Cushman & Wakefield is please to present 501 N Weber Street, which presents a rare opportunity to acquire a stabilized, value-add multifamily asset located in the highly desirable Downtown Colorado Springs submarket. The property comprises six residential units, including three studio apartments, one 1-bedroom unit, one 2-bedroom unit, and one… Read More 3-bedroom unit, offering a diverse mix, ideal for a broad tenant base. Positioned on a corner lot with off-street parking and a large fenced yard, the property delivers immediate curb appeal and functionality. Four of the six units feature private walk-out patios with unobstructed views of Pikes Peak, a unique amenity rarely found in downtown assets. Recent capital improvements-including a new water heater and newer roof-ensure a well-maintained, low-maintenance property that is poised for rent growth. Current in-place rents remain below market, allowing for upside potential through strategic unit renovations and lease turnover. Located just blocks from the core of Downtown Colorado Springs, the property benefits from strong walkability to restaurants, coffee shops, entertainment venues, and major employment hubs. As one of the fastest-growing cities in the U.S., Colorado Springs continues to attract renters with its affordability, access to nature, and expanding job market. Colorado Springs is experiencing sustained economic growth, supported by a diversified employment base including aerospace, defense, healthcare, and technology. With strong in-migration trends, low vacancy rates, and increasing rental demand, the market continues to favor multifamily investments. 501 N Weber is a clean, well-maintained asset offering immediate cash flow with long-term upside potential through operational efficiencies and unit upgrades. This is an ideal opportunity for both local and out-of-state investors seeking an urban-core asset with built-in appreciation potential. Read Less
Courtesy of Nic Polaski, Cushman & Wakefield, [email protected],719-238-9074.
Listing Snapshot
Days Online
3
Last Updated
Property Type
Income Property
Square Ft.
4,015
Lot Size
0.15 Acres
Year Built
1895
MLS Number
4096227
30 Days Snapshot Of 80903
$635k
+27%
(avg) sold price
2
-50%
homes sold
9
-80%
(avg) days on market
Snapshot
Area Map
Additional Details
Building
Total Sq Ft: 4015, Above Grade Finished Area: 4015, Building Area Total: 4015, Construction Materials: "Concrete", Levels: "Two", Living Area: 4015, Stories: 2, Year Built: 1895
Cooling
"Central Air"
Garage
Type: Off Street, Covered Spaces: 15, Garage Spaces: 15
Water Features
Has Water Rights: No, Water Source: "Other Water/Sewer"
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