A value-added purchase of a 336-unit apartment community situated on a 25.1 acre site. The property, built in 1984, has 45% one-bedroom units, 48% two-bedroom units and 7% three-bedroom units. The property is extrememly unique in this market due to its extrememly low density of only 13.4 units per acre, a tremendous location immediately adjacent to a 740 acre city park, and a very large average unit size of 883 square feet. Substantial rehabilitation of the property was completed including upgrades to all common areas, a total rennovation o the clubhouse and leasing offices and substantial upgrades to the unit interiors.
Project Details:
Location
Colorado Springs, CO
Size
336 units in 39 bldgs
Type
Multi-Family
Seagate Contributions
Acquisition
Asset Management
Opportunistic Investment
Redevelopment
Asset Management
Opportunistic Investment
Redevelopment
Status
Sold
Address
3310 Knoll Lane