1007 & 1009 E Boulder Street
Multifamily | 3 Units
Marketing description
The property at 1007 & 1009 E Boulder Street is a 3-unit multifamily asset located in the Middle Shooks Run / Central Colorado Springs submarket, just east of downtown. Originally constructed in 1908, the asset offers 2,024 SF of rentable space across a mix of unit types, presenting a classic early-20th-century structure with modern rental adaptability.
The property appears to function as a triplex configuration consisting of: A detached or rear cottage-style unit (1007) and an upper-level unit and additional unit configuration at 1009 (duplex-style layout).
This asset benefits from strong in-place rental demand, proximity to employment centers, and increasing desirability of walkable urban neighborhoods in Colorado Springs. With furnished rental history and included utilities, the property demonstrates flexibility for short-term, mid-term, or traditional leasing strategies.
Investment highlights
- 1009 E Boulder includes - 3 Bed / 1 Bath unit ~1,150 SQFT with an additional ADU which includes a 2 Bed / 1 Bath with a private entrance
- 1007 E Boulder includes - 1 Bed / 1 Bath cottage ~975 SQFT
- Estimated rents: ~$1,700-$2,500/month per unit based on recent listings
- Ability to operate as: Long-term rentals, Furnished/midterm housing (travel nurses, corporate housing), Househack opportunity for owner-occupant
- Early 1900s architecture with modern updates (quartz counters, hardwood floors, updated appliances)
- Differentiated product vs. newer suburban apartments
- Boutique-style rental positioning possible
- 1908 vintage construction allows for: Interior modernization (kitchens, baths, systems), Exterior enhancements and curb appeal upgrades
- Comparable nearby duplexes/triplexes show repositioning upside and rental growth potential
- Opportunity to increase rents through: Unit upgrades, Utility bill-back strategies, Lease restructuring (currently utilities included)
- Central Colorado Springs exhibits: Consistent renter demand due to affordability vs. Denver, High occupancy in similar small multifamily assets
- Proximity to downtown drives: Young professionals, Medical workforce, Students and faculty
- Situated minutes from downtown Colorado Springs
- Walkable/bikeable to employment, dining, and retail
- Strong renter appeal due to proximity to healthcare and education hubs
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