904 Arcturus Dr - Apartments FOR SALE


Colorado Springs, CO 80905- West Colorado Springs
$5,450,000 USD
480-881-3100
904 Arcturus Dr, Colorado Springs, CO for Sale
$5,450,000 USD
Apartments - FOR SALE
1/128
null | Request Cap Rate

904 Arcturus Dr
Colorado Springs, CO 80905
West Colorado Springs


HIGHLIGHTS

  • 7 completed townhomes with high-end finishes and impeccable construction quality with builder warranties
  • 10 lots with approved building permits
  • City approved Design, Landscape and Irrigation plans, Storm water and storm sewer infrastructure complete
  • All Colorado Springs Utilities plumbed in including Comcast cable and Ethernet
  • Land indemnification complete with 17 townhome lots
  • WRAP insurance policy for project (to protect any builder's defect liability)

OVERVIEW

The Villas at Skyway offers an exceptional investment-development opportunity in the highly desirable Broadmoor area of Colorado Springs. This 2.11-acre site is strategically located with easy access to top-tier schools, local amenities, and outdoor recreation, making it ideal for high-end residential development. The property is shovel-ready, with approved entitlements and infrastructure in place. It includes 20,807 square feet for 10 residential lots, 58,720 square feet of infrastructure land with roads, stormwater systems, sewer, landscaping, and full utilities (water, gas, electricity, Comcast, and Ethernet). Additionally, 4 townhomes are completed, and 3 more are slated for completion by the end of February 2025, providing immediate rental income. The approved entitlements, installed infrastructure, and townhomes reduce the typical timeline and risks of development. The property also benefits from land indemnification for the entire 17-lot project and a WRAP insurance policy covering future builder defects. This unique combination of completed entitlements, infrastructure, and rental income offers a low-risk, high-reward investment opportunity. $600,000 per door.

FOR SALE DETAILS

PRICE

$5,450,000 USD

PRICE/SF

$458 USD /SF

# OF UNITS

7

PRICE/UNIT

$778,571

CAP RATE

Request Cap Rate

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

VILLAS AT SKYWAY

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

2024

PARKING SPACES

-

LAND DETAILS

LAND ACRES

-

LAND SF

-

ZONING

R-5

APN/PARCEL ID

-

ASK ABOUT THIS PROPERTY

Dave CameronMatthews Real Estate investment ServicesMore Info
480-881-3100

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Dave CameronMatthews Real Estate investment ServicesMore Info
480-881-3100

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