Prairie Arms Apartments 411-413 Prairie Rd 12 Unit Apartment Building $2,766,846 CAD ($230,570 CAD/Unit) 6.40% Cap Rate Colorado Springs, CO 80909

Cushman & Wakefield is pleased to present Prairie Arms Apartments, a 12 unit property that has undergone a comprehensive and full renovation, ensuring that all capital expenditure (CapEx) items have been completed to enhance its overall value and appeal. Key upgrades include the renovation of all units, the addition of in-unit washers and dryers, resealing and striping of the parking lot, and a fresh exterior paint job. These improvements position the property in excellent condition, making it a highly attractive option for investors.
Prairie Arms Apartments is strategically positioned to generate significant operational value through rent increases as existing leases roll over. With large, spacious units that feature modern updates, tenants will benefit from both comfort and functionality. Additionally, the property’s location near the Olympic Training Center and a short drive to downtown provides a unique advantage, appealing to a wide demographic of potential tenants. This is a stabilized deal with immediate and ongoing value creation opportunities, making it an attractive investment with strong future upside potential.