601 N Cascade Ave Colorado Springs, CO 80903

Listing details for 601 N Cascade Ave, Colorado Springs, CO 80903 : This is a beautiful pair of apartment buildings located on one of Downtown's more prominent corners. (The Listing system would not allow for the breakdown of the Willamette building.) Both buildings have been well maintained, and all units are in Average to Very Good condition. Low vacancy rate is the reason for so few interior pictures. The "Purple Building" is known by many and lends to very easy renting; supplemented by the large units. The Willamette building also rents easily and is in a prime location. Cascade is at full occupancy and the tenants in 1,2,4 pay gas and electric. Numbers 3 and 5 pay electric. The building itself has a new exterior paint job, new roof, new front railings, and improved landscaping. Each apartment has its own furnace or heating source, and electric meters and breaker boxes were separated and updated in 2004. Each apartment, except #5, has its own washer/dryer unit. Willamette is also at full occupancy. The exterior paint and the roof are also new as with the updated landscaping. This building has five apartments and a shared washer/dryer unit in the main front hall. Apartment#1 (16) has its own washer/dryer unit. There are two 50 gallon HWH's and while the water boiler is older the new pump was installed in 2006. There is a 2 car garage on the lot and a cinder block storage unit for extra rent. The Owner pays all utilities on this building. Both buildings have underground automatic sprinkler systems. The yard area between the two buildings could hold up to 10 additional parking spaces, and the highly visible corner makes for a multitude of opportunities for the right investor. (The taxes for both buildings are represented in the Listing.)