Marcus & Millichap is pleased to present Parker Place Apartments, a 54-unit multifamily community located in Colorado Springs, Colorado that caters to a 55+ demographic and veteran residents. Offered at $4,000,000, or approximately $74,074 per unit, Parker Place presents investors with a compelling opportunity to acquire a fully renovated and stabilized multifamily asset at an exceptionally low basis while achieving an 8.32% going-in cap rate, increasing to 9.15% in Year 1, with projected cash-on-cash returns exceeding 10% throughout the hold period.

The property has undergone an extensive renovation program encompassing apartment interiors, common areas, and resident amenities, including the addition of a new fitness center. With these improvements already completed, future ownership can benefit from a renovated physical asset without the significant capital requirements and execution risk typically associated with a traditional value-add investment. Parker Place is currently 100% occupied, providing immediate stabilized cash flow and demonstrating strong demand for the property’s renovated rental product and community-oriented environment.

Parker Place’s resident profile provides an additional point of differentiation within the Colorado Springs multifamily market. The property caters to a 55+ demographic and veteran residents while remaining open to the broader rental market, creating a community-oriented housing environment without limiting its overall renter base.

At 54 units and approximately $74,074 per unit, Parker Place offers a differentiated combination of exceptional yield, attractive basis, meaningful scale, stabilized operations, and a unique resident profile. The opportunity to acquire a fully renovated and fully occupied community at this basis, while generating double-digit projected cash-on-cash returns, creates a compelling investment opportunity within the Colorado Springs multifamily market.