3020 N El Paso St, Colorado Springs, CO 80907 - industrial property

Detailed information about industrial property which situated in Colorado Springs (80907) city, Colorado state on 3020 N El Paso St.

Additional Information: WE’VE LOWERED THE PRICE TO MATCH THE NEWLY LOWERED ASSESSED VALUATION! This is a very unique property for sale. It’s actually 4 separate buildings; 2 small office buildings, a mixed-use office/warehouse building and a 26-unit self-storage facility. This property is for sale at the Assessor’s current valuation - $1,141,930; that’s only $42.15 psf! The offering includes (3022 North El Paso = 4,201 sf); (3022 North El Paso = 6,055 sf); (610 1st Street = 10,399 sf); the self storage (3117 Century Street = 6,780 sf). The rents are below market and many are short-term; we’re not aware of any deferred maintenance. The property has been very well cared-for because it was originally planned as “legacy property”. The Seller’s have simply changed their long-term strategy and therefore created this opportunity for a buyer. The annual gross income is $136,000; the annual net income is $61,840. (If you simply get Tenants to pay utilities, the income increases $16,284 to $78,124!) Obviously, there is plenty of upside for a real estate entrepreneur.