6
See all 6 photos
$4,000,000
Est. payment /mo
54 Beds
54 Baths
22,068 SqFt
New
2625 Ore Mill RD Colorado Springs, CO 80904
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Key Details
Property Type Multi-Family
Sub Type Quadruplex
Listing Status Active
Purchase Type For Sale
Square Footage 22,068 sqft
Price per Sqft $181
Subdivision Midland Greens
MLS Listing ID 5902137
Bedrooms 54
HOA Y/N No
Year Built 1983
Property Sub-Type Quadruplex
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.
Location
State CO
County El Paso
Zoning MX-M HS P
Interior
Heating Forced Air
Cooling Air Conditioning-Room
Exterior
Roof Type Other
Private Pool No
Building
Story One
Sewer Public Sewer
Schools
School District Elementary: Colorado Springs 11, Middle/Junior: Colorado Springs 11, High: Colorado Springs 11
Others
Senior Community Yes
Tax ID 74113-10-015
Special Listing Condition None Known
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6455 S. Yosemite St., Suite 500 Greenwood Village, CO 80111 USA
6455 S. Yosemite St., Suite 500 Greenwood Village, CO 80111 USA
Listed byMarcus & Millichap Real Estate Investment Services of Atlanta, Inc.
NEARBY SCHOOL & BUSINESS
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