The Gardens at Hidden Creek

The Gardens at Hidden Creek

Colorado springs, CO
Available
  • Property Type: Apartments
  • Year Built : 1970
  • Property Size: 80,222 SF / 125 Units

Overview

Capstone Apartment Partners is pleased to present The Gardens at Hidden Creek: a 125-unit apartment community located in Colorado Springs, Colorado. Built in 1970 and recently renovated in 2014, The Gardens at Hidden Creek has been well-maintained as current ownership has implemented significant capital upgrades into this property. These CapEx updates leave incoming ownership with a solid foundation to rehab unit interiors and increase rental revenue moving forward. Colorado Springs has emerged as a choice location for companies relocating from outside states, as well-established companies from all sectors are choosing Colorado Springs to grow their company. The southeast area of the Springs has seen consistent double digit rent growth over the past year and continues to close out sales comps in the $200,000+/unit range.

Investment Highlights

  • Tremendous value add potential : Current ownership has implemented significant capital improvements into the property, to include new boilers, water heaters, repaving the parking lot, and landscaping. This leaves tremendous upside in unit rehabs moving forward, pushing $200—300 per unit in rent increases.
  • Strong submarket fundamentals & demand drivers : Within the southeast area of Colorado Springs, there are a variety of new comparable sales supporting over $200,000 per unit. Due to consistent rent growth and an influx of companies relocating to the area, Colorado Springs will remain a location for continued growth.

Contact Information

Pat Knowlton Senior Advisor P: 719.3648.0423
O: 800.746.3175 ext. 769
pknowlton@capstone-companies.com
Jeff Dimmen Senior Advisor P: 719.459.5756
O: 800.746.3175 ext. 771
jdimmen@capstone-companies.com
Lee Wagner Senior Advisor P: 417.459.2155
O: 800.746.3175 ext. 770
lwagner@capstone-companies.com
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