Colorado Springs Multifamily Asset Sells for $705,000

August 29, 2016

Colorado Springs, CO (August 29, 2016) — Unique Apartment Group (UAG), multifamily division of Unique Properties, Inc., Colorado’s most experienced, privately-held, full service commercial real estate brokerage firm, recently brokered the sale of an 11-unit multifamily asset located at 1411 South Corona Street in Colorado Springs, Colorado. The Property sold for $705,000 or $64,090 per unit. UAG represented both the buyer and seller and the transaction closed on August 15, 2016.

1411 South Corona Street has 8,265 net rentable square feet and a unit mix of two 1 bedroom units averaging 600 square feet and nine 2-bedroom units averaging 800 square feet. Constructed in 1964, the Property is a two story exterior walkup building. Prior to marketing the Property, the Seller stabilized the Property by increasing its rents. The Property is located along South Nevada Street which is currently a corridor that is undergoing improvements and development that reflect a bustling commercial district of new retail stores, restaurants and multifamily housing. The Buyer was attracted to the Property’s low vacancy rate and also saw a benefit to investing into a neighborhood that was achieving such great improvement and revitalization.

« Previous   Next »

New Listings Market Updates

Every property that Unique lists first is distributed to members on our mailing list. We don’t share your information or overstep our bounds. We just send quality information before it goes public!

CONTACT US                           ABOUT US