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Listed price in listed location currency (USD).
$800,000

006

MLS® 2218636

Overview

Key Facts

Type Multi Family
Levels Commercial Sale
Size 4508 sqft
Garage 
Taxes $2,446
Days Active 1
Lot Size 
Approx. Age 1965
Avg. Price Per Sqft $177
MLS® Number 2218636

Property Address: 311 University Dr, Colorado Springs, CO, 80910-2731

Average square foot calculated using Size range provided by listing agent.

Description

Cushman & Wakefield is pleased to present 311 University Drive, a five-unit, 4, 508 SF multifamily property in southeast Colorado Springs. The property is 100% occupied with leases running through 2027, and base rent is $6, 385 per month. The unit mix is larger than typical for a five-unit asset: four 2-bedroom units and one 3-bedroom, for 11 bedrooms and 9 bathrooms. Ownership has invested more than $158, 000 in capital improvements since 2024, roughly 20% of the asking price. Work includes a new Class 4 impact-resistant roof, a new metal and concrete staircase, multiple furnace replacements, xeriscape landscaping, new fencing, and more than $100, 000 of interior renovations. The renovations added LVP flooring, updated paint, and new vanities, lighting and plumbing fixtures. The property is in southeast Colorado Springs, near Peak Innovation Park, a 1, 600-acre master-planned business park at the entrance to the Colorado Springs Airport. The park already counts Amazon, Frito-Lay, Northrop Grumman and The Aerospace Corporation among its tenants. Growth is continuing, with a 620, 000-square-foot Swire Coca-Cola plant announced and 252, 890 square feet of new Class A industrial space under construction. Its manageable unit count and existing building footprint may appeal to investors seeking a smaller multifamily property with potential for operational improvements, rental income growth, and long-term appreciation.
MLS® Number2218636
Laundry Level
Central VacNo
FireplaceNo
Acreage
Exterior
Garage
Approx. Age1965
Basement
Driveway
Garage Spaces
Heat
A/C

Extras

Price History

Last Sold Price

$692,500$692.5K

Appreciation

--

Avg. Days Listed

44 days

Today, For Sale for $800,000

For Sale · 0 days

$800,000

MLS® 2218636

15 hours ago

Not Sold Yet

October 2026, For Sale for $800,000

For Sale · 0 days

$800,000

MLS® 2218636

15 hours ago

Not Sold Yet

December 2023, Sold for $692,500

Sold · 44 days

$692,500$699,995

MLS® 7234358

3 years ago

Sold on Dec 17, 2023

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