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Red Rocks Terrace Apartments Acquired for $1,745,000; 23 Unit Multifamily Asset in Colorado Springs

Posted by Unique News Team on August 2, 2017
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Colorado Springs, CO (August 1, 2017) — Greystone Unique Apartment Group, multifamily division of Unique Properties, Inc., Colorado’s most experienced, privately held, full-service commercial real estate brokerage firm, recently brokered the sale of Red Rocks Terrace Apartments, a 23-unit multifamily asset, located at 3164 West Colorado Avenue in Colorado Springs, CO. The Property sold for $1,745,000 or $75,869 per unit and closed on July 24, 2017.

3164 W Colorado Avenue is a 15,946-square foot property constructed in 1972. The Property consists of a unit mix of 3 studios, 16 one bedroom units and 4 two bedroom units. At the time of sale, the Property was In need interior renovations. Well located in Colorado Springs, the Property is within minutes to Garden of the Gods and Downtown Colorado Springs. The Buyer was attracted to the value add opportunity and prime location in one of Colorado’s highest demanded markets, Colorado Springs. New ownership intends to renovate the Property and hold long term for future cash flow.

To schedule an interview with an advisor regarding this transaction or for more information about Greystone Unique Apartment Group, please contact: Zach Hansen at zhansen@uniqueprop.com or 303.645.4787.

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