Skip To Content

703 E Costilla Street

Colorado Springs, CO 80903
  • $775,000
  • STATUS: Active
  • ON SITE: 349 Days
  • ID#: 2122673
UPDATED: 150 min ago
$775,000
  • 0
    BEDS
  • 0.22
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Neighborhood:
Type:
Vacant Land / Lots
County:

School Ratings & Info

School District:
REcolorado logo Offered by eXp Realty, LLC.

Description

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!

Monthly Payment Calculator



Licensed in the State of Colorado, USA

The content relating to real estate for sale in this Web site comes in part from the Internet Data eXchange (IDX) program of METROLIST, INC., DBA RECOLORADO®. Real estate listings held by brokers other than iHomes Colorado are marked with the IDX Logo. This information is being provided for the consumers’ personal, non-commercial use and may not be used for any other purpose. All information subject to change and should be independently verified.

1. This publication is designed to provide information regarding the subject matter covered. It is displayed with the understanding that the publisher and authors are not engaged in rendering real estate, legal, accounting, tax, or other professional services and that the publisher and authors are not offering such advice in this publication. If real estate, legal, or other expert assistance is required, the services of a competent, professional person should be sought.

2. The information contained in this publication is subject to change without notice. METROLIST, INC., DBA RECOLORADO MAKES NO WARRANTY OF ANY KIND WITH REGARD TO THIS MATERIAL, INCLUDING, BUT NOT LIMITED TO, THE IMPLIED WARRANTIES OF MERCHANTABILITY AND FITNESS FOR A PARTICULAR PURPOSE. METROLIST, INC., DBA RECOLORADO SHALL NOT BE LIABLE FOR ERRORS CONTAINED HEREIN OR FOR ANY DAMAGES IN CONNECTION WITH THE FURNISHING, PERFORMANCE, OR USE OF THIS MATERIAL.

3. PUBLISHER’S NOTICE: All real estate advertised herein is subject to the Federal Fair Housing Act and the Colorado Fair Housing Act, which Acts make it illegal to make or publish any advertisement that indicates any preference, limitation, or discrimination based on race, color, religion, sex, handicap, familial status, or national origin.

4. METROLIST, INC., DBA RECOLORADO will not knowingly accept any advertising for real estate that is in violation of the law. All persons are hereby informed that all dwellings advertised are available on an equal opportunity basis.

5. ALL RIGHTS RESERVED WORLDWIDE. No part of this publication may be reproduced, adapted, translated, stored in a retrieval system or transmitted in any form or by any means, electronic, mechanical, photocopying, recording, or otherwise, without the prior written permission of the publisher. The information contained herein including but not limited to all text, photographs, digital images, virtual tours, may be seeded and monitored for protection and tracking.

REcolorado logo © 2024 METROLIST, INC., DBA RECOLORADO® – All Rights Reserved 6455 S. Yosemite St., Suite 500 Greenwood Village, CO 80111 USA

www.ihomescolorado.com/homes/140416571
Print Image

703 E Costilla Street Colorado Springs, CO 80903

  • Price: $775,000
  • Status: Active
  • On Site: 349 Days
  • Updated: 150 min ago
  • ID#: 2122673
0
Beds
0
Baths
0
½ Baths
0.22
Acres
Neighborhood:
Other
County:
El Paso
Area:
Colorado Springs
School District:
Colorado Springs 11
Property Description
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!
Exterior Features

Attached Garage YN No Carport Spaces 0 Lot Size Area 0.22 Offstreet Spaces 0 Parking Total 0 Rv Spaces 0

Property Features

Association Fee Annual 0.00 Association Fee Total Annual 0.00 Association Fee2 Annual 0.00 Association Fee3 Annual 0.00 Association YN No Comparable Listing YN No Exclusions None Listing Terms CashConventional Ownership Corporation/Trust Possession Closing/DOD Property Sub Type Improved Land Restrictions Covenants YN No Sewer Public Sewer Sewer Tap YN Yes Special Listing Conditions None Tax Annual Amount 1542 Tax Legal Description LOT 1 BLK 3 HILLSIDE ADD COLO SPGS Tax Year 2022 Utilities Electricity AvailableNatural Gas Available Water Included YN Yes Water Tap Paid YN 1 Zoning C6

REcolorado logo Listing courtesy of eXp Realty, LLC:daniel.jones@exprealty.com,719-308-6055. MLS #2122673


Licensed in the State of Colorado, USA

The content relating to real estate for sale in this Web site comes in part from the Internet Data eXchange (IDX) program of METROLIST, INC., DBA RECOLORADO®. Real estate listings held by brokers other than iHomes Colorado are marked with the IDX Logo. This information is being provided for the consumers’ personal, non-commercial use and may not be used for any other purpose. All information subject to change and should be independently verified.

1. This publication is designed to provide information regarding the subject matter covered. It is displayed with the understanding that the publisher and authors are not engaged in rendering real estate, legal, accounting, tax, or other professional services and that the publisher and authors are not offering such advice in this publication. If real estate, legal, or other expert assistance is required, the services of a competent, professional person should be sought.

2. The information contained in this publication is subject to change without notice. METROLIST, INC., DBA RECOLORADO MAKES NO WARRANTY OF ANY KIND WITH REGARD TO THIS MATERIAL, INCLUDING, BUT NOT LIMITED TO, THE IMPLIED WARRANTIES OF MERCHANTABILITY AND FITNESS FOR A PARTICULAR PURPOSE. METROLIST, INC., DBA RECOLORADO SHALL NOT BE LIABLE FOR ERRORS CONTAINED HEREIN OR FOR ANY DAMAGES IN CONNECTION WITH THE FURNISHING, PERFORMANCE, OR USE OF THIS MATERIAL.

3. PUBLISHER’S NOTICE: All real estate advertised herein is subject to the Federal Fair Housing Act and the Colorado Fair Housing Act, which Acts make it illegal to make or publish any advertisement that indicates any preference, limitation, or discrimination based on race, color, religion, sex, handicap, familial status, or national origin.

4. METROLIST, INC., DBA RECOLORADO will not knowingly accept any advertising for real estate that is in violation of the law. All persons are hereby informed that all dwellings advertised are available on an equal opportunity basis.

5. ALL RIGHTS RESERVED WORLDWIDE. No part of this publication may be reproduced, adapted, translated, stored in a retrieval system or transmitted in any form or by any means, electronic, mechanical, photocopying, recording, or otherwise, without the prior written permission of the publisher. The information contained herein including but not limited to all text, photographs, digital images, virtual tours, may be seeded and monitored for protection and tracking.

REcolorado logo © 2024 METROLIST, INC., DBA RECOLORADO® – All Rights Reserved 6455 S. Yosemite St., Suite 500 Greenwood Village, CO 80111 USA

 
https://bt-photos.global.ssl.fastly.net/metrolist/1280_boomver_1_2122673-1.jpg https://bt-photos.global.ssl.fastly.net/metrolist/1280_boomver_1_2122673-1.jpg https://bt-photos.global.ssl.fastly.net/metrolist/1280_boomver_1_2122673-1.jpg
Logo
iHomes Colorado
8700 W. Turnpike Drive, Suite 303
Westminster CO, 80031
REcolorado logo Offered by eXp Realty, LLC.