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Springs Multifamily Portfolio

Posted: 8/14/2023
37 Units
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About Springs Multifamily Portfolio

Cushman & Wakefield is thrilled to present the Springs Multifamily Portfolio, a highly attractive multifamily portfolio in Colorado Springs. This exceptional investment opportunity consists of 37 units spread across 9 multifamily assets, offering investors a chance to acquire a deal of size within the Springs market. The Springs Multifamily Portfolio presents an opportunity for investors to diversify their portfolio with assets in three different submarkets within Colorado Springs. The areas covered are the Sage properties on the desirable westside of the Springs, Scott Lane and Westmoreland properties on the north side near UCCS and the thriving eastside with the Bonnie Court properties. This value-add portfolio boasts a strong unit mix of mostly two-bedroom units and gives investors the opportunity to implement their value add strategy and bump current rates to market with minimal capital injection. Cushman & Wakefield is pleased to present this highly sought-after opportunity and welcomes interested investors to explore the Springs Multifamily Portfolio in further detail.

Limited Capex Needed: The Springs Multifamily Portfolio has a strong maintenance history, with three new roofs installed in the last year and significant unit upgrades have been undertaken, improving the overall quality, and attracting higher-quality tenants. Approximately half of the exteriors have also been newly painted, enhancing the visual appeal of the properties.

Submarket Fundamentals and Demand Drivers: Colorado Springs boasts robust submarket fundamentals and strong demand drivers in the multifamily sector. The western submarket offers residents convenient access to the Downtown, I-25, Garden of the Gods, and a diverse range of new retail developments. These factors contribute to high tenant demand, rentability and versatility within the market.

Prime Locations: The properties within the Springs Multifamily Portfolio offers residents a desirable combination of convenience and amenities, with easy access to key transportation routes and popular attractions. The proximity to retail, I-25, UCCS, Garden of the Gods ensures residents have access to a wide range of shopping, dining, and entertainment options.