Listing Courtesy of: Dan@TotalRealtyAdvisors.com,970-799-5354 - Daniel Lucchesi - Lucchesi Property Group
303-999-1586
$700,000
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1322 Arch Street Colorado Springs, CO 80904
Cluster
Residence
8
Beds
4
Baths
...
Bed/Bath
3,216
Sq. Ft.
Property Activity
Time on Site
days
Days on Market
Views
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Great up/down four-plex in a quiet location in South Colorado City right between Downtown Colorado Springs and Manitou Springs. Located a few blocks to a bus stop and with quick access to Highway 24. This fantastic income investment is fully occupied $56,040 current gross revenue in Jan 2025. Limite...d taxes has helped control operating expenses (est. $14,500, 2024) which would produced a potential Net Operating Income of $41,540 in 2025 and a 5.93% cap rate. The property features nine (9) off-street parking spaces and each unit features laundry, individual gas heat and energy efficient heat pump ("mini-split") heating and cooling. Minutes to downtown Colorado Springs, close to recreation, dining and shopping. Fully leased with established renters. New LVP flooring or new carpet in units, mostly updated bathrooms, kitchen improvements, newer appliances, washers and dryers. Newer furnaces and water heaters. Sewer lines to street replaced 13 years ago, composite roof in good shape, newer interior and exterior paint. Each unit has a storage locker. Plenty of parking on east and west side of building. Quiet community. Nice mountain views, close to nature. All units come with washer and dryer hookups. Units are occupied. Do not disturb tenants. Tours are not allowed - please review photos. Access to the Property will be provided upon an accepted Contract to Buy and Sell. Exceptions will not be made - if working with a broker, please make sure they read the remarks BEFORE reaching out. Possession will be subject to any/all tenant leases and any additional tenant's rights. Financials available upon request.
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MLS#
9935893
Property Type
Cluster
Bedrooms
8
Bathrooms
Year Built
1973
Square Feet
3,216
sq. ft
Lot Size
0.2
Stories
2.0
Sewer
Public Sewer
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