Colorado Springs – Nexus Commercial Realty, LLC, has closed the sale of Tiburon Apartments located at 1330 Potter Drive, a 34,366 SF, 41 Unit Multifamily Property for the sale price of $4,100,000. Jason Koch of Nexus represented the Seller and Patrick Knowlton of Nexus represented the Buyer.
Built in 1968, the Tiburon Apartments offer a great unit mix of seven studios, eleven 1 bed/ 1 bath and twenty three 2 bed/ 1 baths. All units are spacious, nicely renovated and the property also offers plenty of parking for the tenants.
Tiburon Apartments is conveniently located directly off Potter Drive, between the cross streets of Palmer Park Blvd and E San Miguel St. The property offers direct access to N Academy Blvd & E Platte Avenue, and is within minutes to the beautiful Palmer Park area.
Buyer plans on making some capital improvements to the exterior of the property including parking lot, pool area, and landscaping. Through that and some smaller cosmetic upgrades, the Buyer’s hope to increase the rent roll and benefit from an improving market.
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