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INVESTMENT OPPORTUNITY | FOURPLEX | CIMARRON HILLS | NEAR PETERSON SFB Don't miss this income-producing fourplex at 1117 Cree Drive in Colorado Springs' Cimarron Hills neighborhood. Four large 1-bedroom apartments (~625 sq ft each) offer a simple, in-demand floor plan that rents well to singles, couples, and military-adjacent tenants. Each unit has individually metered gas and electric. The landlord pays water, sewer, trash, and the house electric meter that serves exterior lighting and the on-site coin laundry. Residents get practical extras that hold tenants: plenty of off-street parking in the fenced backyard, motion-activated security lighting, recently poured sidewalks, and a locked ~30 sq ft exterior storage closet for each apartment (some with power). Seller-owned coin-operated laundry (2 washers and 2 dryers) is an additional income stream, not a giveaway amenity. All four units are leased and currently producing income. Every lease has expired and is now month-to-month, so a new owner can keep the existing tenants, reset rents, or re-tenant on their own terms. A bidirectional exterior sewer cleanout in the backyard makes maintenance access straightforward. Location is a working renter's commute: minutes from Peterson Space Force Base, with convenient access to the Powers Boulevard corridor, Highway 24, Academy Boulevard, shopping, dining, and everyday services. Whether you want a turnkey fourplex for the rent roll, a long-hold east-side asset, or a property you can operate with low utility complexity, this is a clean, understandable four-unit investment. Schedule your showing today.
| DAYS ON MARKET | 0 | LAST UPDATED | 9/6/2026 |
|---|---|---|---|
| YEAR BUILT | 1970 | COMMUNITY | Cimarron Hills |
| COUNTY | El Paso | STATUS | Active |
| PROPERTY TYPE(S) | Multi Family |
| ADDITIONAL DETAILS | |
| AIR | Ceiling Fan(s) |
|---|---|
| AIR CONDITIONING | Yes |
| APPLIANCES | Cooktop, Disposal, Dryer, Oven, Refrigerator, Self Cleaning Oven, Washer |
| AREA | Cimarron Hills |
| HEAT | Forced Air |
| LOT | 8499 sq ft |
| TAXES | 2769.61 |
| UTILITIES | Cable Connected, Electricity Connected, Natural Gas Connected, Natural Gas Available |
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Listing provided by: Red Dragon Realty, Inc., 3038001914
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