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315 Vehr DR Colorado Springs, CO 80916
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Key Details
Sold Price $550,000
Property Type Multi-Family
Sub Type Quadplex
Listing Status Sold
Purchase Type For Sale
Square Footage 8,500 sqft
Price per Sqft $64
Subdivision Eastborough
MLS Listing ID 7679737
Sold Date 05/24/23
Bedrooms 10
HOA Y/N No
Abv Grd Liv Area 3,745
Year Built 1972
Annual Tax Amount $1,698
Tax Year 2022
Lot Size 8,500 Sqft
Acres 0.2
Property Sub-Type Quadplex
Source recolorado
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
Zoning R5 AO
Interior
Heating Electric
Cooling Air Conditioning-Room, Central Air
Fireplace N
Laundry Common Area
Exterior
Roof Type Architecural Shingle
Total Parking Spaces 6
Garage No
Building
Sewer Public Sewer
Level or Stories Two
Structure Type Brick,EIFS
Schools
Elementary Schools Roosevelt-Edison Charter School
Middle Schools Swigert
High Schools Mitchell
School District Colorado Springs 11
Others
Senior Community No
Ownership Individual
Acceptable Financing 1031 Exchange, Cash, Conventional, FHA, VA Loan
Listing Terms 1031 Exchange, Cash, Conventional, FHA, VA Loan
Special Listing Condition None
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6455 S. Yosemite St., Suite 500 Greenwood Village, CO 80111 USA
Bought with LPT Realty