email protected].