1255 Basalt RdgCastle Rock, CO 80108

Property Details for 1255 Basalt Rdg

Year built

2015

Lot size

1.70 AC

Property size (Sq ft)

40,469 SF

Property type

Investment properties

Property subtype

Multifamily properties

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.

Location Insight

City

Castle Rock

County

Douglas

State

Colorado

Latitude

39.3798

Longitude

-104.812

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