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Multifamily

The Incline Apartments & Studios

3125 Sinton Rd, Colorado Springs, CO 80907

Listing Price: Request For Offer

Number of Units
189
Gross SF
88,604

Investment Overview

Marcus & Millichap is pleased to present The Incline Apartments & Studios. This property is a 189-unit multifamily asset located in Northern Colorado Springs. Conveniently located adjacent to I-25 and West Fillmore Street, the property has excellent visibility and provides residents easy access to employment, entertainment, and restaurant options in Colorado Springs. Originally developed in 1972, The Incline has been meticulously renovated over the past three years and offers future ownership a clear path to continued value creation. With nearly $1.7 million in capital expenditures completed since 2019, the property offers a clean slate for the next investor to perform cosmetic renovations while enjoying strong cash flow from day one of ownership. The Incline features spacious studio, one-bedroom, and two-bedroom units as well as a wide array of community amenities not commonly offered by nearby, competing properties. The property offers residents efficient, well laid out units that maximize living space while coming at a lower cost that offers more financial flexibility. The average market rent in Colorado Springs for 50+ unit properties reached $1,501* in the second quarter of 2022, which is $402 more than the proforma asking rent of a studio unit at The Incline. With few studios and/or micro-units in Colorado Springs, The Incline offers residents a discount relative to most other properties and is well-positioned to take advantage of the lack of studio and/or micro-units in Colorado Springs. Popular amenities include bike storage, a clubhouse, community kitchen, fitness center, grilling station, heated indoor pool, laundry facilities, dog park, and more. Additionally, there is approximately two acres of developable land on the southeast corner of the parcel, offering new ownership space for future development or community amenity expansion.

Investment Highlights

  • Major Capital Improvements Complete
  • Proven Value Add Opportunity
  • Limited Competing Supply (Studio Units)
  • Top Performing Colorado Springs Market
  • Expansive Amenity Package

Exclusively Listed By

Financing By

Multifamily

The Incline Apartments & Studios

Listing Price: Request For Offer

Number of Units
189
Gross SF
88,604

Investment Highlights

  • Major Capital Improvements Complete
  • Proven Value Add Opportunity
  • Limited Competing Supply (Studio Units)
  • Top Performing Colorado Springs Market
  • Expansive Amenity Package

Investment Overview

Marcus & Millichap is pleased to present The Incline Apartments & Studios. This property is a 189-unit multifamily asset located in Northern Colorado Springs. Conveniently located adjacent to I-25 and West Fillmore Street, the property has excellent visibility and provides residents easy access to employment, entertainment, and restaurant options in Colorado Springs. Originally developed in 1972, The Incline has been meticulously renovated over the past three years and offers future ownership a clear path to continued value creation. With nearly $1.7 million in capital expenditures completed since 2019, the property offers a clean slate for the next investor to perform cosmetic renovations while enjoying strong cash flow from day one of ownership. The Incline features spacious studio, one-bedroom, and two-bedroom units as well as a wide array of community amenities not commonly offered by nearby, competing properties. The property offers residents efficient, well laid out units that maximize living space while coming at a lower cost that offers more financial flexibility. The average market rent in Colorado Springs for 50+ unit properties reached $1,501* in the second quarter of 2022, which is $402 more than the proforma asking rent of a studio unit at The Incline. With few studios and/or micro-units in Colorado Springs, The Incline offers residents a discount relative to most other properties and is well-positioned to take advantage of the lack of studio and/or micro-units in Colorado Springs. Popular amenities include bike storage, a clubhouse, community kitchen, fitness center, grilling station, heated indoor pool, laundry facilities, dog park, and more. Additionally, there is approximately two acres of developable land on the southeast corner of the parcel, offering new ownership space for future development or community amenity expansion.

Exclusively Listed By

Financing By

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