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318 Ruxton Ave 6 Unit Apartment Building Offered at $1,380,871 CAD at a 6.38% Cap Rate Manitou Springs, CO 80829
Investment Highlights
- Potential 7%+ cap rate investment via self-management
- Unique charm with riverside location
- Well maintained asset on nearly half acre of land
- Irreplaceable location in Manitou Springs
- All 1bd/1ba units that are rarely vacant
Executive Summary
NorthPeak Commercial Real Estate Advisors is please to present this rare opportunity to acquire a fully occupied, character-rich income property along one of Manitou Springs’ most iconic corridors. Situated creekside on Ruxton Avenue — the storied route to the Manitou Incline, Barr Trail, and the Pikes Peak Cog Railway — this six-unit portfolio spans three addresses (318, 320, and 324 Ruxton) on nearly half an acre of land.
All six one-bedroom units are accessed via a pedestrian bridge over Manitou Creek. Each unit offers it’s own unique charm which results in long term tenants who appreciate this exceptional location and special community.
Offered at $995,000, this property offers investors above market returns for a professionally managed asset in an irreplaceable location. Those willing to handle property management themselves, as the current owner has done for years, will enjoy nearly a 7%+ Cap rate investment.
All six one-bedroom units are accessed via a pedestrian bridge over Manitou Creek. Each unit offers it’s own unique charm which results in long term tenants who appreciate this exceptional location and special community.
Offered at $995,000, this property offers investors above market returns for a professionally managed asset in an irreplaceable location. Those willing to handle property management themselves, as the current owner has done for years, will enjoy nearly a 7%+ Cap rate investment.
Property Facts
| Price | $1,380,871 CAD | Property Type | Multifamily |
| Price Per Unit | $230,145 CAD | Lot Size | 0.54 AC |
| Sale Type | Investment | Building Size | 2,834 SF |
| Cap Rate | 6.38% | No. Stories | 1 |
| No. Units | 6 | Year Built | 1919 |
| Price | $1,380,871 CAD |
| Price Per Unit | $230,145 CAD |
| Sale Type | Investment |
| Cap Rate | 6.38% |
| No. Units | 6 |
| Property Type | Multifamily |
| Lot Size | 0.54 AC |
| Building Size | 2,834 SF |
| No. Stories | 1 |
| Year Built | 1919 |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 6 | - | 473 |
1 1
Somewhat walkable
30/100
Exceptionally drivable
100/100
Limited public transit
30/100
Fairly bikeable
40/100
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318 Ruxton Ave
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