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1512/1518 S Corona AVE Colorado Springs, CO 80905
0.37 Acres Lot
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Aptmts(6+Units)
Listing Status Active
Purchase Type For Sale
MLS Listing ID 6028994
Construction Status Existing
HOA Y/N No
Year Built 1954
Annual Tax Amount $1,966
Tax Year 2024
Lot Size 0.375 Acres
Property Sub-Type Aptmts(6+Units)
Property Description
presents a rare opportunity to acquire a 14-unit stabilized multifamily asset in Colorado Springs, Colorado. This turnkey investment delivers immediate cash flow with institutional-quality operating performance, supported by a proven rent roll and exceptionally low expense structure.
The property is fully occupied with 14 leased one-bedroom/one-bath units (420–450 SF). Trailing twelve-month financials reflect an attractive 8.8% in-place cap rate with an operating expense ratio of only 16%. All major capital improvements have been completed within the last 24 months, including new appliances, flooring, windows, doors, electrical upgrades (2025), and roof replacement on the 1518 building (2024). A RUB utility reimbursement system further enhances NOI stability and offsets operating costs.
Located in one of Colorado's fastest-growing markets, Colorado Springs benefits from a diverse employment base anchored by military and defense installations including Fort Carson, Peterson Space Force Base, and Schriever Space Force Base.
The property is fully occupied with 14 leased one-bedroom/one-bath units (420–450 SF). Trailing twelve-month financials reflect an attractive 8.8% in-place cap rate with an operating expense ratio of only 16%. All major capital improvements have been completed within the last 24 months, including new appliances, flooring, windows, doors, electrical upgrades (2025), and roof replacement on the 1518 building (2024). A RUB utility reimbursement system further enhances NOI stability and offsets operating costs.
Located in one of Colorado's fastest-growing markets, Colorado Springs benefits from a diverse employment base anchored by military and defense installations including Fort Carson, Peterson Space Force Base, and Schriever Space Force Base.
Location
State CO
County El Paso
Area Longs Terrace
Interior
Cooling None
Laundry Common
Exterior
Garage Spaces 30.0
Utilities Available Cable Available, Electricity Connected, Natural Gas Connected
Roof Type Composite Shingle
Building
Foundation Crawl Space, Partial Basement
Water Municipal
Structure Type Frame
Construction Status Existing
Schools
School District Colorado Springs 11
Others
Special Listing Condition Not Applicable
Listed by Better Homes and Gardens Real Estate Kenney & Company