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Multifamily

Applewood Apartments

505 E Arvada Street, Colorado Springs, CO 80905

Listing Price: $3,200,000

Cap Rate
5.12%
Number of Units
29
GRM
14.51
Occupancy
95.0%
Price/Unit
$110,345
Price/Gross SF
$188.62
Gross SF
16,965

Investment Overview

Marcus & Millichap is please to present the Applewood Apartments located at 505 East Arvada Street in growing Colorado Springs, Colorado. Built in 1968, this complex is made up of 29 one-bedroom units averaging 585 square feet. The Applewood Apartments is located within walking distance of a large variety of shopping and dining destinations, and next to I-25 that drives to all that Colorado Springs has to offer are quick and convenient. Situated in the Stratton Meadows neighborhood, The Applewood Apartments offers residents access to the growing job market that Colorado Springs provides while maintaining more affordable rents compared to Colorado Springs median housing prices. Proximity to local main roads makes commutes easy and provides expanded access to a plethora of employment centers. A seven-minute walk to the Nevada/Brookside bus stop offers northbound and southbound transit throughout south-central Colorado Springs. The Covid-19 pandemic has catalyzed a favorable demographic shift in the mountain west region as a whole, and especially Colorado Springs; resulting in this property becoming ideal addition to any investors portfolio.

Investment Highlights

  • Community Amenities: Off-Street Parking, Laundry Facilities, Yard/Picnic Area
  • Nearly All of City Accessible with a Less Than 20-Minute Drive
  • Walking Distance to Shopping Centers
  • Ten Minute Drive to Two of Colorado Springss Biggest Parks

Exclusively Listed By

Listing Price: $3,200,000

Cap Rate
5.12%
Number of Units
29
GRM
14.51
Occupancy
95.0%
Price/Unit
$110,345
Price/Gross SF
$188.62
Gross SF
16,965

Investment Highlights

  • Community Amenities: Off-Street Parking, Laundry Facilities, Yard/Picnic Area
  • Nearly All of City Accessible with a Less Than 20-Minute Drive
  • Walking Distance to Shopping Centers
  • Ten Minute Drive to Two of Colorado Springss Biggest Parks

Investment Overview

Marcus & Millichap is please to present the Applewood Apartments located at 505 East Arvada Street in growing Colorado Springs, Colorado. Built in 1968, this complex is made up of 29 one-bedroom units averaging 585 square feet. The Applewood Apartments is located within walking distance of a large variety of shopping and dining destinations, and next to I-25 that drives to all that Colorado Springs has to offer are quick and convenient. Situated in the Stratton Meadows neighborhood, The Applewood Apartments offers residents access to the growing job market that Colorado Springs provides while maintaining more affordable rents compared to Colorado Springs median housing prices. Proximity to local main roads makes commutes easy and provides expanded access to a plethora of employment centers. A seven-minute walk to the Nevada/Brookside bus stop offers northbound and southbound transit throughout south-central Colorado Springs. The Covid-19 pandemic has catalyzed a favorable demographic shift in the mountain west region as a whole, and especially Colorado Springs; resulting in this property becoming ideal addition to any investors portfolio.

Exclusively Listed By

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