2001-2019 Carmel Dr | Colorado Springs, CO 80910
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2001-2019 Carmel Dr
Colorado Springs, CO 80910
Marmont Springs Apartments · Residential Property For Sale · 87 Units
Investment Highlights
- 87 unit community near military installations, retail centers and the Colorado Springs Airport
- 80% of the interiors have been upgraded and are primed for future rent growth and repositioning
- The property boasts new exterior paint, parking lot, windows, and boiler system
- Under market rents, with the ability to strategically renovate unit interiors and command market rate values
Executive Summary
Cushman & Wakefield is excited to introduce the exclusive listing of Marmont Springs Apartments, a lucrative investment opportunity located in the vibrant city of Colorado Springs. This multifamily asset, comprised of 87 units, is ideally situated in the southeast submarket of Colorado Springs. Its prime location, in close proximity to military installations, retail centers, Colorado Springs Airport and major transportation routes, provides a strong foundation for attracting and retaining tenants. The property’s value-add potential, with 80% of the units already renovated, offers an opportunity to capture additional upside and maximize rental income. Current ownership has also
improved major Capital Expenditures on this property, which include new windows, new parking lot, boiler systems, common area hallways with updated lighting and LVP flooring, as well as new signage/branding and exterior paint. The Marmont Springs Apartments are teed up to capitalize on the thousands of new job announcements in the direct area and future growth on the east side of Colorado Springs.
improved major Capital Expenditures on this property, which include new windows, new parking lot, boiler systems, common area hallways with updated lighting and LVP flooring, as well as new signage/branding and exterior paint. The Marmont Springs Apartments are teed up to capitalize on the thousands of new job announcements in the direct area and future growth on the east side of Colorado Springs.
PROPERTY FACTS
| Sale Type | Investment | Building Class | C |
| Net Initial Yield | 6% | Building Size | 53,316 SF |
| No. Units | 87 | Average Occupancy | 89% |
| Property Type | Residential | Number of Floors | 3 |
| Property Subtype | Apartment | Year Built | 1970 |
| Apartment Style | Low Rise |
| Sale Type | Investment |
| Net Initial Yield | 6% |
| No. Units | 87 |
| Property Type | Residential |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | C |
| Building Size | 53,316 SF |
| Average Occupancy | 89% |
| Number of Floors | 3 |
| Year Built | 1970 |
Unit Mix Information
| Description | No. Units | Avg. Rent.Mo | SF |
|---|---|---|---|
| 1+1 | 87 | £725.77 | 450 - 625 |
PROPERTY TAXES
| Parcel Number | 64273-07-015 | Improvements Assessment | £241,542 |
| Land Assessment | £27,573 | Total Assessment | £269,115 |
PROPERTY TAXES
Parcel Number
64273-07-015
Land Assessment
£27,573
Improvements Assessment
£241,542
Total Assessment
£269,115
zoning
| Zoning Code | R-5, Colorado Sprgs |
| R-5, Colorado Sprgs |
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