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HOMES FOR COLORADO
2625 Ore Mill Rd, Colorado Springs, CO 80904
- $4,000,000
- 54
- BD
- 54
- BA
- 22,068
- SqFt
Courtesy of Marcus & Millichap Real Estate Investment Services of Atlanta, Inc. . charles.burkhart@marcusmillichap.com,214-336-6064
- List Price
- $4,000,000
- Type
- Multifamily
- Status
- ACTIVE
- MLS Number
- 5902137
- Finished Sqft
- 22,068
- Subdivision
- Midland Greens
- Year Built
- 1983
Property Description
Parker Place Apartments is a 54-unit, fully renovated and 100% occupied multifamily community in Colorado Springs. Offered at $4.0 million, or approximately $74,074 per unit, the property provides an attractive low-basis investment with an 8.32% going-in cap rate, increasing to 9.15% in Year 1, and projected double-digit cash-on-cash returns. Catering primarily to 55+ and veteran residents while remaining open to the broader rental market, Parker Place combines stabilized cash flow, minimal near-term capital needs, and a differentiated resident profile.
Additional Information
- School District
- Colorado Springs 11
- Elementary School
- Midland
- Middle School
- Holmes
- High School
- Coronado
- Taxes
- $34,180
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