properties

Colorado: Garden Terrace Apartments –
Colorado Springs

Gross Building Size: 196 units in seven buildings

A value-added purchase of a 196-unit apartment complex, built in 1971, situated on 5.5 acres. The unit mix is 9% studios, 66% one-bedroom units and 25% two-bedroom units. The property, which enjoys extremely high visibility from a major freeway, represents the only Class B complex within an extremely strong sub-market. Thus, the opportunity included a substantial increase in rental rates without competing directly with the nearby Class A complexes. Substantial rehabilitation of the property has been completed including upgrades to all common areas and unit interiors.

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