Brookside(Ivywild) Apartments- Assumable Loan | 316 E Brookside
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Brookside(Ivywild) Apartments- Assumable Loan 316 E Brookside
17 Unit Block of Flats £2,327,550 (£136,915/Unit) 5.41% Net Initial Yield Colorado Springs, CO 80905
Investment Highlights
- 3.93% Assumable Loan Fixed Through 03/01/2031
- Recent Capital Improvements with Unit Renovations
- On-Site Coin-Op Laundry, Off-street Parking
- Loan Balance is $1,824,482 (56% LTV)
- Ten 2 Bed/1 Bath Units, Seven 1 Bed/1 Bath Units
- 0.5 Miles to Colorado Creekwalk and Downtown Colorado Springs
Executive Summary
Cushman & Wakefield is pleased to present The Brookside (Ivywild Flats) Apartments. This property stands as an established 17-unit apartment complex located in the heart of “Olympic City USA” Colorado Springs, Colorado. This well-maintained complex offers a favorable and desirable mix of upgraded 1-bedroom and 2-bedroom units, offering an attractive investment with predictable in-place returns. The property offers an Assumable Agency Loan fixed through 2031 with a 3.93% percent rate.
Recent renovations ensure lowered maintenance expenses and increased tenant satisfaction, adding to its long-term profitability & stability. Residents also enjoy the onsite laundry, ample off-street parking, and prime location in the Ivywild & North Nevada Redevelopment corridor. The property’s proximity near Hwy 25 & Downtown Colorado Springs provides easy access to major transportation and nearby amenities, including upscale dining such as Prime 25, retail shops like Lululemon, Veda Spa, and two major grocery stores including the newly constructed Sprouts Farmers Market.
Recent renovations ensure lowered maintenance expenses and increased tenant satisfaction, adding to its long-term profitability & stability. Residents also enjoy the onsite laundry, ample off-street parking, and prime location in the Ivywild & North Nevada Redevelopment corridor. The property’s proximity near Hwy 25 & Downtown Colorado Springs provides easy access to major transportation and nearby amenities, including upscale dining such as Prime 25, retail shops like Lululemon, Veda Spa, and two major grocery stores including the newly constructed Sprouts Farmers Market.
Property Facts
| Price | £2,327,550 | Building Class | C |
| Price Per Unit | £136,915 | Lot Size | 0.32 AC |
| Sale Type | Investment | Building Size | 13,440 SF |
| Net Initial Yield | 5.41% | Average Occupancy | 100% |
| No. Units | 17 | Number of Floors | 3 |
| Property Type | Residential | Year Built | 1968 |
| Property Subtype | Apartment | Parking Ratio | 1.49/1,000 SF |
| Apartment Style | Low Rise |
| Price | £2,327,550 |
| Price Per Unit | £136,915 |
| Sale Type | Investment |
| Net Initial Yield | 5.41% |
| No. Units | 17 |
| Property Type | Residential |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | C |
| Lot Size | 0.32 AC |
| Building Size | 13,440 SF |
| Average Occupancy | 100% |
| Number of Floors | 3 |
| Year Built | 1968 |
| Parking Ratio | 1.49/1,000 SF |
Unit Amenities
- Heating
- Kitchen
- Range
Site Amenities
- Laundry Facilities
Unit Mix Information
| Description | No. Units | Avg. Rent.Mo | SF |
|---|---|---|---|
| 1+1 | 7 | £794.52 | 766 |
| 2+1 | 10 | £878.16 | 850 |
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Walk Score ®
Very Walkable (78)
Bike Score ®
Very Bikeable (73)
PROPERTY TAXES
| Parcel Number | 64194-12-025 | Improvements Assessment | £89,338 |
| Land Assessment | £2,777 | Total Assessment | £92,116 |
PROPERTY TAXES
Parcel Number
64194-12-025
Land Assessment
£2,777
Improvements Assessment
£89,338
Total Assessment
£92,116
zoning
| Zoning Code | C-5,Colorado Springs |
| C-5,Colorado Springs |
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Cushman & Wakefield
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Brookside(Ivywild) Apartments- Assumable Loan | 316 E Brookside
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