311 University Dr, Colorado Springs, CO 80910

Property Description

Cushman & Wakefield is pleased to present 311 University Drive, a five-unit, 4,508 SF multifamily property in southeast Colorado Springs. The property is 100% occupied with leases running through 2027, and base rent is $6,385 per month. The unit mix is larger than typical for a five-unit asset: four 2-bedroom units and one 3-bedroom, for 11 bedrooms and 9 bathrooms. Ownership has invested more than $158,000 in capital improvements since 2024, roughly 20% of the asking price. Work includes a new Class 4 impact-resistant roof, a new metal and concrete staircase, multiple furnace replacements, xeriscape landscaping, new fencing, and more than $100,000 of interior renovations. The renovations added LVP flooring, updated paint, and new vanities, lighting and plumbing fixtures. The property is in southeast Colorado Springs, near Peak Innovation Park, a 1,600-acre master-planned business park at the entrance to the Colorado Springs Airport. The park already counts Amazon, Frito-Lay, Northrop Grumman and The Aerospace Corporation among its tenants. Growth is continuing, with a 620,000-square-foot Swire Coca-Cola plant announced and 252,890 square feet of new Class A industrial space under construction. Its manageable unit count and existing building footprint may appeal to investors seeking a smaller multifamily property with potential for operational improvements, rental income growth, and long-term appreciation.