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1430-1470 S Chelton Rd
Colorado Springs, CO 80910
Park View Apartments · Multifamily Property For Sale
·
100 Units
INVESTMENT HIGHLIGHTS
- Attractive Value-Add Opportunity with Balance of Studio, One-, & Two-Bedroom Units
- Strong Lifestyle & Quality of Life Appeal with Property Minutes from Garden of the Gods, Pikes Peak, and Cheyenne Mountain State Park
- Proximity to Major Employment Drivers Including Peterson Space Force Base, Fort Carson, and the U.S. Air Force Academy
EXECUTIVE SUMMARY
Marcus & Millichap is pleased to present Park View Apartments, a 100-unit multifamily community located at 1430–1470 S Chelton Road in Colorado Springs, Colorado. Built in 1983, this garden-style asset offers a well-balanced and efficient unit mix comprised of 60 studio units, 20 one-bedroom units, and 20 two-bedroom units, providing flexibility and appeal to a broad range of renter profiles. The property’s units feature functional layouts, and select apartments have received recent interior upgrades, creating an attractive platform for further renovations.
A compelling value-add opportunity exists via continued unit modernization, including upgraded appliances, flooring, cabinetry, and finishes. This strategy would allow an investor to increase rents in line with competing properties in the submarket while capitalizing on in-place income. The proven demand for upgraded workforce housing in the immediate area creates a clear path to value enhancement and income growth, particularly in the Southeast Colorado Springs submarket.
A compelling value-add opportunity exists via continued unit modernization, including upgraded appliances, flooring, cabinetry, and finishes. This strategy would allow an investor to increase rents in line with competing properties in the submarket while capitalizing on in-place income. The proven demand for upgraded workforce housing in the immediate area creates a clear path to value enhancement and income growth, particularly in the Southeast Colorado Springs submarket.
PROPERTY FACTS
| Sale Type | Investment | Lot Size | 3.81 AC |
| No. Units | 100 | Building Size | 80,000 SF |
| Property Type | Multifamily | Average Occupancy | 93% |
| Property Subtype | Apartment | No. Stories | 2 |
| Apartment Style | Garden | Year Built | 1983 |
| Building Class | C | Parking Ratio | 2/1,000 SF |
| Zoning | R-5 | ||
| Sale Type | Investment |
| No. Units | 100 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 3.81 AC |
| Building Size | 80,000 SF |
| Average Occupancy | 93% |
| No. Stories | 2 |
| Year Built | 1983 |
| Parking Ratio | 2/1,000 SF |
| Zoning | R-5 |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Cable Ready
- Disposal
- Microwave
- Heating
- Kitchen
- Refrigerator
- Oven
- Range
- Tub/Shower
- Carpet
- Grill
- Vinyl Flooring
SITE AMENITIES
- 24 Hour Access
- Controlled Access
- Laundry Facilities
- Playground
- Spa
- Basketball Court
- Grill
- Smoke Detector
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| Studios | 60 | - | 440 |
| 1+1 | 20 | - | 520 |
| 2+1 | 20 | - | 725 - 745 |
PROPERTY TAXES
| Parcel Number | 64223-12-010 | Improvements Assessment | $0 CAD |
| Land Assessment | $0 CAD | Total Assessment | $1,223,620 CAD |
PROPERTY TAXES
Parcel Number
64223-12-010
Land Assessment
$0 CAD
Improvements Assessment
$0 CAD
Total Assessment
$1,223,620 CAD
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