Modern Townhomes in Fountain,
303 - 375 East Ohio Avenue Denver, Denver, CO 80209
Thirteen townhomes built in 2021 near downtown Fountain, Colorado.
Type:Multifamily
Property size:
18,936 SFPrice / SF:
$227/SF- Added:
- Sep 25, 2025
- Days on Market:
- 251
- Last Refresh:
- May 8 at 11:30 pm
Property Features for 303 - 375 East Ohio Avenue Denver
General Information
- Standard status
- Active
- Size
- 18,936 SF
- Property subtype
- Multifamily
Building Details
- Year Built
- 2006
Listing agent Phil Dankner License #ER.000183921 (303) 931-0793
Listing office Unique Properties, Inc. (303) 931-0793
Listing date Sep 25, 2025
Source Tcnworldwide
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 Unique Properties, Inc.
HighLights
- Significant below‑market rents offer immediate upside potential through rent increases.
- Built‑to‑rent design with individually deeded units provides flexible exit strategies.
- Each unit has private entries and attached two‑car garages.
- Newer construction (2021) with a new roof (May 2025) reduces near‑term capital expenditure risk.
- HOA controlled by ownership with no monthly dues simplifies management.
- Located in a rapidly growing submarket of Colorado Springs with limited new multifamily construction.
Overview
The Fountain Village Townhomes consist of 13 individually deeded units, centrally located in the historic downtown district of Fountain, Colorado. Completed in 2021, this portfolio offers modern townhomes in a supply-constrained submarket within the Colorado Springs MSA. Originally developed as a build-to-rent community, it provides operational simplicity with the flexibility of individual unit sales. The unit mix includes five 3-bedroom, 2.5-bathroom units and eight 3-bedroom, 3-bathroom floorplans. All units feature private entries and attached two-car garages, with corner units offering patio areas and sliding glass doors. Six townhomes include private decks. Interior upgrades feature stainless steel appliances, new kitchen hardware, modern countertops, vinyl flooring, and updated bathroom tiles and fixtures. Each townhome is equipped with independent forced-air heating and central air conditioning, with all utilities separately metered and billed directly to tenants. A new Class 4 asphalt shingle roof was installed in May 2025. Positioned just off Santa Fe Avenue, the property offers accessibility for residents and visibility within the neighborhood. The HOA is under the control of current ownership, resulting in no monthly payment obligation. Each unit is currently renting below market rates. The property is located just off Santa Fe Avenue, offering visibility and access to downtown Fountain, I-25, and nearby employment centers. Half of the original development has already been sold individually, demonstrating a proven exit strategy. Fountain is a growing community in the southern pocket of the Colorado Springs MSA, near Fort Carson Army Base.
Local Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $556.7k | $29.40 |
| − Vacancy | −$34.0k | −$1.79 |
| EGI | $522.8k | $27.61 |
| − OpEx | −$235.2k | −$12.42 |
| NOI | $287.5k | $15.18 |
18,936 SF · lease $29.40/SF/yr · vacancy 6.10% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$4.11M
$3.59M – $4.79M
NOI $287,517 @ 7.0% cap · market cap 6.69%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$6.03M
$5.27M – $7.03M
NOI $421,961 @ 7.0% cap · market cap 9.81%
Zoning and permitted uses should be independently verified with local authorities.
Property Profile
Location Intelligence
Current Use by Public Records
Apartment buildings
Location Insight
- Map
- Local Demand
- City
- Denver
- County
- Arapahoe
- State
- Colorado
- Longitude
- -104.981
- Latitude
- 39.7021
Nearby Similar for Sale
FAQs
What type of property is this?
Apartment building - Thirteen townhomes built in 2021 near downtown Fountain, Colorado.
Where is this apartment building located?
The property is located at 303 - 375 East Ohio Avenue Denver Denver, CO.
What is the asking price?
The asking price for this property is $4,300,000.
What are key features of this property?
This property features: Significant below‑market rents offer immediate upside potential through rent increases.; Built‑to‑rent design with individually deeded units provides flexible exit strategies.; Each unit has **private entries** and **attached two‑car garages**.
