Capstone Companies has closed the sale of 512 & 528 Yale Place, two 4-unit multifamily properties in Cañon City, Colorado (just south of Colorado Springs) for the sale price of $1,425,000.
The meticulously-maintained eight unit property consists of all large 2-bedroom, 1.5-bath townhome-style units. Each unit features two parking spaces, wall A/C, in-unit washer and dryer hookups, and access to a large common backyard. With immediate potential for rental income growth through cosmetic upgrades to kitchens and baths, Yale Place presents a great value-add opportunity for the new owner, .
Yale Place is conveniently located near major employment centers such as St. Thomas More Hospital, Royal George Railroad, and the Colorado Correctional Facility. Yale Place benefits from a highly insulated marker with resilient economic activity, consistent rental demand, and limited vacancy ensuring stable and attractive returns for investors.
“We received several competitive offers through our direct-to-buyer marketing campaign and ultimately decided to go with this group due to their local presence, affinity for Cañon City, and the ability to close all-cash.” Said Benton Adams of Capstone.
Capstone was founded in 2008 with a vision to better serve the stakeholders involved in the shift of the for-sale residential market toward growth & demand in rental assets. We built an all-inclusive platform supporting multifamily investment in its many forms. Since then, Capstone has risen to support clients with a continuously expanding range of services across an ever-growing geographic coverage. As rental markets continue to evolve, Capstone is more equipped than ever to offer the service and inventory that real estate professionals need.
