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2001-2019 Carmel Dr
Colorado Springs, CO 80910

Marmont Springs Apartments · Multifamily 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.

PROPERTY FACTS

Sale Type Investment
Cap Rate 6%
No. Units 87
Property Type Multifamily
Property Subtype Apartment
Apartment Style Low Rise
Building Class C
Building Size 53,316 SF
Average Occupancy 89%
No. Stories 3
Year Built 1970

Unit Mix Information

Description No. Units Avg. Rent/Mo SF
1+1 87 $916.00 450 - 625

PROPERTY TAXES

PROPERTY TAXES

Parcel Number
64273-07-015
Land Assessment
$34,800
Improvements Assessment
$304,850
Total Assessment
$339,650

zoning

Zoning Code R-5, Colorado Sprgs
R-5, Colorado Sprgs
  • Listing ID: 33128196

  • Date on Market: 9/10/2024

  • Last Updated:

  • Address: 2001-2019 Carmel Dr, Colorado Springs, CO 80910

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