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129 Wellington St
Fountain, CO 80817
Multifamily Property For Sale
·
6 Units
Investment Highlights
- Fully stabilized asset with strong in-place rents
- Extensive upgrades include six full unit renovations, updated plumbing systems, and newer roof completed in 2022
- Future RUBS or utility bill-back opportunity to increase NOI
- Turnkey investment featuring significant recent capital improvements
- Tenants currently pay all electric utilities, minimizing owner expense exposure
- Desirable unit mix caters to workforce housing demand and long-term tenant stability
Executive Summary
Rare opportunity to acquire a fully stabilized six-unit building with renovated units and significant capital improvements. 129 Wellington Street presents an opportunity to acquire a stabilize 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.
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.
Property Facts
| Price Per Unit | $182,911 CAD | Building Class | C |
| Sale Type | Investment | Lot Size | 0.30 AC |
| No. Units | 6 | Building Size | 4,242 SF |
| Property Type | Multifamily | No. Stories | 1 |
| Property Subtype | Apartment | Year Built/Renovated | 1986/2022 |
| Apartment Style | Low-Rise | Parking Ratio | 2.36/1,000 SF |
| Zoning | R-2, Fountain | ||
| Price Per Unit | $182,911 CAD |
| Sale Type | Investment |
| No. Units | 6 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.30 AC |
| Building Size | 4,242 SF |
| No. Stories | 1 |
| Year Built/Renovated | 1986/2022 |
| Parking Ratio | 2.36/1,000 SF |
| Zoning | R-2, Fountain |
Amenities
Unit Amenities
- Microwave
- Kitchen
- Hardwood Floors
- Refrigerator
- Oven
- Tub/Shower
- Carpet
- Dining Room
- Handrails
- Porch
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 6 | - | 707 |
Property Taxes
| Parcel Number | 56052-01-007 | Improvements Assessment | $0 CAD |
| Land Assessment | $0 CAD | Total Assessment | $64,709 CAD |
Property Taxes
Parcel Number
56052-01-007
Land Assessment
$0 CAD
Improvements Assessment
$0 CAD
Total Assessment
$64,709 CAD
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