Westside Station | 25 N 31st St
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Westside Station 25 N 31st St
24 Unit Apartment Building For Sale Colorado Springs, CO 80904
Investment Highlights
- The diverse unit mix features primarily two-bedroom units, with seven one-bedrooms and a single studio as well.
- Westside Station is in highly desirable Old Colorado City and is walking distance to several trendy restaurants, bars and entertainment options.
- Units are all thoroughly renovated and feature granite countertops, modern cabinetry, stainless steel appliances and new LVP flooring throughout.
- There is ample parking for tenants. The building has newer exterior paint, a community BBQ area and a private dog park.
Executive Summary
MMG is pleased to present Westside Station, a 24-unit multifamily property ideally situated in Western Colorado Springs, adjacent to the picturesque Garden of the Gods Park. The property boasts a diverse unit mix, predominantly featuring two-bedroom units, complemented by seven one-bedroom units and a studio. All units have been meticulously renovated to offer modern living with granite countertops, contemporary cabinetry, stainless steel appliances, and new LVP flooring. Westside Station's prime location in Old Colorado City offers residents convenient access to a vibrant neighborhood with trendy dining, nightlife, and entertainment options within walking distance. Additionally, the property provides ample tenant parking, recent exterior enhancements, a communal BBQ area, and a private dog park. This offering presents an exceptional opportunity for investors seeking a well-positioned, updated multifamily asset in a desirable submarket of Colorado Springs.gs.
Financial Summary (Actual - 2023) Click Here to Access |
Annual (CAD) | Annual Per SF (CAD) |
|---|---|---|
| Gross Rental Income |
-
|
-
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Actual - 2023) Click Here to Access
| Gross Rental Income (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Other Income (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
| Sale Type | Investment | Lot Size | 0.65 AC |
| No. Units | 24 | Building Size | 18,192 SF |
| Property Type | Multifamily | Average Occupancy | 100% |
| Property Subtype | Apartment | No. Stories | 3 |
| Apartment Style | Low Rise | Year Built | 1972 |
| Building Class | C | Parking Ratio | 4.12/1,000 SF |
| Sale Type | Investment |
| No. Units | 24 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | C |
| Lot Size | 0.65 AC |
| Building Size | 18,192 SF |
| Average Occupancy | 100% |
| No. Stories | 3 |
| Year Built | 1972 |
| Parking Ratio | 4.12/1,000 SF |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 7 | $1,761 CAD | 750 |
| 2+1 | 16 | $1,976 CAD | 762 |
| Studios | 1 | $1,437 CAD | 750 |
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Walk Score ®
Very Walkable (79)
Bike Score ®
Very Bikeable (80)
PROPERTY TAXES
| Parcel Number | 74034-21-005 | Improvements Assessment | $221,168 CAD (2022) |
| Land Assessment | $19,448 CAD (2022) | Total Assessment | $240,616 CAD (2022) |
PROPERTY TAXES
Parcel Number
74034-21-005
Land Assessment
$19,448 CAD (2022)
Improvements Assessment
$221,168 CAD (2022)
Total Assessment
$240,616 CAD (2022)
zoning
| Zoning Code | R5 |
| R5 |
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Westside Station | 25 N 31st St
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