8 Beds
4 Baths
3,442 SqFt
8 Beds
4 Baths
3,442 SqFt
Key Details
Property Type Multi-Family
Sub Type Quadruplex
Listing Status Active
Purchase Type For Sale
Square Footage 3,442 sqft
Price per Sqft $188
Subdivision Fountain Plaza North
MLS Listing ID 7311767
Bedrooms 8
HOA Y/N No
Year Built 1987
Property Sub-Type Quadruplex
Property Description
The asset is currently 95% occupied with in-place rents of $1,100/month, roughly 15% below the $1,295/month market rent supported by recent quadplex leasing in the immediate submarket. Executing a mark-to-market turn strategy alongside a RUBS utility bill-back drives NOI from $30,415 (T-12) to $42,568 (Year 1 pro forma) — approximately 40% NOI growth — expanding the going-in
cap rate from 4.68% to a stabilized 6.55%.
Demand is anchored by Fort Carson (~8 miles north; 26,000+ active-duty soldiers, ~40,000 family members, 57% living off-post) and reinforced by Peterson and Schriever Space Force Bases. As the newest asset among recent Provincial Dr and Alegre Cir quadplex sales, the pricing is directly validated by the same-street 6600–6606 Provincial Dr sale at $161,000/unit.
Location
State CO
County El Paso
Zoning FOUNTAIN
Interior
Heating Forced Air
Cooling Central Air
Exterior
Roof Type Composition
Private Pool No
Building
Story One
Sewer Public Sewer
Schools
School District Elementary: Widefield 3, Middle/Junior: Widefield 3, High: Widefield 3
Others
Senior Community No
Tax ID 65144-02-004
Special Listing Condition None Known
6455 S. Yosemite St., Suite 500 Greenwood Village, CO 80111 USA
Nearby Locations
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8300 E Maplewood Drive Ste 100, Greenwood Village, Colorado, Other