Log In/Sign Up
Your email has been sent.
1512-1518 S Corona Ave 14 Unit Apartment Building $3,002,936 CAD ($214,495 CAD/Unit) 8.83% Cap Rate Colorado Springs, CO 80905
Investment Highlights
- • 14-Unit Stabilized Multifamily Asset (100% Occupied)
- • $192,080 Trailing 12-Month NOI
- • Turnkey Renovation – All units remodeled and all major Systems Updated (2024–2025)
- • $17,965 Total Monthly Rents (Incl. Pet Rent)
- • 8.8% In-Place Cap Rate
- • RUB Utility Reimbursement System Enhances NOI Stability
Executive Summary
1512 & 1518 S Corona Ave presents a rare opportunity to acquire a 14-unit stabilized multifamily asset in Colorado Springs, Colorado. This turnkey investment delivers immediate cash flow with institutional-quality operating performance, supported by a proven rent roll and exceptionally low expense structure.
The property is fully occupied with 14 leased one-bedroom/one-bath units (420–450 SF) and generates $17,965 in monthly rental income including pet rent. Trailing twelve-month financials reflect $228,840 in gross income and $192,080 in NOI, producing an attractive 8.8% in-place cap rate with an operating expense ratio of only 16%.
All major capital improvements have been completed within the last 24 months, including new appliances, flooring, windows, doors, electrical upgrades (2025), and roof replacement on the 1518 building (2024). A RUB utility reimbursement system further enhances NOI stability and offsets operating costs.
Located in one of Colorado’s fastest-growing markets, Colorado Springs benefits from a diverse employment base anchored by military and defense installations including Fort Carson, Peterson Space Force Base, and Schriever Space Force Base. Area average market rents approach $1,800/month, positioning the asset for continued rent growth and long-term appreciation.
This offering is ideally suited for cash-flow investors, owner-operators, and 1031 exchange buyers seeking stabilized income with embedded upside.
The property is fully occupied with 14 leased one-bedroom/one-bath units (420–450 SF) and generates $17,965 in monthly rental income including pet rent. Trailing twelve-month financials reflect $228,840 in gross income and $192,080 in NOI, producing an attractive 8.8% in-place cap rate with an operating expense ratio of only 16%.
All major capital improvements have been completed within the last 24 months, including new appliances, flooring, windows, doors, electrical upgrades (2025), and roof replacement on the 1518 building (2024). A RUB utility reimbursement system further enhances NOI stability and offsets operating costs.
Located in one of Colorado’s fastest-growing markets, Colorado Springs benefits from a diverse employment base anchored by military and defense installations including Fort Carson, Peterson Space Force Base, and Schriever Space Force Base. Area average market rents approach $1,800/month, positioning the asset for continued rent growth and long-term appreciation.
This offering is ideally suited for cash-flow investors, owner-operators, and 1031 exchange buyers seeking stabilized income with embedded upside.
Data Room Click Here to Access
- Market Information
- Operating and Financials
Financial Summary (Actual - 2025) Click Here to Access |
Annual (CAD) | Annual Per SF (CAD) |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
$99,999
|
$9.99
|
| Vacancy Loss |
$99,999
|
$9.99
|
| 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 - 2025) Click Here to Access
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| 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
| Price | $3,002,936 CAD | Building Class | C |
| Price Per Unit | $214,495 CAD | Lot Size | 0.75 AC |
| Sale Type | Investment | Building Size | 6,055 SF |
| Cap Rate | 8.83% | Average Occupancy | 100% |
| No. Units | 14 | No. Stories | 1 |
| Property Type | Multifamily | Year Built/Renovated | 1954/2024 |
| Property Subtype | Apartment | Parking Ratio | 4.62/1,000 SF |
| Apartment Style | Low-Rise | ||
| Zoning | MX-M - a mix of commercial, retail, office, multi-family residential, and civic. May be horizontally or vertically mixed | ||
| Price | $3,002,936 CAD |
| Price Per Unit | $214,495 CAD |
| Sale Type | Investment |
| Cap Rate | 8.83% |
| No. Units | 14 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.75 AC |
| Building Size | 6,055 SF |
| Average Occupancy | 100% |
| No. Stories | 1 |
| Year Built/Renovated | 1954/2024 |
| Parking Ratio | 4.62/1,000 SF |
| Zoning | MX-M - a mix of commercial, retail, office, multi-family residential, and civic. May be horizontally or vertically mixed |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 14 | - | - |
1 1
Fairly walkable
50/100
Exceptionally drivable
90/100
Limited public transit
30/100
Fairly bikeable
50/100
Property Taxes
| Parcel Numbers | Improvements Assessment | $0 CAD | |
| Land Assessment | $0 CAD | Total Assessment | $168,896 CAD |
Property Taxes
Parcel Numbers
Land Assessment
$0 CAD
Improvements Assessment
$0 CAD
Total Assessment
$168,896 CAD
1 of 59
Videos
Matterport 3D Exterior
Matterport 3D Tour
Photos
Street View
Street
Map
1 of 1
Presented by
1512-1518 S Corona Ave
Already a member? Log In
Hmm, there seems to have been an error sending your message. Please try again.
Thanks! Your message was sent.