Skip to main content

Multifamily

The Cottages at Dry Creek

6550 Mark Dabling Blvd, Colorado Springs, CO 80919

Listing Price: $10,000,000

Cap Rate
5.00%
Number of Units
192
Price/Unit
$52,083
Price/Gross SF
$60.61
Gross SF
165,000

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.

Investment Highlights

  • Permit-Ready Development: 192-Unit Cottage Style, Build-to-Rent Community
  • Plans for 98 Buildings on over 12 Acres of Land, with a Unit Mix of Two Studio Units, 58 One-Bedroom Units, and 132 Two-Bedroom Units
  • Located in Colorado Springs, less than 15 Minutes from both Downtown Colorado Springs and Garden of the Gods

Exclusively Listed By

Multifamily

The Cottages at Dry Creek

Listing Price: $10,000,000

Cap Rate
5.00%
Number of Units
192
Price/Unit
$52,083
Price/Gross SF
$60.61
Gross SF
165,000

Investment Highlights

  • Permit-Ready Development: 192-Unit Cottage Style, Build-to-Rent Community
  • Plans for 98 Buildings on over 12 Acres of Land, with a Unit Mix of Two Studio Units, 58 One-Bedroom Units, and 132 Two-Bedroom Units
  • Located in Colorado Springs, less than 15 Minutes from both Downtown Colorado Springs and Garden of the Gods

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.

Exclusively Listed By

MM Texture Background
MM Textured Background Lower