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$625,000
Est. payment /mo
3,536 SqFt
UPDATED:
Key Details
Property Type Single Family Home
Sub Type Income Property
Listing Status Active
Purchase Type For Sale
Square Footage 3,536 sqft
Subdivision Pikes Peak Park Sub No 28 Resub Of Lot 1
MLS Listing ID 1929098
HOA Y/N false
Abv Grd Liv Area 3,536
Year Built 1984
Annual Tax Amount $2,390
Property Sub-Type Income Property
Source REcolorado
Property Description
Marcus & Millichap is pleased to present the exclusive opportunity to acquire 2481 and 2521 Astrozon Circle, two adjacent multifamily properties located in the high-demand Southeast submarket of Colorado Springs. Offered together or separately at a combined price of $1,275,000, these properties feature a total of eight units, seven of which have been recently renovated with updated flooring, modernized kitchens and bathrooms, and fresh interior finishes that appeal to today's renters. Six of the eight units have also been upgraded with mini-split air conditioning systems, offering enhanced climate control and energy efficiency.
This is a compelling operational value-add investment. The current owner has already completed nearly all of the interior capital improvements required to bring the properties up to market standards, significantly reducing the need for further capital expenditures in the near term. With the units in great condition and rents currently below market, there is immediate upside potential through lease turnover and rent increases, allowing a new investor to drive revenue growth without the burden of heavy renovation costs.
Situated in a well-established rental corridor near schools, shopping centers, public transportation, and major employment hubs, both properties are ideally located to attract and retain quality tenants. For investors seeking a clean, low-maintenance multifamily opportunity with in-place cash flow and strong rent growth potential, 2481 and 2521 Astrozon Circle offer a rare combination of stability and upside in one of Colorado's most dynamic rental markets.
This is a compelling operational value-add investment. The current owner has already completed nearly all of the interior capital improvements required to bring the properties up to market standards, significantly reducing the need for further capital expenditures in the near term. With the units in great condition and rents currently below market, there is immediate upside potential through lease turnover and rent increases, allowing a new investor to drive revenue growth without the burden of heavy renovation costs.
Situated in a well-established rental corridor near schools, shopping centers, public transportation, and major employment hubs, both properties are ideally located to attract and retain quality tenants. For investors seeking a clean, low-maintenance multifamily opportunity with in-place cash flow and strong rent growth potential, 2481 and 2521 Astrozon Circle offer a rare combination of stability and upside in one of Colorado's most dynamic rental markets.
Location
State CO
County El Paso
Area Out Of Area
Zoning R5 AO
Interior
Heating Forced Air
Exterior
Roof Type Other
Building
Story 2
Sewer City Sewer, Public Sewer
Level or Stories Two
Structure Type Wood Siding
New Construction false
Schools
Elementary Schools Giberson
Middle Schools Panorama
High Schools Sierra High
School District Harrison 2
Others
Senior Community false
SqFt Source Assessor
Special Listing Condition Private Owner
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Listed by Andrew Stephens • Marcus & Millichap Real Estate Investment Services of Atlanta, Inc. • andrew.stephens@marcusmillichap.com,303-328-2034