Overview
Cushman & Wakefield presents Copper Stone Apartment Homes located at 2827-2833 E. Pikes Peak Avenue and 23-47 N. Circle Drive in Colorado Springs, Colorado. Constructed in 1964, the property benefits from a highly accessible infill location within the Park Hill neighborhood, offering residents convenient access to downtown Colorado Springs, Interstate 25, Memorial Park, and major employment centers including the Colorado Springs Airport and the Peak Innovation Park, which is estimated to support 35,000+ employees at full build out. The property's central location and premier accessibility positions it to capitalize on continued population growth, employment expansion, and strong renter demand throughout the Colorado Springs market.
Copper Stone offers a diverse mix of studio, one-bedroom, and two-bedroom apartment homes designed to serve a broad resident base. Community amenities include a swimming pool, covered parking, dog park, on-site management, laundry facilities, courtesy patrol services, and outdoor common areas, while many units feature granite countertops, air conditioning, private patios or balconies, and additional storage. These amenities create an attractive resident experience while providing ownership with opportunities to further enhance value through strategic capital improvements and operational efficiencies.
As a stabilized, institutional-scale asset in one of Colorado's fastest-growing metropolitan areas, Copper Stone presents a compelling investment opportunity supported by strong market fundamentals, favorable demographics, and continued demand for attainable workforce housing. The property's established presence, desirable location, strong operational fundamentals and stabilized occupancy, and potential for future revenue growth position it as a valuable multifamily investment within the Colorado Springs market.
Investment Highlights
PROVEN WORKFORCE HOUSING ASSET IN A SUPPLY CONSTRAINED LOCATION
Copper Stone Apartments provides attainable housing in a centrally located submarket that has seen limited new supply during the latest cycle. As affordability challenges continue to drive renter demand across Colorado Springs, well-located workforce housing communities remain positioned to benefit from strong occupancy and tenant retention.
CENTRAL SPRINGS LOCATION WITH PROXIMITY TO DOWNTOWN GROWING EMPLOYMENT CENTERS
Copper Stone is centrally located minutes from the Downtown, the Colorado Springs Airport and the 1,600-acre Peak Innovation Park, slated to house more than 10 million square feet of commercial, industrial, and office space and home to Fortune 100 companies including Amazon, Coca-Cola, Frito-Lay, and Northrup Grumman, supporting a broad and diverse
tenant base.
AMENITY PACKAGE DESIGNED FOR RESIDENT RETENTION
Copper Stone offers a variety of amenities that enhance the resident experience, including a swimming pool, dog park, covered parking, outdoor gathering spaces, on-site management, and laundry facilities. These features contribute to resident satisfaction while helping ownership maintain competitive positioning within the market.
GENERATIONAL PRIDE OF OWNERSHIP & RECENT CAPITAL IMPROVEMENTS
Held by the same long-term ownership group for five decades, Copper Stone features an exceptional level of maintenance and operational care. The asset has been extensively de-risked through major recent capital improvements, including new roofs and updated mechanical systems, significantly mitigating near-term capital expenditure exposure for incoming ownership.
STRONG OPERATIONAL FUNDAMENTALS AND STABILIZED OCCUPANCY PROVIDE CLEAR PATH TO AGENCY
EXECUTION
Historical expense controls, strong collections, and highly resilient tenant retention with current occupancy at 94% have positioned Copper Stone for a seamless agency execution.
BENEFICIARY OF STRONG COLORADO SPRINGS ECONOMIC GROWTH
Colorado Springs continues to be one of Colorado’s fastest-growing metropolitan areas, supported by expansion in the defense, aerospace, healthcare, technology, and education sectors. Major employers, military installations, and continued population growth create a stable foundation for long-term multifamily demand and rent growth.
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