411-413 Prairie Rd - Apartments FOR SALE


Colorado Springs, CO 80909
$1,995,000 USD
417-459-2155
411-413 Prairie Rd, Colorado Springs, CO for Sale
$1,995,000 USD
Apartments - FOR SALE
1/22
null | 6.4% Cap Rate

411-413 Prairie Rd
Colorado Springs, CO 80909


OVERVIEW

Cushman & Wakefield is pleased to present Prairie Arms Apartments, a 12 unit property that has undergone a comprehensive and full renovation, ensuring that all capital expenditure (CapEx) items have been completed to enhance its overall value and appeal. Key upgrades include the renovation of all units, the addition of in-unit washers and dryers, resealing and striping of the parking lot, and a fresh exterior paint job. These improvements position the property in excellent condition, making it a highly attractive option for investors. Prairie Arms Apartments is strategically positioned to generate significant operational value through rent increases as existing leases roll over. With large, spacious units that feature modern updates, tenants will benefit from both comfort and functionality. Additionally, the property’s location near the Olympic Training Center and a short drive to downtown provides a unique advantage, appealing to a wide demographic of potential tenants. This is a stabilized deal with immediate and ongoing value creation opportunities, making it an attractive investment with strong future upside potential.

FOR SALE DETAILS

PRICE

$1,995,000 USD

PRICE/SF

$262 USD /SF

# OF UNITS

12

PRICE/UNIT

$166,250

CAP RATE

6.4%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Prairie Arms Apartments

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1955

PARKING SPACES

19

LAND DETAILS

LAND ACRES

0.34 AC

LAND SF

14,985 SF

ZONING

R, Colorado Springs

APN/PARCEL ID

64162-01-021

ASK ABOUT THIS PROPERTY

Lee WagnerCushman & WakefieldMore Info
417-459-2155

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Lee WagnerCushman & WakefieldMore Info
417-459-2155

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