Parker Place Apartments — Sale in Colorado Springs, CO

  • Price: Contact for price
  • Listing type: For sale
  • Asset type: Multifamily Property
  • Location: Colorado Springs, CO 80904

Photos

Parker Place Apartments — Sale in Colorado Springs, CO, photo 1 of 2
Parker Place Apartments — Sale in Colorado Springs, CO, photo 2 of 2

Investment Figures

Cap rate
8.32%

Derived from the asking price and operating figures published for this listing. Informational only — not an appraisal, valuation or financial advice. Verify independently before relying on any figure.

Description

Marcus & Millichap is pleased to present Parker Place Apartments, a 54-unit multifamily community located in Colorado Springs, Colorado that caters to a 55+ demographic and veteran residents. Offered at $4,000,000, or approximately $74,074 per unit, Parker Place presents investors with a compelling opportunity to acquire a fully renovated and stabilized multifamily asset at an exceptionally low basis while achieving an 8.32% going-in cap rate, increasing to 9.15% in Year 1, with projected cash-on-cash returns exceeding 10% throughout the hold period. The property has undergone an extensive renovation program encompassing apartment interiors, common areas, and resident amenities, including the addition of a new fitness center. With these improvements already completed, future ownership can benefit from a renovated physical asset without the significant capital requirements and execution risk typically associated with a traditional value-add investment. Parker Place is currently 100% occupied, providing immediate stabilized cash flow and demonstrating strong demand for the property’s renovated rental product and community-oriented environment. Parker Place’s resident profile provides an additional point of differentiation within the Colorado Springs multifamily market. The property caters to a 55+ demographic and veteran residents while remaining open to the broader rental market, creating a community-oriented housing environment without limiting its overall renter base. At 54 units and approximately $74,074 per unit, Parker Place offers a differentiated combination of exceptional yield, attractive basis, meaningful scale, stabilized operations, and a unique resident profile. The opportunity to acquire a fully renovated and fully occupied community at this basis, while generating double-digit projected cash-on-cash returns, creates a compelling investment opportunity within the Colorado Springs multifamily market. Investment Highlights: • Fully renovated 54-unit comm

Market Context

This multifamily in Colorado Springs, CO is listed for sale. It is offered at an approximate 8.3% capitalization rate, a key benchmark for income-producing multifamily assets. Compare it against other multifamily listings for sale in Colorado Springs, CO — view the full market.

Contact

Explore this market

Similar Multifamily Property for Sale in Colorado Springs, CO