1518 N Wahsatch Avenue is a centrally located multifamily investment opportunity positioned within the highly desirable Old North End. The property benefits from strong renter demand driven by its proximity to Downtown Colorado Springs, Colorado College, major employment centers, and recreational amenities throughout the urban core. The surrounding neighborhood offers… Read More a blend of historic charm, walkability, and access to dining, retail, and outdoor recreation that continues to attract young professionals, students, military-affiliated tenants, and long-term residents. The area has experienced ongoing residential and mixed-use investment activity as population growth and housing demand continue to support rental fundamentals across the city. This 7-unit property features a desirable unit mix of (5) two bed and (2) one bed units. This is a rare downtown asset on a large 16,000 SF lot with off street parking and additional garage spaces for tenants. The property has been self-managed for over 30+ years and presents operational upside through recapturing $150+ rental premiums on the flexible month-to-month leases day one. Investment Highlights: -Premier Downtown location blocks from Colorado College with walkability to Downtown Colorado Springs -Operational value add with current rents providing $150-$250 premiums as the flexible leases turn -Well maintained legacy asset with long-term attentive owners -Desirable unit mix of primarily 2 bedroom units -Rare opportunity to acquire a Downtown asset with large lot, off street parking, and 6 garages Read Less
Construction Materials: "Frame", Effective Year Built: 2021, Occupant Type: Tenant, Total Area: 5700, Unit Count: 2, Unit Types: "Array", "Array", Built in 1899, 7 total units, 3 vacant units
Garage
6 garage spaces
Home Owner's Association
Association Fee Total Annual: $0, Association Fee Annual: 0.00, Association Fee 2 Annual Expense: 0.00, Association Fee 3 Annual Expense: 0.00
Listings courtesy of METROLIST, INC., DBA RECOLORADO® as distributed by MLS GRID, based on information submitted to the MLS GRID as of . Information is provided exclusively for consumers' personal noncommercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Data is deemed reliable but is not guaranteed by MLS GRID. All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may be listed or sold by various participants in the MLS, who may not be the office/agent presenting the information.
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