1512 & 1518 S Corona Avenue Colorado Springs, CO $ 2,175,000
1512 & 1518 S Corona Avenue
$ 2,175,000
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1512 & 1518 S Corona Avenue

Colorado Springs, CO, 80905
$ 2,175,000
Bedrooms-- Baths-- Sq 6,055

Monthly Estimate*

$ 13,392

Listed by Better Homes & Gardens Real Estate - Kenney & Co.
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Commercial Property for sale in Colorado Springs, CO

for $2,175,000. This 6,055 square foot building was built in 1954 on a lot size of 16320.

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). Trailing twelve-month financials reflect 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. This offering is ideally suited for cash-flow investors, owner-operators, and 1031 exchange buyers seeking stabilized income with embedded upside. Offering Memorandum and financials available on request.

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Commercial Active

Price

$ 2,175,000

Property Type

Commercial

Taxes

$ 1,966

Style

Bungalow

Lot Size

16320

Year Built

1954

Town/City

Colorado Springs

County/Region

El Paso

MLS | Web ID

9667530

Features
General
Sewer Public Sewer
Utilities Cable Available Electricity Connected Natural Gas Connected Sewer Connected
Possession Closing/DOD Negotiable
Roof Composition
Zoning MX-M
Garage Spaces 0
Architectural Style Bungalow
Construction Materials Frame
Year Built 1954
Tenant Pays Cable TV Electricity Gas Internet Telephone Trash Collection Water
Stories Count 1
Property Subtype Multi Family
Tax Year 2024
Current Use Multi-Family
Gross Income 228840
County El Paso
Operating Expense 36760
Property Type Commercial Sale
Attached Garage N
Status Active
Directions East on Brookside from Nevada South on Corona property is on the right
City Colorado Springs
Number Of Units Total 14
Lot Size Units Acres
Lot Size Square Feet 710899200
Carport Spaces 0
Listing Terms Cash Conventional Owner Will Carry
Tax Annual Amount 1966
Leasable Area 6055
Lease Considered Y/N N
Structure Type Free Standing
Standard Status Active
Occupancy Type Tenant
Cap Rate 8.8
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Exterior
Water Source Public
Total Parking 40
Lot Size Area 16320
Building Area Total 6055
Lot Size Acres 16320
Road Surface Type Dirt
Road Frontage Type Public
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Internal Only
Street Number 1 1512
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* Excluded Features
List By
Better Homes & Gardens Real Estate - Kenney & Co.

Broker

(719) 287-8881

Phone

Affordability Calculator

$13,556
Per Month
99%
1%
0%
Monthly Principal & Interest
$13,392
Monthly Property Taxes
$164
Monthly Home Insurance
--
Default based on a 30-year fixed rate of 6.25% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.
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Nearby
242254 Elementary School
242425 Middle School
Unknown High School High School
Pricing History
DatePricePrice ChangeDescription
3/4/2026$2,175,000 Listed Price

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1512 & 1518 S Corona Avenue, Colorado Springs, CO, 80905 is a Commercial Property for sale at $2,175,000 with 6,055 sqft and a lot size of 16320. 1512 & 1518 S Corona Avenue was built in 1954. The property's zip code is 80905 which is in Colorado Springs, CO