Property Back to Results Property

2625 Ore Mill Rd, Colorado Springs, CO 80904

$4,000,000
: 54
BD
: 54
BA
: 22,068
SqFt

Add to Favorites New Search

Show Photos

Verify your account to unlock exclusive photos, mortgage tools, and more.

Add to Favorites

List Price: $4,000,000
Type: Multifamily
Property Sub Type: Quadruplex
Status: ACTIVE
MLS Number: 5902137
Bedrooms: 54
Bathrooms: 54
Sqft Total: 22,068
Year Built: 1983

Refine Search

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.

(303) 522-8226

Search All Properties

Additional Information

Tax Amount: $34,180
Sewer: Public Sewer
Heating: Forced Air
Cooling: Room
School District: Colorado Springs 11
Elementary School: Midland
Middle Or Junior School: Holmes
High School: Coronado