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$1,840,000

20% Min Down
Entire Building
Listed Aug 1st, 2020, Built in 1986
Showsheet
Common Charges
$0
Property Taxes
$5,228
Mortgage
$6,817
Total Monthly Payment
$12,045
Est. Rental Income
$0
Cap Rate
No Data
Description
This is it! Your opportunity to own one of the best residential apartments in town. Newer buildings mostly updated with great rental history in one of the best spots in town. Great investment. This 12-unit Claire Creek apartments are 2 separate buildings located in the coveted Patty Jewett residential neighborhood; just blocks from the golf course & booming downtown CO Springs. Sits on 2 large lots totaling over 1/2 acre right on Claire Creek. You get the desirable Victorian style but not the problems as it was built solid in 1986. Each building contains 6 apartments, each with four main level 1-bedroom/1-bath apartments on each of the 4 corners & 2 upper level 2-bedroom/2-bath apartments with vaulted ceilings. Every apartment has it's own wood burning fireplace, 12 total, & each has it's own private deck but two. 20+ off street designated parking spots. Each unit is separately metered. Owner pays all utilities and trash. Excellent rental history with outstanding tenants. Only vacancies were purposeful over the last 3-4 years while owner did substantial renovations to 8 of the 12 apartments. One apartment in process of being renovated now. Over $300k in improvements over the years and many large improvements such as newer roof, complete overhaul to both boilers for efficient heating. To happen soon: Exterior to be repaired/prepped & painted, new exterior lighting, repair of front sidewalk & new tile in entrances & laundry rooms. Little maintenance needed to operate. Rents are well below market. Additional income from 2 sets of coin-operated laundry machines. Best if buyer takes over desirable assumable loan with good terms. Beer may even be able to split up the buildings and sell separately in the future. One unit is available to see with notice. Phew!
Features & Amenities
Fireplace
Exterior: Wood
Hot Water
Price History
Date Event Price Source
Recent Inactive Public Records
2020-08-03 Status Change Off Market Listing Records
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Recent Transactions at 817 & 819 E San Miguel Street
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Nearby Schools

(within attendance boundary)
TAYLOR ELEMENTARY SCHOOL  •  0.18 mi
900 East Buena Ventura Street, Colorado Springs, CO 80907
Public  •  Elementary  •  Grades KG to 5
Colorado Springs School District 11
NORTH MIDDLE SCHOOL  •  0.32 mi
612 East Yampa Street, Colorado Springs, CO 80903
Public  •  Middle School  •  Grades 6 to 8
Colorado Springs School District 11
PALMER HIGH SCHOOL  •  1.08 mi
301 North Nevada Avenue, Colorado Springs, CO 80903
Public  •  High School  •  Grades 9 to 12
Colorado Springs School District 11
School zoning information and other data are provided by RealtyHop Schools and 3rd party sources. The contents of the database are not guaranteed to be accurate or timely. Contact the schools or districts before making any decisions using on this data.
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