Rare 6-Unit Turnkey Investment Opportunity in Fountain
Rare 6-Unit Turnkey Investment Opportunity in Fountain CO
Marketing description
Rare opportunity to acquire a fully stabilized 6 unit building with renovated units and significant capital improvements. 129 Wellington Street presents an opportunity to acquire a stabilized six-unit multifamily asset in the growing Fountain, Colorado market. Constructed in 1986, the property consists entirely of desirable two-bedroom, one-bathroom units, a unit mix that continues to experience strong demand from workforce renters, military households, and residents seeking affordability within proximity to Colorado Springs employment centers.
The property has undergone substantial capital improvements, significantly reducing near-term deferred maintenance obligations for new ownership. Recent renovations include six complete unit turns, updated plumbing infrastructure, and a newer roof installed in 2022, creating a true turnkey investment opportunity with durable physical systems already addressed.
Operationally, the asset offers immediate cash flow with additional upside potential. Tenants currently pay all electric utilities, while ownership covers water, sewer, and trash services. Future implementation of a utility reimbursement structure or RUBS program could further enhance net operating income and overall operational efficiency. Additionally, the property is currently self-managed, presenting opportunities for professional management to streamline operations and optimize leasing performance.
Located in Fountain, one of the fastest-growing communities in the Pikes Peak region, the property benefits from strong regional economic drivers including military employment, aerospace and defense expansion, healthcare growth, and continued population migration into Southern Colorado. Its proximity to Fort Carson, Interstate 25, and major retail corridors supports long-term tenant demand and occupancy stability.
Overall, 129 Wellington Street represents a well-maintained, income-producing multifamily investment with strong in-place performance, recent capital improvements, and operational upside within a steadily expanding rental market.
Investment highlights
129 Wellington Street presents a compelling opportunity to acquire a fully stabilized six-unit multifamily asset in the growing community of Fountain, Colorado. Constructed in 1986 and totaling approximately 4,242 square feet, the property consists entirely of desirable 2-bedroom, 1-bathroom units, catering to a broad tenant base seeking attainable workforce housing with functional layouts. The asset has undergone significant capital improvements, including six full unit renovations, updated plumbing systems, and a newer roof installed in 2022, providing investors with a turnkey opportunity and reduced near-term maintenance exposure. Current operations offer additional upside potential through professional management implementation and utility reimbursement strategies, as tenants already pay all electric while ownership currently covers water, sewer, and trash expenses with the opportunity to bill back in the future. Located in Fountain, just south of Colorado Springs, the property benefits from strong regional economic drivers including military employment from Fort Carson, expanding population growth, and continued demand for affordable multifamily housing within the Pikes Peak region. Residents enjoy convenient access to major transportation corridors, retail amenities, parks, schools, and employment centers, supporting long-term occupancy stability and consistent rental demand.
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