Active
1322 Arch Street
Colorado Springs CO, 80904
$700,000
$217.66 per sqft
Active
8 Beds
4 Baths
3,216 sqft
Multi-family
Built in 1973
Great up/down four-plex in a quiet location in South Colorado City right between Downtown Colorado Springs and Manitou Springs. Located a few blocks to a bus stop and with quick access to Highway 24. This fantastic income investment is fully occupied $56,461 current gross revenue (Jan 2025, annualized). Limited taxes have helped control operating expenses ($15,860, 2024). Our 2025 Pro Forma Net Operating Income os $40,246 in 2025 yielding a 5.75% cap rate. The property features nine (9) off-street parking spaces and each unit features laundry, individual gas heat and energy efficient heat pump ("mini-split") heating and cooling. Minutes to downtown Colorado Springs, close to recreation, dining and shopping. Fully leased with established renters.
New LVP flooring or new carpet in units, mostly updated bathrooms, kitchen improvements, newer appliances, washers and dryers. Newer furnaces and water heaters. Sewer lines to street replaced <15 years ago, composite roof replaced in 2018, newer interior and exterior paint. Owner recalls all furnaces replaced <10 years ago, just before they bought. Each unit has a storage locker. Plenty of parking on east and west side of building. Quiet community. Nice mountain views, close to nature. All units come with washer and dryer hookups.
Units are occupied. Do not disturb tenants. Tours are not allowed - please review photos. Access to the Property will be provided upon an accepted Contract to Buy and Sell. Exceptions will not be made - if working with a broker, please make sure they read the remarks BEFORE reaching out.
Possession will be subject to any/all tenant leases and any additional tenant's rights. Financials available upon request.
9935893
MLSⓇ ID
January 8, 2025
Listed
February 12, 2025
Updated
Interior Features
Total Stories
2
Bedrooms
8
Total Bathrooms
4
Appliances
Dishwasher, Range, Refrigerator
Laundry Description
In Unit
Fireplace
No
Cooling
Yes
Cooling Description
Air Conditioning-Room, Other
Heating
Yes
Heating Description
Forced Air, Heat Pump
Exterior/Building Features
Lot Size
0.2 Acres
Architectural Style
Contemporary
Roof
Composition
Sewer
Public Sewer
Patio And Porch
Deck
School Information
School District
Colorado Springs 11
High School
Coronado
Elementary School
Midland
Other Property Details
Taxes
$2,036
Tax Frequency
Annually
Garage
No
Parking Total
9
View
Yes
View Description
Mountain(s)
County
El Paso
Water Source
Public
Pool
No
Utilities
Cable Available, Electricity Connected, Internet Access (Wired), Natural Gas Connected, Phone Connected
Zoning
R2
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Data last updated 9:54 AM UTC, 2/12/2025
