REQUEST A TOUR If you would like to see this home without being there in person, select the "Virtual Tour" option and your agent will contact you to discuss available opportunities.

In-PersonVirtual Tour

Jennifer Berg

jennifermberg@icloud.com +1(720) 272-1171

$800,000

Est. payment - /mo

Save

UPDATED:

Key Details

Property Type Multi-Family, Commercial

Sub Type Multi Family

Listing Status Active

Purchase Type For Sale

MLS Listing ID 2218636

HOA Y/N No

Year Built 1965

Property Sub-Type Multi Family

Property Description

Cushman & Wakefield is pleased to present 311 University Drive, a five-unit, 4,508 SF multifamily property in southeast Colorado Springs. The property is 100% occupied with leases running through 2027, and base rent is $6,385 per month. The unit mix is larger than typical for a five-unit asset: four 2-bedroom units and one 3-bedroom, for 11 bedrooms and 9 bathrooms.
Ownership has invested more than $158,000 in capital improvements since 2024, roughly 20% of the asking price. Work includes a new Class 4 impact-resistant roof, a new metal and concrete staircase, multiple furnace replacements, xeriscape landscaping, new fencing, and more than $100,000 of interior renovations. The renovations added LVP flooring, updated paint, and new vanities, lighting and plumbing fixtures. The property is in southeast Colorado Springs, near Peak Innovation Park, a 1,600-acre master-planned business park at the entrance to the Colorado Springs Airport. The park already counts Amazon, Frito-Lay,
Northrop Grumman and The Aerospace Corporation among its tenants. Growth is continuing, with a 620,000-square-foot Swire Coca-Cola plant announced and 252,890 square feet of new Class A industrial space under construction. Its manageable unit count and existing building footprint may appeal to investors seeking a smaller multifamily property with potential for operational improvements, rental income growth, and long-term appreciation.

Location

State CO

County El Paso

Zoning R-5 AO

Exterior

Private Pool No

Building

Sewer Public Sewer

Others

Tax ID 64154-01-032

Read Less Info

Listed byCushman & Wakefield

Schools and Properties Nearby

I'm Jennifer Berg, a Colorado Real Estate Broker with over 18 years guiding buyers in the Denver Metro area. Whether you are a first-time home buyer or seasoned investor, I'll dedicate myself to building a working relationship to make the process smooth and enjoyable.

I am Vice Chair at South Metro Denver REALTOR Association Young Professionals Network. Staying involved with other professionals in the industry allows me to keep current on market trends and connect you with my network of sellers.

+1(720) 272-1171

jennifermberg@icloud.com

Learn more about this property

311 University DR Colorado Springs, CO 80910