Colorado Springs, CO 80916,315 Vehr DR
Colorado Springs, CO 80916,315 Vehr DR
Colorado Springs, CO 80916,315 Vehr DR
Colorado Springs, CO 80916,315 Vehr DR
Colorado Springs, CO 80916,315 Vehr DR
Colorado Springs, CO 80916,315 Vehr DR
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$550,000

$680,000

19.1%
Est.Price: ?

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Est. payment /mo

10 Beds

4 Baths

3,745 SqFt


SOLD DATE : 05/24/2023

Key Details

Sold Price $550,000

Property Type Multi-Family

Sub Type Quadplex

Listing Status Sold

Purchase Type For Sale

Square Footage 3,745 sqft

Price per Sqft $146

Subdivision Eastborough

MLS Listing ID 7679737

Sold Date 05/24/23

Bedrooms 10

HOA Y/N No

Abv Grd Liv Area 3,745

Originating Board recolorado

Year Built 1972

Annual Tax Amount $1,698

Tax Year 2022

Lot Size 8,712 Sqft

Acres 0.2

Property Description

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.

Location

State CO

County El Paso

Zoning R5 AO

Interior

Heating Electric

Cooling Air Conditioning-Room, Central Air

Fireplace N

Laundry Common Area

Exterior

Roof Type Architecural Shingle

Total Parking Spaces 6

Garage No

Building

Sewer Public Sewer

Level or Stories Two

Structure Type Brick,EIFS

Schools

Elementary Schools Roosevelt-Edison Charter School

Middle Schools Swigert

High Schools Mitchell

School District Colorado Springs 11

Others

Senior Community No

Ownership Individual

Acceptable Financing 1031 Exchange, Cash, Conventional, FHA, VA Loan

Listing Terms 1031 Exchange, Cash, Conventional, FHA, VA Loan

Special Listing Condition None

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REColorado (REColorado MLS)
Listed by Pinnacle Real Estate Advisors • cmitelhaus@pinnaclerea.com,303-881-4291
Bought with LPT Realty
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