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4340 Ericson DR Colorado Springs, CO 80906
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Key Details
Sold Price $715,000
Property Type Multi-Family
Sub Type Quadplex
Listing Status Sold
Purchase Type For Sale
Square Footage 2,880 sqft
Price per Sqft $248
Subdivision Stratmoor Hills
MLS Listing ID 2434066
Sold Date 06/12/23
Bedrooms 8
HOA Y/N No
Abv Grd Liv Area 2,880
Originating Board recolorado
Year Built 1969
Annual Tax Amount $1,352
Tax Year 2022
Property Description
This 4-unit value-add apartment building presents a unique opportunity for investors to acquire an income-generating asset in a highly desirable market. With the potential for increased rents through targeted renovations, this property has the potential to provide significant returns for new owners. Value-add investors can significantly enhance the property's income potential through unit updates and increasing rents to market levels. The building is situated on a 7,040-square-foot lot, south of downtown Colorado Springs and is located within minutes of major highways and public transportation, providing convenient access to all that the city has to offer. 4340 Ericson Dr features an excellent unit mix comprised of four 2-bedroom 1-bathroom units, with laundry
hookups. The property is situated in Statmoor Hills and features stunning mountain views and ample off-street parking for the tenants.
Location
State CO
County El Paso
Zoning RM-30
Rooms
Basement Crawl Space
Interior
Heating Electric
Cooling None
Fireplace N
Exterior
Roof Type Architecural Shingle
Total Parking Spaces 6
Garage No
Building
Sewer Public Sewer
Level or Stories One
Structure Type Brick, Wood Siding
Schools
Elementary Schools Stratmoor Hills
Middle Schools Fox Meadow
High Schools Harrison
School District Harrison 2
Others
Senior Community No
Ownership Individual
Acceptable Financing 1031 Exchange, Cash, Conventional, FHA, VA Loan
Listing Terms 1031 Exchange, Cash, Conventional, FHA, VA Loan
Special Listing Condition None
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6455 S. Yosemite St., Suite 500 Greenwood Village, CO 80111 USA
Bought with Atlas Real Estate Group