Capstone has closed the sale of the Ivy at Cheyenne Creek, a garden-style 38,793 sq ft multifamily property for the sale price of $10,450,000. Pat Knowlton of Capstone represented both Buyer and Seller in this transaction.
The Ivy at Cheyenne Creek was built in 1962, and with renovations such as new appliances and flooring, the property has been well-maintained. Other updates to the property include a new water heating system and furnace. The most common unit layout is a 1 bed/1 bath 430 sq ft unit. 23 of the 61 units have this layout. One unit is a slightly larger 1 bed/1 bath, at 514 sq ft. Four of the units are also 1 bed/1 bath, at 595 sq ft. The remaining 33 units are 2 bed/1 bath units. The property also includes 75 parking spots, a dog park, laundry facilities, and a courtyard.
The Ivy at Cheyenne Creek is conveniently located Ave at 1801 S Cascade Ave, on the corner of E St Elmo Ave and S Cascade. This location is directly behind the new Colorado Creekwalk development, among many other retail and restaurant spots, as well as many Colorado Springs attractions: The Broadmoor, The Cheyenne Mountain Zoo, and the U.S Olympic & Paralympic Museum, to name a few.
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About Capstone:
The goal of Capstone is to help generate, maintain, and increase the value and profitability of our clients’ multi-housing investment properties. To do so, we provide comprehensive multi-housing advisory services in asset acquisition and development, strategic ownership decisions, market insight and positioning, property value analysis, and disposition brokerage to support our clients in every stage of ownership. This comprehensive multi-housing-focused service offering paired with our relentless drive to win on behalf of our clients is what sets us apart from pedestrian brokerage firms. Capstone simply put: Expertise. Experience. Extra-Mile.
