Start of property details
Property Details
Located on a corner lot in downtown Colorado Springs' beautiful Hillside community, this shovel ready, urban infill apartment complex offers 10 luxury, Class A units, with amazing mountain views and immediate proximity to downtown amenities. Take advantage of this property's Opportunity Zone tax benefits, which means you pay zero capital gains taxes on the sale after building and owning the apartments for ten years. This project is ready for builder permits, with all drawings and site variances approved and stamped by the city and tap fees already paid. As Hillside's future anchor point for urban living, all units will feature 9' interior ceilings, 8 tuck-under covered parking spots, 8 storage units, 8 bike storage units, a dedicated dog wash, and electric vehicle charging stations. As of May 2023, the finished apartments have a projected value of over $4 million, with a 4.85% Cap Rate, and a yearly NOI after expenses of $197, 000. Investment opportunities like this rarely make it to the open market. Make this one yours today!
Property Highlights
Location
Property Details
Community
Local Schools
Interior Features
Interior Features
Terms
Terms
Taxes
Tax
Heating, Cooling & Utilities
Utilities
Lot
Payment Calculator
Property History
Similar Properties
{"property_id":"boulder_2122673","AboveGradeFinishedArea":null,"AccessibilityFeatures":null,"Appliances":null,"ArchitecturalStyle":null,"AssociationAmenities":null,"AssociationFee":null,"AssociationFeeFrequency":null,"AssociationFeeIncludes":null,"AssociationYN":"0","AttributionContact":"[email protected], 719-308-6055","Basement":null,"BasementYN":null,"BathroomsFull":null,"BathroomsHalf":null,"BathroomsOneQuarter":null,"BathroomsThreeQuarter":null,"BelowGradeFinishedArea":null,"BuilderModel":null,"BuilderName":null,"BuyerOfficeName":null,"CapRate":null,"CityRegion":null,"CommunityFeatures":null,"ComplexName":null,"ConstructionMaterials":null,"Contingency":null,"Cooling":null,"CountyOrParish":"El Paso","CoveredSpaces":null,"DevelopmentName":null,"DevelopmentStatus":null,"DirectionFaces":null,"DoorFeatures":null,"Electric":"Electric","ElementarySchool":null,"Exclusions":"None","ExteriorFeatures":null,"Fencing":null,"FireplaceFeatures":null,"FireplaceYN":null,"FireplacesTotal":null,"Flooring":null,"FoundationDetails":null,"GarageSpaces":null,"GreenBuildingVerificationType":null,"GreenEnergyEfficient":null,"GreenEnergyGeneration":null,"GreenIndoorAirQuality":null,"GreenLocation":null,"GreenSustainability":null,"GreenWaterConservation":null,"Heating":null,"HighSchool":null,"HorseAmenities":null,"HorseYN":"0","Inclusions":null,"IndoorFeatures":null,"InteriorFeatures":null,"InternetAddressDisplayYN":null,"LaundryFeatures":null,"Levels":null,"ListingTerms":"Cash, Conventional","LivingArea":null,"LotFeatures":null,"LotSizeArea":"9583.00","LotSizeSquareFeet":"9583.00","MainLevelBedrooms":null,"MiddleOrJuniorSchool":null,"Model":null,"NewConstructionYN":"0","NumberOfUnitsTotal":null,"ListOfficeKey":"e4a5a0cccde19201607e9f125b9e828b","OfficePhone":"888-440-2724","OtherParking":null,"Ownership":null,"ParkingFeatures":null,"ParkingTotal":null,"PatioAndPorchFeatures":null,"PoolFeatures":null,"PoolYN":null,"PoolPrivateYN":null,"PropertyCondition":"Not New, Previously Owned","PropertySubType":"Unimproved Land","public_remarks":"Located on a corner lot in downtown Colorado Springs' beautiful Hillside community, this shovel ready, urban infill apartment complex offers 10 luxury, Class A units, with amazing mountain views and immediate proximity to downtown amenities. Take advantage of this property's Opportunity Zone tax benefits, which means you pay zero capital gains taxes on the sale after building and owning the apartments for ten years. This project is ready for builder permits, with all drawings and site variances approved and stamped by the city and tap fees already paid. As Hillside's future anchor point for urban living, all units will feature 9' interior ceilings, 8 tuck-under covered parking spots, 8 storage units, 8 bike storage units, a dedicated dog wash, and electric vehicle charging stations. As of May 2023, the finished apartments have a projected value of over $4 million, with a 4.85% Cap Rate, and a yearly NOI after expenses of $197, 000. Investment opportunities like this rarely make it to the open market. Make this one yours today!","Roof":null,"RoomsTotal":null,"SchoolDistrict":"Colorado Springs 11","SecurityFeatures":null,"SeniorCommunityYN":"0","Sewer":"City Sewer, Public Sewer","SpaFeatures":null,"SpaYN":null,"SpecialListingConditions":null,"StandardStatus":null,"StateRegion":null,"StoriesTotal":null,"StructureType":null,"TaxAnnualAmount":"1542.00","Utilities":"Natural Gas Available, Electricity Available","View":null,"ViewYN":null,"VirtualTourURLUnbranded":null,"WalkScore":null,"WaterBodyName":null,"WaterSource":null,"WaterfrontFeatures":null,"WaterfrontYN":"0","WindowFeatures":null,"YearBuilt":null,"Zoning":"C6","ZoningDescription":null,"headline_txt":null,"description_txt":null,"seller_office_id":null,"property_uid":"02f124a67e2c28d2ba3614a45dc75ac5","listing_status":"active","mls_status":"Active","mls_id":"boulder","listing_num":"2122673","acreage":null,"acres":"0.22","address":null,"address_direction":"E","address_flg":"1","address_num":"703","agent_id":"55053420","area":"Out of Area","baths_total":null,"bedrooms_total":null,"car_spaces":null,"city":"Colorado Springs","coseller_id":null,"coagent_id":null,"days_on_market":"222","finished_sqft_total":null,"geocode_address":null,"geocode_status":null,"lat":"38.827587","lon":"-104.81311","office_id":"EXPCO","office_name":"eXp Realty, LLC","orig_price":"775000","photo_count":"15","previous_price":null,"price":"775000","prop_img":"https:\/\/dvvjkgh94f2v6.cloudfront.net\/8ff91383\/00bf83da2131f503c458296ecafd4fb8\/83dcefb7.jpeg","property_type":"Land","sqft_total":null,"state":"CO","street_type":"St","street_name":"Costilla","sub_area":"Other","unit":null,"zip_code":"80903","listing_dt":"2023-06-08","undercontract_dt":null,"openhouse_dt":null,"price_change_dt":null,"seller_id":null,"sold_dt":null,"sold_price":null,"webapi_update_dt":null,"update_dt":"2024-03-25 20:19:43","create_dt":"2024-03-02 18:30:04","marketing_headline_txt":null,"use_marketing_description_txt":null,"marketing_description_txt":null,"showcase_layout":null,"mortgage_calculator":null,"property_history":null,"marketing_account_id":null}