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Multifamily

1145 Mazatlan Cir

1145 Mazatlan Cir, Colorado Springs, CO 80910

Listing Price: $695,000

Cap Rate
4.72%
Number of Units
4
Occupancy
95.0%
Price/Unit
$173,750
Price/Gross SF
$230.59
Gross SF
3,014

Investment Overview

1145 Mazatlan Circle is an 80's built wood frame stacked four-plex. The property is accessible off major Colorado Springs cross streets Fountain Blvd and Academy. It is located in East Colorado Springs near Colorado Springs Airport and local Citadel Mall. The property is within three miles of Valley Hi Golf Course and Memorial Park. This is an investment opportunity that has room for 20 percent rent growth based off market rents. There is immediate opportunity for value add through rent growth as all leases are month to month. Unit mix is made up of four 763 square foot , two bed one bath units. The units are amenitized with washers & dryers, classic fireplaces, patios and fenced yards for the ground units and balconies for top units. There are five available parking spots as well as off street parking. Within the last four years the units have been updated as needed. According to market survey, an estimated $5,000 in capital investments per unit for modernization, shows opportunity for substantial rent growth. All Utilities are metered separately; water and sewer are billed back and electric and gas are billed directly to the tenants.

Investment Highlights

  • Room for Rent Growth on Four - Two Bedroom One Bathroom Units
  • In Unit Washers & Dryers
  • Patio and Fenced Yard for the Ground Units & Private Balconies for the Top Units

Exclusively Listed By

Financing By

Multifamily

1145 Mazatlan Cir

Listing Price: $695,000

Cap Rate
4.72%
Number of Units
4
Occupancy
95.0%
Price/Unit
$173,750
Price/Gross SF
$230.59
Gross SF
3,014

Investment Highlights

  • Room for Rent Growth on Four - Two Bedroom One Bathroom Units
  • In Unit Washers & Dryers
  • Patio and Fenced Yard for the Ground Units & Private Balconies for the Top Units

Investment Overview

1145 Mazatlan Circle is an 80's built wood frame stacked four-plex. The property is accessible off major Colorado Springs cross streets Fountain Blvd and Academy. It is located in East Colorado Springs near Colorado Springs Airport and local Citadel Mall. The property is within three miles of Valley Hi Golf Course and Memorial Park. This is an investment opportunity that has room for 20 percent rent growth based off market rents. There is immediate opportunity for value add through rent growth as all leases are month to month. Unit mix is made up of four 763 square foot , two bed one bath units. The units are amenitized with washers & dryers, classic fireplaces, patios and fenced yards for the ground units and balconies for top units. There are five available parking spots as well as off street parking. Within the last four years the units have been updated as needed. According to market survey, an estimated $5,000 in capital investments per unit for modernization, shows opportunity for substantial rent growth. All Utilities are metered separately; water and sewer are billed back and electric and gas are billed directly to the tenants.

Exclusively Listed By

Financing By

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