Red Canon Apartments

Capstone Apartment Partners is pleased to present a compelling investment opportunity: a recently refreshed 10-unit multifamily apartment situated in Colorado
Springs. Nestled between the charming Old Colorado City and the scenic Manitou Springs, this property enjoys a prime location that caters to both urban
professionals working downtown and outdoor enthusiasts looking for mountains right outside their backdoor.

Originally constructed in the 1950s, the property has undergone a significant transformation under the current ownership, transitioning from an Airbnb-focused
operation to a long-term lease model. The strategic shift opens doors for savvy investors to capitalize on the stability and potential of this attractive asset.

A key highlight of this property is its thoughtfully updated interior spaces, now featuring refreshed unit interiors complete with modern amenities, and a crucial
addition of new air-conditioning systems. This infusion of contemporary comfort ensures tenant satisfaction and enhances the overall appeal of the units.
The property’s unit mix, comprising of spacious studios and 1-bedroom/1-bathroom units, forms the foundation for strong cash flow potential. As occupancy
rates rise, the projected annual net operating income is estimated to reach approximately $100,000. This robust income stream, coupled with the renewed
interiors, positions the property as a reliable income generator for discerning investors.

Beyond immediate cash flow, the strategic location, supported by resilient market fundamentals and recent enhancements made during the Airbnb era, places
this property on a trajectory of potential appreciation upside. Its close-proximity to Downtown Colorado Springs and its seamless blend of urban amenities
with natural beauty make it an attractive prospect for long-term value growth.

In summary, this 10-unit multifamily apartment represents a prime investment opportunity in Colorado Springs. The confluence of strategic location, updated
interiors, and a transition to long-term leases positions the property to deliver both consistent cash flow and future appreciation potential. Investors seeking a
balance of stability and growth are invited to explore this offering and capitalize on its promising prospects.