Multifamily
416 N 28th St
416 N 28th St, Colorado Springs, CO 80904
Listing Price: $675,000
Investment Overview
416-422 N 28th Street is a fully renovated, 100% leased fourplex in Colorado Springs’ Old Colorado City neighborhood. All four two-bedroom units feature renovated kitchens and bathrooms and refinished hardwood floors, complemented by significant property improvements including a newer roof, exterior stucco, landscaping, and upgraded insulation.
The property is offered at $675,000 with a 7.01% in-place cap rate, providing immediate cash flow with no remaining renovation program. All units are leased at $1,400 per month, with additional upside as leases roll and through potential utility bill-back implementation.
The investment benefits from a desirable west-side location near Old Colorado City, Garden of the Gods, Manitou Springs, and downtown Colorado Springs, along with the ability to utilize conventional 30-year residential financing because of its four-unit configuration
416 N 28th St
Investment Highlights
- TURNKEY, FULLY RENOVATED ASSET – All four units are renovated, with a newer roof, updated exterior, landscaping, and insulation improvements, minimizing near-term capital needs.
- STABILIZED INCOME WITH UPSIDE – 100% leased at $1,400/unit, with upside through future rent growth and utility bill-back as the one-year leases roll.
- PRIME LOCATION & FLEXIBLE FINANCING – Near Old Colorado City, Garden of the Gods, and downtown, with eligibility for conventional 30-year residential financing
Exclusively Listed By
Listing Price: $675,000
Investment Highlights
- TURNKEY, FULLY RENOVATED ASSET – All four units are renovated, with a newer roof, updated exterior, landscaping, and insulation improvements, minimizing near-term capital needs.
- STABILIZED INCOME WITH UPSIDE – 100% leased at $1,400/unit, with upside through future rent growth and utility bill-back as the one-year leases roll.
- PRIME LOCATION & FLEXIBLE FINANCING – Near Old Colorado City, Garden of the Gods, and downtown, with eligibility for conventional 30-year residential financing
Investment Overview
416-422 N 28th Street is a fully renovated, 100% leased fourplex in Colorado Springs’ Old Colorado City neighborhood. All four two-bedroom units feature renovated kitchens and bathrooms and refinished hardwood floors, complemented by significant property improvements including a newer roof, exterior stucco, landscaping, and upgraded insulation. The property is offered at $675,000 with a 7.01% in-place cap rate, providing immediate cash flow with no remaining renovation program. All units are leased at $1,400 per month, with additional upside as leases roll and through potential utility bill-back implementation. The investment benefits from a desirable west-side location near Old Colorado City, Garden of the Gods, Manitou Springs, and downtown Colorado Springs, along with the ability to utilize conventional 30-year residential financing because of its four-unit configuration
Exclusively Listed By
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