$550,000
$680,000
19.1%For more information regarding the value of a property, please contact us for a free consultation.
10 Beds
4 Baths
3,745 SqFt
SOLD DATE : 05/24/2023
Key Details
Sold Price $550,000
Property Type Single Family Home
Sub Type Income Property
Listing Status Sold
Purchase Type For Sale
Square Footage 3,745 sqft
Subdivision Eastborough
MLS Listing ID 7679737
Sold Date 05/24/23
Bedrooms 10
HOA Y/N false
Abv Grd Liv Area 8,500
Originating Board REcolorado
Year Built 1972
Annual Tax Amount $1,698
Lot Size 8,712 Sqft
Acres 0.2
Property Description
This 4-unit value-add apartment building presents a unique opportunity for investors to acquire an income-generating asset in a highly desirable market. With the potential for increased rents through targeted renovations, this property has the potential to provide significant returns for new ownership. Value-add investors can significantly enhance the property's income potential through unit updates, increasing rents to market levels, and capitalizing on laundry and storage income. The building is situated on an 8,500-square-foot lot, just east of downtown Colorado Springs and is located within minutes of major highways and public transportation, providing convenient access to all that the city has to offer. 315 Vehr features an excellent unit mix comprised of 2-bedroom and 3-bedroom units, with on-site storage and laundry hookups for coin-operated laundry. The property sits northwest of the Colorado Springs Airport and offers ample off-street parking for the tenants.
Location
State CO
County El Paso
Area Out Of Area
Zoning R5 AO
Interior
Cooling Central Air, Room Air Conditioner
Laundry Common Area
Exterior
Garage Spaces 6.0
Roof Type Fiberglass
Building
Faces South
Story 2
Sewer City Sewer, Public Sewer
Level or Stories Two
Structure Type Brick/Brick Veneer
New Construction false
Schools
Elementary Schools Roosevelt-Edison Charter School
Middle Schools Swigert
High Schools Mitchell
School District Colorado Springs 11
Others
Senior Community false
Special Listing Condition Private Owner
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Bought with LPT Realty
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201 Coffman Street # 1902, Longmont, Colorado, 80502, United States