221-225 E Brookside St - Apartments FOR SALE


Colorado Springs, CO 80905- Stratton Meadows
$2,310,000 USD
719-648-0423
221-225 E Brookside St, Colorado Springs, CO for Sale
$2,310,000 USD
Apartments - FOR SALE
1/23
null | Request Cap Rate

221-225 E Brookside St
Colorado Springs, CO 80905
Stratton Meadows


HIGHLIGHTS

  • OPERATIONAL VALUE ADD - Immediate opportunity to increase rents to market rate
  • SIGNIFICANT CAPITAL EXPENDITURE IMPROVEMENTS - Full Boiler System replaced 2024
  • DIVERSIFIED UNIT MIX - Consisting of studios, 1 bedrooms, 2 bedrooms, and 3 bedrooms

OVERVIEW

Cushman & Wakefield is pleased to present The Sapphire Apartments, an exceptional multifamily opportunity comprised of 22 units located in the southern submarket of Colorado Springs. The property offers a range of desirable living options, including four studios, 13 one-bedrooms, 4 two-bedrooms, and 1 three-bedroom floor plan. Tenants also have access to onsite laundry, ample off-street parking, and a prime location with short walking distances to the Ivywild & South Nevada Urban Renewal Area. The property’s proximity near Interstate 25 & Downtown Colorado Springs provides easy access to major transportation and nearby amenities, including Bristol Brewery and Ivywild School. Upscale dining such as Prime 25, retail shops like Lululemon, Veda Spa, and three major grocery stores including the newly constructed Sprouts Farmers Market, Natural Grocers, and Safeway are within walking distance. The Sapphire Apartments are perfectly positioned to capitalize on the growth and development in Colorado Springs. The city’s strong job market, expanding economy, and increasing population make it an attractive destination for renters and investors alike. The Sapphire Apartments represent a compelling investment opportunity for potential buyers. With its strong rental demand, unique unit mix, and location in the South Nevada Urban Renewal Area, the property has an attractive value add story with loss to lease recapture and future cash flow potential for prospective investors.

FOR SALE DETAILS

PRICE

$2,310,000 USD

PRICE/SF

$194 USD /SF

# OF UNITS

22

PRICE/UNIT

$105,000

CAP RATE

Request Cap Rate

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Sapphire Apartments

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1956

PARKING SPACES

28

LAND DETAILS

LAND ACRES

0.64 AC

LAND SF

27,878 SF

ZONING

C5

APN/PARCEL ID

64194-13-010,64194-13-011

ASK ABOUT THIS PROPERTY

Patrick KnowltonCushman & WakefieldMore Info
719-648-0423

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Patrick KnowltonCushman & WakefieldMore Info
719-648-0423

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.