See Home Value
$550,000
Multifamily - Off Market

315 Vehr Drive

Colorado Springs, CO 80916
bedrooms
10 Beds
bathrooms
4 Baths
square feet
3745 Sqft
$685,272
RealtyHop Estimate
0.78%
Since Jun 1, 2023
National-US
Primary Model

About This Property

This 4-unit value-add apartment building presents a unique opportunity for investors to acquire an income-generating asset in a highly desirable market. With the potential for increased rents through targeted renovations, this property has the potential to provide significant returns for new ownership. Value-add investors can significantly enhance the property's income potential through unit updates, increasing rents to market levels, and capitalizing on laundry and storage income. The building is situated on an 8,500-square-foot lot, just east of downtown Colorado Springs and is located within minutes of major highways and public transportation, providing convenient access to all that the city has to offer. 315 Vehr features an excellent unit mix comprised of 2-bedroom and 3-bedroom units, with on-site storage and laundry hookups for coin-operated laundry. The property sits northwest of the Colorado Springs Airport and offers ample off-street parking for the tenants.
Unit Size
3,745Ft²
Days on Market
30 days
Land Size
0.20 acres
Price per sqft
$182
Property Type
Multifamily
Property Taxes
$142
HOA Dues
-
Year Built
1978
Last updated: 15 days ago (REcolorado MLS #REC7679737)

Price History

Date / Event Date Event Price
May 25, 2023 Sold to Adrian Sandoval, Blanca Est... $550,000
Sold to Adrian Sandoval, Blanca Est...
Apr 24, 2023 Listed by Pinnacle Real Estate Advisors $680,000
Listed by Pinnacle Real Estate Advisors

Property Highlights

Air Conditioning
Parking Details
Total Number of Parking: 6
Exterior Details

Property Information

Property Type: Residential Income
Property Sub Type: Quadplex
Year Built: 1972

Building Information

Levels: Two
Structure Type: Quadruplex
Building Area Total: 8500
Construction Methods: Brick, EIFS
Roof: Architecural Shingle

Lot Information

Lot Size Acres: 0.2
Lot Size Square Feet: 8500


Comparables

Unit
Status
Type
Beds
Baths
ft²
Price/ft²
Asking Price
Listed On
Closing Price
Sold On
HOA + Taxes
Multifamily
11 Beds
7 Baths
4,508 ft²
$154/ft²
$692,500 Nov 2, 2023
$692,500 Feb 29, 2024
$135/mo
Multifamily
10 Beds
4 Baths
3,707 ft²
$196/ft²
$725,000 Apr 10, 2024
-
$130/mo
Multifamily
6 Beds
4 Baths
2,652 ft²
$289/ft²
$766,660 Nov 14, 2023
-
$102/mo

Past Sales

Date Unit Beds Baths Sqft Price Closed Owner Listed By
20230424
04/24/2023
10 Bed
4 Bath
3745 ft²
$680,000
bedrooms
10 Bed
bathrooms
4 Bath
square feet
3745 ft²
$550,000 -19.12%
05/25/2023
Charlie Mitelhaus
Pinnacle Real Estate Advisors

Building Info

315 Vehr Drive 315 Vehr Drive, Colorado Springs, CO 80916
More about this Building
315 Vehr Drive
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About Powers


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