176-Unit Apartment
2850 S Circle Dr, Colorado Springs, CO 80906
For Sale
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The proposed plan would adapt an existing hospitality property for studio apartment use.
Property Size82,764 SF
Days on Market50
Property Features for 2850 S Circle Dr
General Information
Standard status
Size
Property subtype
Occupancy
Property Condition
Severity
Evidence
Site & Location
Neighborhood
Additional Details
Asking Price
Amenities
176-Unit Hotel-to-Multifamily Conversion
$72,600/Unit Projected A II-In Basis
Existing Amenity Package Built for Multifamily
$949 Starting Rents | Attainable Housing
$11.37M+ of Prior Capital Investment
71% Reduction in New Supply Pipeline
Building Details
Building Size
Units
Listing Agency:
Denver Office
Listed By:
Greg Parker
(303) 328-2015
Source:
Marcusmillichap
Added: Sep 26
Changed: Oct 26
Last Checked: Nov 12 at 4:10AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Denver Office
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Investment Insights
Based on property information with market context.
At 2850 S Circle Drive in Colorado Springs, the property is an existing hospitality asset with a proposed conversion to 176 studio apartments. The studios are planned to average approximately 350 square feet each, using the current structure and infrastructure rather than developing a new building.
The conversion plan includes completing a change of use and annexation. The property is in southeast Colorado Springs.
The conversion plan includes completing a change of use and annexation. The property is in southeast Colorado Springs.
Key Highlights
- Proposed 176‑unit multifamily conversion
- Planned studio apartments averaging approximately 350 square feet
- Existing hospitality property at 2850 S Circle Drive in Colorado Springs
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
777
Businesses Nearby
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Business Placement
Demographics for 80906, CO
39,019
Population
16,771
Households
2.3
Avg Household Size
39
Median Age
49%
College-Educated
95%
High-School Grad
45.6 sq mi
ZIP Area
856
Density / Sq Mi
$88,047
Median Household Income
$47,314
Median Earnings
$1,634
Median Rent
$543,400
Median Home Value
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Market
Properties on Market for Apartment buildings in Colorado Springs
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Apartment building - The proposed plan would adapt an existing hospitality property for studio apartment use.
Where is this apartment building located?
The property is located at 2850 S Circle Dr Colorado Springs, CO.
What are key features of this property?
This property features: Proposed 176‑unit multifamily conversion; Planned studio apartments averaging approximately 350 square feet; Existing hospitality property at 2850 S Circle Drive in Colorado Springs
