The Gardens at Hidden Creek

∎

Colorado springs, CO

Available

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.

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 Investment Sales Advisor P: 417.459.2155
O: 800.746.3175 ext. 770
lwagner@capstone-companies.com