817 & 819 E San Miguel Street, Colorado Springs, CO 80903

$1,840,000
3
BD
3
BA
List Price
$1,840,000
Status
Under Contract - Showing
MLS#
9264671
Days on Market
13
Property Type
Aptmts(6+Units)
Bedrooms
3
Bathrooms
3
Lot Size
23,600
Acres
0.5418
County
El Paso
Neighborhood
Hastings Bros
Year Built
1986

Property Description

This is it! Your opportunity to own one of the best boutique residential apartment buildings in town. Newer buildings mostly updated with great rental history in one of the best spots in town. Great investment! Not happy to let this go. This 12-unit Claire Creek apartments are 2 separate buildings located in the coveted Patty Jewett residential neighborhood; just blocks from the golf course & booming downtown CO Springs. Sits on 2 large lots totaling over 1/2 acre right on Claire Creek. You get the desirable Victorian style but not the problems as they were built solid in 1986. Each building contains 6 apartments, each with 4 main level 1-bedroom/1-bath apartments on each of the 4 corners & 2 upper level 2-bedroom/2-bath apartments, all with vaulted ceilings. Every apartment has it's own wood burning fireplace, 12 total, & each has it's own private deck but 2. Twenty+ off street designated parking spots. Each unit is separately metered. Owner pays all utilities and trash. Excellent rental history with outstanding tenants. Only vacancies were recently purposeful over the last 3-4 years while owner did substantial renovations to 8 of the 12 apartments. A 1Bdrm apartment is in process of being renovated now and can be viewed on short notice; and several major exterior improvements to take place over next 4-5 weeks. improvements over the years & many large improvements such as newer roof & complete overhaul to both boilers for efficient heating. To occur soon: Exterior to be repaired/prepped & painted, new exterior lighting, repair of front sidewalk & new tile in entrances & laundry rooms. Little maintenance needed to operate. Rents are well below market. Best if buyer takes over solid assumable loan with good terms. Buyer may even be able to split up the buildings and sell separately in the future.

Additional Information

School District
Colorado Springs
Parking Spaces
20
Siding
Wood
Fireplaces
Wood, See Prop Desc Remarks
Tax Year
2020
Tax
$5,227
Existing Utilities
Cable, Electricity, Natural Gas, Telephone
Appliances
Disposal, Dryer, Range Oven, Refrigerator, Washer
Existing Water
Municipal
Structure
Wood Frame
Roofing
Composite Shingle
Laundry Facilities
Coin
Basement Foundation
Crawl Space
Optional Notices
Broker Owned, Established Rental History
Fence
None
Total Num Units
2
Unit 1 Baths
1
Unit 1 Beds
1
Unit 1 Monthly Rent
$940
Unit 1 Sqft
550
Unit 2 Baths
2
Unit 2 Beds
2
Unit 2 Monthly Rent
$1,205
Unit 2 Sqft
900

Mortgage Calculator

Amount of Loan
Annual Interest Rate
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Term of Loan
Years

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Please consult a financial professional.
Calculator source: Real Geeks

Listing courtesy of 00001154-Elijah Nathaniel Muhl.


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