Value-Add Multifamily Investment
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3349 E Fountain Blvd, Colorado Springs, CO 80910
49-unit multifamily community with strong rent upside in Colorado Springs.
Property SizeContact for details
Days on Market150
Property Features for 3349 E Fountain Blvd
General Information
Standard status
Active
Class
C
Total Parking Spaces
50
Property subtype
Multifamily
Zoning
R-5
Occupancy
100%
Investment Type
Value Add
Net Operating Income
$306,332
Building Details
Year Built
1971
Buildings
4
Stories
3
Units
49
Listing Agency:
CBRE - Denver Downtown
Listed By:
Willy Holliday · License #CO 100098089
Source:
Crexi
Added: Mar 16
Changed: Aug 8
Last Checked: Aug 8 at 6:40AM
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 CBRE - Denver Downtown
Investment Insights
Based on property information with market context.
The Lofts at Rock Vue presents an opportunity to acquire a 49-unit multifamily community in Colorado Springs. Constructed in 1971, the property has undergone upgrades since 2023, including unit interior renovations, electrical panel replacements, structural foundation improvements, a new boiler system, a new fitness center, security system installation, and exterior improvements. The property consists of 49 units across four buildings, featuring a mix of one-bedroom and two-bedroom loft-style floorplans averaging 781 square feet. The units have loft layouts and private balconies/patios. The property is located near the intersection of Academy Boulevard and Fountain Boulevard, providing access to the Aviation Corridor and Downtown Colorado Springs. The Aviation Corridor supports over 50,000 jobs, while Downtown Colorado Springs anchors more than 32,000 jobs. Current effective rents average approximately $1,002 per unit. Market comparisons indicate the property is charging roughly $139 below comparable rents. Colorado Springs is experiencing economic and population growth driven by defense, aerospace, healthcare, and technology employment. Residents at the property currently enjoy an estimated 70% cost savings compared to homeownership in the surrounding area.
Key Highlights
- Significant Rent Upside: Current rents are $139 below comparable properties.
- Extensive Recent Renovations: Substantial capital improvements completed since 2023, including unit interiors, electrical, structural, and new amenities.
- Strong Employment Hub Proximity: Located near major employment centers supporting consistent renter demand.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
557
Businesses Nearby
Explore this area
Business Placement
Demographics for 80910, CO
30,991
Population
13,940
Households
2.2
Avg Household Size
32
Median Age
25%
College-Educated
89%
High-School Grad
6.1 sq mi
ZIP Area
5,080
Density / Sq Mi
$56,681
Median Household Income
$37,110
Median Earnings
$1,299
Median Rent
$276,900
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - 49-unit multifamily community with strong rent upside in Colorado Springs.
Where is this apartment building located?
The property is located at 3349 E Fountain Blvd Colorado Springs, CO.
What is the asking price?
The asking price for this property is $4,900,000.
What are key features of this property?
This property features: Significant Rent Upside: Current rents are $139 below comparable properties.; Extensive Recent Renovations: Substantial capital improvements completed since 2023, including unit interiors, electrical, structural, and new amenities.; Strong Employment Hub Proximity: Located near major employment centers supporting consistent renter demand.
