BEDS0
BATHS
SQUARE FEET3,000
MLS#2783225
STATUSPending
PROPERTY TYPEMulti Unit - Multiple
SUBDIVISIONHathaway Subdivision No 1
SCHOOLColorado Springs 11
Listing Courtesy of:
MODUS Real Estate
Agency Contact: astephens@moduscommercial.com,720-496-8868
Property Description
MODUS Real Estate is pleased to present the opportunity to acquire 935 Hathaway Dr, a well maintained fourplex in the Cimarron Hills neighborhood of East Colorado Springs, within the Powers submarket and minutes from Peterson Space Force Base, Schriever Space Force Base, and the Colorado Springs Airport. The property consists of four 2 bed / 1 bath units, each approximately 750 square feet, across a 3,000 SF building on a 7,841 SF lot ? an efficient, easily managed unit mix with proven long-term tenant demand.Distinct from a heavy value-add play, 935 Hathaway offers stabilized, in-place cash flow. All four units are currently leased and occupied, averaging $1,378.75 per month ($1.84/SF) and producing $66,180 in gross annual rent. In-place NOI of $42,807 represents a 6.39% going-in cap rate at the $670,000 asking price.Year 1 underwriting projects NOI rising to $44,967 (a 6.71% cap), driven by a utility bill-back program that recaptures a portion of the master-metered water and sewer expense ? an operational improvement achievable without capital renovation. Built in 1984, the asset positions as an attractive core-plus opportunity for private investors and 1031 exchange buyers seeking durable workforce-housing yield.
Property Features
Property Type: Multi Unit - Multiple
Basement: Finished
Cooling: None
Heating: Baseboard
Roof Type: Composition
Stories: 2.0
Taxes: $2,934
Year Built: 1983
Feature Descriptions
Days on Site: 29
Exclusions: List to be provided by the seller, if any
Exterior: Brick, Wood Siding
Parcel#: 54074-07-029
Sewer: Public Sewer
Local Schools
High School: Mitchell
Middle School: Jenkins
Elementary School: McAuliffe
School District: Colorado Springs 11
Listed By / Shown By
Listed By
Agency Name: MODUS Real Estate
Agency Contact: astephens@moduscommercial.com,720-496-8868
Shown By
Agent Name: Johnny Allen
Agent Phone: (408) 806-8577
Agency Title: The Cutting Edge, Realtors
Estimate Your Payment
Estimated Payment
$ 3,740.16 per month $3,300.24 Principal & Interest $244.50 Property Tax $195.42 Homeowner's InsuranceChange Payment Information
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935 Hathaway Drive | MLS# 2783225
This multi-family property located at 935 Hathaway Drive, Colorado Springs, CO 80915 is currently listed for sale with an asking price of $670,000. Hathaway Drive is located within the Colorado Springs 11 school district. Search Colorado Springs real estate on www.johnnyallenhomes.com today.