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6670-6690 Pahokee Ct 6670-6690 Pahokee Ct

8 Unit Apartment Building $1,370,000 ($171,250/Unit) 6.10% Cap Rate Colorado Springs, CO 80915

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Investment Highlights

Desirable location near retail, dining, and employment hubs including Powers Corridor, Peterson Space Force Base, and Peak Innovation Park.
Flexible Financing: Opportunity to finance as an 8-unit commercial product ~or~ two separate residential four-unit properties.

Well-maintained asset with significant capital improvements including 5 unit renovations, new double pane vinyl windows, and repaved lot.

Executive Summary

Cushman & Wakefield is pleased to present 6670-6690 Pahokee Ct an exceptional multifamily real estate offering located in East Colorado Springs, Colorado. 6670-6690 Pahokee Ct is an 8-unit multifamily property located in Cimarron Hills, minutes from the Powers Corridor and Peterson Space Force Base. This turn-key property features a desirable unit mix of all 850 square foot 2-bedroom and 1-bathroom units.
This well-maintained asset has received significant capital improvements including a new asphalt parking lot, updated stucco exterior, updated double-pane vinyl windows, 5-unit renovations, and much more. The property also features individual gas and electric meters, with tenants paying full utility reimbursements. The property currently has below market rents with four leases turning before the end of the year and up to $200 -$300 premiums on those leases. These two-bed units feature large bedrooms and fireplaces. Tenants also have access to on-site coin operated laundry.
Boasting a prime location and easy accessibility to a plethora of dining options, shopping destinations, and entertainment venues, this property presents an ideal living experience for residents. The property offers plenty of parking for tenants & extra storage facilities. Situated with easy access to Powers Blvd & HWY 24, residents can enjoy seamless commutes and convenient connectivity to surrounding areas. 6670-6690 Pahokee Ct presents an incredible opportunity to enhance value through loss to lease recapture and continued property improvements.

6670-6690PahokeeCt-OM-CushmanWakefield

Property Facts

Price	$1,370,000	Building Class	C
Price Per Unit	$171,250	Lot Size	0.56 AC
Sale Type	Investment	Building Size	6,836 SF
Cap Rate	6.10%	Average Occupancy	88%
No. Units	8	No. Stories	2
Property Type	Multifamily	Year Built	1983
Property Subtype	Apartment	Opportunity Zone	Yes State officials designate a portion of qualified Census Tracts to be Opportunity Zones. Certain investments in Opportunity Zones may be eligible for preferential tax treatment.

Price	$1,370,000
Price Per Unit	$171,250
Sale Type	Investment
Cap Rate	6.10%
No. Units	8
Property Type	Multifamily
Property Subtype	Apartment
Building Class	C
Lot Size	0.56 AC
Building Size	6,836 SF
Average Occupancy	88%
No. Stories	2
Year Built	1983
Opportunity Zone	Yes State officials designate a portion of qualified Census Tracts to be Opportunity Zones. Certain investments in Opportunity Zones may be eligible for preferential tax treatment.