Investment Overview

Marcus & Millichap is pleased to present the The Cottages at Dry Creek, a 192-unit multifamily property consisting of cottage-style duplexes situated on over 12 acres of land, and less than 15 minutes from both Downtown Colorado Springs and Garden of the Gods park. The Cottages at Dry Creek is comprised of two studio units, 58 one-bedroom units, and 132 two-bedroom units. These units average 432 square feet, 671 square feet, and 908 square feet, respectively. Community amenities at the property include two community offices, two dog parks, a playground, community grilling area, and large open green space. Located in the foothills of the Rocky Mountains, Colorado Springs has become a hotspot for young, affluent professionals because of its high quality of life and relatively low cost of living. The pandemic catalyzed this trend after many companies implemented long-term or permanent remote work policies, which has lured renters away from pricy urban markets. This trend paired with the shift in consumer preferences that saw renters migrating to less dense areas with greater proximity to outdoor recreation will allow the Colorado Springs Multifamily market to outperform other metro areas for a number of years.