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1115 Old Dutch Mill Rd

4 Unit Apartment Building $750,000 ($187,500/Unit) 6.59% Cap Rate Colorado Springs, CO 80907

Investment Highlights

  • Recent Interior Unit Renovations: LVP Flooring & Carpet, LED Lighting, Fresh Paint.
  • Great unit mix with room for rent growth: Two units with a 2-bed, 1-bath layout and an additional two units with a 3-bed, 1-bath
  • Tenants Pay All Utilities: Net-zero utility expense via utility reimbursements.

Executive Summary

Cushman & Wakefield is pleased to present 1115 Old Dutch Mill Rd, a 4-unit multifamily property in an investor friendly, west side neighborhood in Colorado Springs. The property consists of two 2 bed/1 bath units and two 3 bed/1 bath units. Each unit offers spacious living and kitchen areas, two of the units feature balconies in the back of the building and all are individually metered for electric. The property has shared coin laundry, off-street parking, updated windows, a new roof in 2016 and has been well cared for by the long-term owner. Potential buyers have the operational value add of getting all units up to market rent and continuing property improvements.
This west side location provides residents access to major tech employers along west Garden of the Gods Rd as well as short drives to Garden of the Gods and downtown Colorado Springs. Its prime location, near outdoor recreation, dining & retail centers, provides a strong foundation for attracting and retaining quality long-term tenants. Ute Valley park is another nearby resident attraction that is known for hiking, mountain biking, dog walking, and running. The park offers vistas, geological features and destination-level trails, all readily accessible to outdoor enthusiasts in surrounding neighborhoods and the city. The attractiveness of this asset is magnified by the solid in place returns, flexible debt options and limited number of performing properties available in this market.

Data Room Click Here to Access

Property Facts

Price $750,000
Price Per Unit $187,500
Sale Type Investment
Cap Rate 6.59%
No. Units 4
Property Type Multifamily
Property Subtype Apartment
Apartment Style Low Rise
Building Class C
Lot Size 0.25 AC
Building Size 3,526 SF
Average Occupancy 75%
No. Stories 2
Year Built 1969
Parking Ratio 2.27/1,000 SF

Unit Amenities

  • Dishwasher
  • Carpet
  • Deck
  • Double Pane Windows
  • Porch

Site Amenities

  • Laundry Facilities
  • Trash Pickup - Curbside

Unit Mix Information

Description No. Units Avg. Rent/Mo SF
2+1 2 - -
3+1 2 - -

PROPERTY TAXES

PROPERTY TAXES

Parcel Number
73252-09-027
Land Assessment
$4,710
Improvements Assessment
$37,020
Total Assessment
$41,730

zoning

Zoning Code R4 (Residential)
R4 (Residential)
  • Listing ID: 32769919

  • Date on Market: 8/12/2024

  • Last Updated:

  • Address: 1115 Old Dutch Mill Rd, Colorado Springs, CO 80907

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