1255 Basalt Rdg Castle Rock, CO 80108
- Residential income homes
- 40,469 SF
- 1.70 lot acres
Current Use by Public Records
- Residential income homes
Property Details for 1255 Basalt Rdg
- Year built
- 2015
- Lot size
- 1.70 lot acres
- Property size
- 40,469 SF
- Property type
- Residential income homes
Description
Exceptional investment opportunity: This portfolio comprises ten single-family rental homes in Castle Rock, Colorado, totaling 40,469 square feet across a 1.7-acre lot. Built around 2015, these properties boast an average of 4,047 square feet per home, featuring over four bedrooms each, making them highly attractive to families. The current Net Operating Income (NOI) stands at $295,424, with a pro-forma NOI projected at $325,868, offering significant income potential. All ten homes are located within a 35-minute radius of each other in Douglas County, with addresses spanning Basalt Rdg Lp, Sidewinder Cir, Sidewinder Loop, Ambience Ln, Grady Cir, Holmby Ct, Open Sky Way, Prairie Vista Dr, and Sage Grouse Cir, all within zip codes 80104, 80108, and 80109. The asking price is $5,950,000, representing a price per unit of $630,000. Low vacancy rates and long-term tenants ensure stable cash flow. Recent roof inspections, with three roofs recently replaced, minimize maintenance needs. Homeowners association fees provide access to community amenities including pools, sports courts, and parks. The portfolio benefits from home warranties covering repairs and maintenance, and presents a strong long-term investment in a thriving market with an average annual home appreciation of 8.48% over the past decade. This offering presents an immediate value increase exceeding $1,000,000 upon closing.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Castle Rock
- County
- Douglas
- State
- Colorado
- Longitude
- -104.812
- Latitude
- 39.3798
