6664-6670 Provincial Dr - Apartments FOR SALE


Fountain, CO 80817
$650,000 USD
720-496-8868
6664-6670 Provincial Dr, Fountain, CO for Sale
$650,000 USD
Apartments - FOR SALE
1/13
null | Request Cap Rate

6664-6670 Provincial Dr
Fountain, CO 80817


HIGHLIGHTS

  • ~15% loss-to-lease — in-place rents of $1,100 sit roughly 15% below the $1,295 achievable market rent on turn.
  • ~40% NOI growth from $30,415 (T-12) to $42,568 (Year 1 pro forma) via mark-to-market rents and RUBS implementation.
  • Fort Carson–anchored demand — ~8 miles / 12 minutes to a post of 26,000+ active-duty soldiers, ~57% living off-post.
  • I-25 corridor access via the Mesa Ridge Pkwy interchange — ~12 miles to downtown Colorado Springs.
  • Comp-validated basis — the same-street 6600–6606 Provincial Dr fourplex traded at $161,000/unit ($210/SF) in Oct 2025.
  • Newest-vintage asset in the comp set (1987) with larger ~810 SF plans that reduce turnover in a military-family renter cohort.

OVERVIEW

MODUS Real Estate is pleased to present 6664–6670 Provincial Dr, a 4-unit multifamily asset in Fountain, Colorado — the closest incorporated community to Fort Carson and a core rental market within the Colorado Springs MSA. The property is an all-two-bedroom quadplex totaling approximately 3,442 net rentable square feet, built in 1987. The asset is currently 95% occupied with in-place rents of $1,100/month, roughly 15% below the $1,295/month market rent supported by recent quadplex leasing in the immediate submarket. Executing a mark-to-market turn strategy alongside a RUBS utility bill-back drives NOI from $30,415 (T-12) to $42,568 (Year 1 pro forma) — approximately 40% NOI growth — expanding the going-in cap rate from 4.68% to a stabilized 6.55%. Demand is anchored by Fort Carson (~8 miles north; 26,000+ active-duty soldiers, ~40,000 family members, 57% living off-post) and reinforced by Peterson and Schriever Space Force Bases. As the newest asset among recent Provincial Dr and Alegre Cir quadplex sales, the pricing is directly validated by the same-street 6600–6606 Provincial Dr sale at $161,000/unit.

FOR SALE DETAILS

PRICE

$650,000 USD

PRICE/SF

$189 USD /SF

# OF UNITS

4

PRICE/UNIT

$162,500

CAP RATE

Request Cap Rate

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1987

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.19 AC

LAND SF

8,310 SF

ZONING

FOUNTAIN

APN/PARCEL ID

65144-02-004

ASK ABOUT THIS PROPERTY

Andrew StephensMODUS Real EstateMore Info
720-496-8868

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Andrew StephensMODUS Real EstateMore Info
720-496-8868

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.