Colorado Springs, CO 80906,4340 Ericson DR
$715,000
$745,000
4.0%
Est.Price: ?

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8 BD
4 BA
2,880 SqFt

4340 Ericson DR Colorado Springs, CO 80906

Est. payment /mo
SOLD DATE : 06/12/2023

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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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REColorado (REColorado MLS)
Listed by Pinnacle Real Estate Advisors • cmitelhaus@pinnaclerea.com,303-881-4291
Bought with Atlas Real Estate Group

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agent

Calley Berken

Broker | License ID: 40014008

+1(303) 829-1831

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