Suburban Studios
Multifamily
Marketing description
An exceptional value-add opportunity to acquire a 48-unit, fully fire-sprinklered building in the rapidly expanding Cañon City corridor. Currently operating as an extended-stay hotel (Suburban Studios), this property is in the process of being subdivided onto its own dedicated parcel and is perfectly positioned for a highly profitable Change-of-Use conversion to Senior Housing, Workforce Housing, or standard Multifamily Apartments.
Located directly adjacent to major incoming master-planned developments, the property offers a rare chance to bring much-needed density to a supply-constrained market without the massive capital expenditures typically associated with retrofitting older buildings for residential fire code compliance.
Investment highlights
Massive CapEx Savings (Fully Sprinklered): The building is already fully equipped with a commercial fire sprinkler system. This eliminates one of the most expensive and time-consuming hurdles of a residential Change-of-Use conversion, saving the next owner hundreds of thousands of dollars in retrofits.
Attractive Basis: At $52k per door, this asset offers a low-entry basis in a high-demand Colorado submarket.
Strategic Location & Contiguous Growth: Situated directly along the US Highway 50 corridor and immediately contiguous to major, multi-million dollar capital projects, including the 850+ unit "Cañon City Commons at the Abbey" development and the expanding Four Mile Ranch.
Immediate Workforce Housing Potential: With massive construction crews mobilizing for adjacent developments, these 48 units can be rapidly transitioned into highly lucrative workforce housing or early-phase multifamily inventory to generate immediate cash flow.
Flexible Re-Zoning Precedent: The parcel immediately behind this property is already zoned and operating as a high-density apartment complex, establishing a strong historical and contiguous precedent for high-density residential zoning on this footprint.
Full Portfolio Option: The owner is also open to a total exit of the contiguous 152-room footprint—including the operating hotel, exterior pool, and restaurant—for $6,500,000
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