Colorado Springs Office

Cushman & Wakefield is pleased to present the Columbine West Apartments, an exceptional multifamily opportunity, located in the heart of Pueblo West, Colorado. This wellmaintained property features a total of 16 units between four buildings, each with 3 spacious 2-bed and 1-bath units, and one 1-bed and 1-bath unit. The Columbine West Apartments appeal to a wide range of prospective residents looking for single level living in Pueblo West. The Columbine West Apartment’s prime location in Pueblo West offers easy access to a multitude of dining, entertainment, and retail options as well as convenient commutes to Pueblo & Canon City. There is currently a limited supply of apartment units in Pueblo West, which will continue as the city plans to limit new construction into the future. Additionally, this property presents an enticing opportunity for potential investors to maximize returns through operational improvements and continued interior renovations. Investors can create instant equity (can immediately increase returns) by implementing a utility bill-back program and increasing rents to market. The Columbine West Apartments are perfectly positioned to capitalize on the limited supply of apartments, increasing rents, and high rental demand in the desirable Pueblo West market.

Cushman & Wakefield is pleased to present 1646 Routt St, an exciting opportunity comprised of (9) units in Lakewood CO. This opportunity is primed for an investor looking to benefit from predictable in-place returns as well as reap the reward of continuing to increase rents to market level. The property offers 8 spacious, 2-bedroom & 1-bathroom style apartment homes and one 1-bedroom, 1-bathroom unit. The property benefits from its location in Lakewood, which is a highly sought-after submarket of Denver for owners and renters alike. The property’s location affords tenants quick access to major employers, roadways and local transit with easy accessibility to Red Rocks Amphitheater, Bear Creek Open Space, and Apex Mountain Bike Trail. This property is perfectly positioned to capitalize on the limited supply and high rental demand in the Lakewood market. Investors will enjoy the advantage of minimal maintenance required for this meticulously cared for apartment. 1646 Routt offers investors the ability to own an asset in a predictable market with solid fundamentals.

Cushman & Wakefield is pleased to present Bel Mar Apartments, an exceptional multifamily real estate offering located in Downtown Colorado Springs. The property consists of 22 units comprising 2 studio units and 20 spacious one bed, one bath units. Boasting a prime location and excellent walkability to a plethora of dining options, shopping destinations, and entertainment venues, this property presents an ideal living experience for residents. The property offers plenty of parking for tenants, private patio spaces, on-site laundry & extra storage facilities. Situated with easy access to I-25, residents can enjoy seamless commutes and convenient connectivity to surrounding areas. The nearby attractions of the new U.S. Olympic & Paralympic Museum as well as the newly built Weidner Field add to the property’s allure.

With 22 units in the heart of downtown Colorado Springs, Bel Mar Apartments presents itself as an attractive investment opportunity with 95% classic units. This unique multifamily asset presents an enticing value-add opportunity to potential investors looking to maximize returns through renovations and operational improvements.

Value-Add Potential: Bel Mar Apartments presents an excellent opportunity for value creation through interior renovations and operational improvements. Twenty units remain primed for interior renovations such as LVP flooring, shaker cabinets, countertops, appliances, and full bathroom remodel. The asset will continue to command higher rental rates and attract tenants seeking updated living spaces. Furthermore, investors have the ability to capitalize on flexible leases with immediate rental upside of approximately $300-500 per unit. Additionally, a utility bill back system can be implemented along with the rental increases to improve returns.

Central Downtown Location: Bel Mar Apartments is a legacy asset positioned in Downtown Colorado Springs. This provides tenants an attractive lifestyle with easy walkability to Downtown dining, retail & entertainment options. Bel Mar’s close proximity to the city’s economic hub of over 28,000 employees and to Colorado College, further adds to the appeal for both renters and investors alike.

Belmont Heights Apartments, a 36-unit multifamily community in Pueblo, has sold to Anchor Belmont LLC for $3.6 million, or $100,000 per unit. Cushman & Wakefield’s Multifamily Investment Services team in Colorado Springs represented both the buyer and the seller, Belmont Heights Apartments LLC, in the transaction. The team’s Lee Wagner and Jeff Dimmen represented the seller, and the team’s leader Pat Knowlton represented the buyer. “Belmont Heights Apartments is a good quality multifamily value-add investment opportunity consisting of an attractive unit mix of 16 one-bedroom, 16 two-bedroom, and four three-bedroom units. The buyer plans to continue to improve the property and hold long-term,” said Executive Director Pat Knowlton. “The Pueblo region maintains resilient multifamily fundamentals, while investors and developers have shown further interest in the market over the last few years,” mentioned Director Lee Wagner. Located at 1408-1224 E 21st Street, Belmont Heights Apartments is a five-building complex featuring spacious floor plans, with select units also offering extra half-bathrooms and fireplaces, 20 townhome-style units, and outdoor courtyards. The City of Pueblo is approximately 45 miles south of Colorado Springs and 100 miles south of Denver.

- 8% In-Place Cap Rate. - Great investment opportunity with immediate cash flow, also primed for an owner occupant. - Properties are also available to be purchased individually. Royal Crest Portfolio is an exciting opportunity comprised of 12 units located in the Southwest submarket of Pueblo, CO. The properties offer spacious, townhome style 2-bedroom, 1 ½-bathroom apartment homes with private patios and off-street parking. The properties benefit from its close proximity to several employers including Wal-Mart, Starbucks, Verizon, Discount Tire and various dining & retail. Additionally, the properties are adjacent to nearby parks and suburban neighborhoods such as Kaden C Burger Sports Complex, Pueblo South Football Field & Lehigh Park allow new coming residence to feel right at home. Royal Crest Apartments are perfectly positioned to capitalize on the limited supply and high rental demand in the Pueblo market. The attractiveness of these assets is magnified by the limited number of performing properties available in this market. Recent Renovations: Roughly 75% of the units at Royal Crest Apartments have undergone recent renovations. Updates include new LVP flooring and fresh paint throughout. Several units have received new bathroom vanities, tile tub surrounds and updated lighting. These improvements not only increase rental rates and tenant satisfaction but also contribute to the property’s longterm value. Turn-key Investment: Current management has positioned these properties with great in-place rents, immediate cash flow and predictable returns. Tenants are responsible for all utilities including water, sewer and trash affording the owner net-zero utility expense. Investors have the opportunity to take advantage of current management offering to stay in-place for a highly competitive fee of 5%.