2625 Ore Mill RD, Colorado Springs, CO 80904
2625 Ore Mill RD, Colorado Springs, CO 80904
2625 Ore Mill RD, Colorado Springs, CO 80904
2625 Ore Mill RD, Colorado Springs, CO 80904
2625 Ore Mill RD, Colorado Springs, CO 80904
2625 Ore Mill RD, Colorado Springs, CO 80904
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Chad Patterson

Chad Patterson

+1(970) 518-5462
$ 4,000,000
Est. payment | /mo

54 Beds

54 Baths

22,068 SqFt

Save
$ 4,000,000
Est. payment | /mo
Save

54 Beds

54 Baths

22,068 SqFt

Key Details

Property Type Single Family Home

Listing Status Active

Purchase Type For Sale

Square Footage 22,068 sqft

Subdivision Midland Greens

MLS Listing ID IRE5902137

Bedrooms 54

HOA Y/N No

Year Built 1983

Annual Tax Amount $34,180

Tax Year 2025

Source ires

Property Description

Parker Place Apartments is a 54-unit, fully renovated and 100% occupied multifamily community in Colorado Springs. Offered at $4.0 million, or approximately $74,074 per unit, the property provides an attractive low-basis investment with an 8.32% going-in cap rate, increasing to 9.15% in Year 1, and projected double-digit cash-on-cash returns. Catering primarily to 55+ and veteran residents while remaining open to the broader rental market, Parker Place combines stabilized cash flow, minimal near-term capital needs, and a differentiated resident profile.

Location

State CO

County El Paso

Community Midland Greens

Area Out Of Area

Zoning MX-M HS P

Interior

Heating Forced Air

Cooling Wall/Window Unit(s)

Exterior

Parking Features Off Street

Garage Spaces 60.0

View Y/N No

Roof Type Other

Garage Yes

Building

Sewer Public Sewer

Level or Stories One

Structure Type Stucco

New Construction false

Schools

Elementary Schools Midland

Middle Schools Holmes

High Schools Colorado Springs 11

School District Colorado Springs 11

Others

Acceptable Financing Cash, Conventional

Listing Terms Cash, Conventional

Special Listing Condition Private Owner, Senior Community

Information and Real Estate Services (IRES)
Listed by Charles Burkhart
NEARBY SCHOOLS & PROPERTIES
Chad Patterson

“My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! ”

+1(970) 518-5462

realestate@chadpatterson.com

201 Coffman Street # 1902, Longmont, Colorado 80502, United States

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2625 Ore Mill RD