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311 University DR Colorado Springs, CO 80910
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Key Details
Property Type Multi-Family, Commercial
Sub Type Multi Family
Listing Status Active
Purchase Type For Sale
MLS Listing ID 2218636
HOA Y/N No
Year Built 1965
Property Sub-Type Multi Family
Property Description
Cushman & Wakefield is pleased to present 311 University Drive, a five-unit, 4,508 SF multifamily property in southeast Colorado Springs. The property is 100% occupied with leases running through 2027, and base rent is $6,385 per month. The unit mix is larger than typical for a five-unit asset: four 2-bedroom units and one 3-bedroom, for 11 bedrooms and 9 bathrooms.
Ownership has invested more than $158,000 in capital improvements since 2024, roughly 20% of the asking price. Work includes a new Class 4 impact-resistant roof, a new metal and concrete staircase, multiple furnace replacements, xeriscape landscaping, new fencing, and more than $100,000 of interior renovations. The renovations added LVP flooring, updated paint, and new vanities, lighting and plumbing fixtures. The property is in southeast Colorado Springs, near Peak Innovation Park, a 1,600-acre master-planned business park at the entrance to the Colorado Springs Airport. The park already counts Amazon, Frito-Lay,
Northrop Grumman and The Aerospace Corporation among its tenants. Growth is continuing, with a 620,000-square-foot Swire Coca-Cola plant announced and 252,890 square feet of new Class A industrial space under construction. Its manageable unit count and existing building footprint may appeal to investors seeking a smaller multifamily property with potential for operational improvements, rental income growth, and long-term appreciation.
Ownership has invested more than $158,000 in capital improvements since 2024, roughly 20% of the asking price. Work includes a new Class 4 impact-resistant roof, a new metal and concrete staircase, multiple furnace replacements, xeriscape landscaping, new fencing, and more than $100,000 of interior renovations. The renovations added LVP flooring, updated paint, and new vanities, lighting and plumbing fixtures. The property is in southeast Colorado Springs, near Peak Innovation Park, a 1,600-acre master-planned business park at the entrance to the Colorado Springs Airport. The park already counts Amazon, Frito-Lay,
Northrop Grumman and The Aerospace Corporation among its tenants. Growth is continuing, with a 620,000-square-foot Swire Coca-Cola plant announced and 252,890 square feet of new Class A industrial space under construction. Its manageable unit count and existing building footprint may appeal to investors seeking a smaller multifamily property with potential for operational improvements, rental income growth, and long-term appreciation.
Location
State CO
County El Paso
Zoning R-5 AO
Exterior
Private Pool No
Building
Sewer Public Sewer
Others
Tax ID 64154-01-032
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6455 S. Yosemite St., Suite 500 Greenwood Village, CO 80111 USA
6455 S. Yosemite St., Suite 500 Greenwood Village, CO 80111 USA
Listed byCushman & Wakefield