Capital Property Group is pleased to present the Ruxton Apartments located at 115-117 Ruxton Ave, Manitou Springs, CO 80829. This is an investment opportunity to acquire twelve (12) units in the extremely desirable city of Manitou Springs. The Ruxton Apartments sit in the heart of downtown Manitou Springs within walking distance of all the city’s restaurants, cafés, and retail stores. Just blocks from the property you will also find attractions like the Manitou Incline, Garden of the Gods, Miramont Castle Museum, and the Manitou Springs Heritage Center and Museum. The Ruxton Apartments are just a 15-minute drive from Colorado Springs, the second most populated city in the state of Colorado.
The Ruxton Apartments consist of five (5) two (2) story walk-up buildings with exterior walkways. The unit mix is two (2) studio units, six (6) one bed one bath units, and four (4) two bed one bath units. A majority of the units have been renovated under current ownership since the last sale in April of 2021. Currently the Ruxton Apartments are being rented for under market value and would give a future investor the opportunity to raise rents immediately and increase NOI. Owners of other multi-family buildings in the area typically report full occupancy at their properties, with annual leases executed months in advance
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