Canon City, CO Capstone has closed the sale of 512 & 528 Yale Place, a two 4-unit multifamily properties in Canon City for the sale price of $1.45 million. Benton Adams of Capstone brokered the transaction.
This eight unit building consists of 2-bedroom, 1.5 bath townhome style units. Each unit is seperately deeded and features two parking spaces, wall A/C, in-unit washer/dryer hookups, and access to a large common backyard. With immediate potential for rental income growth through upgrades to kitchens and baths, Yale Place presented a great value add opportunity for the new owner.
512 & 528 Yale Place is located near major employement centers such as St. Thomas More Hospital, Royal Gorge Railroad and the Colorado Correctional Facility. Yale Place benefits from a market with resilient economic activity, consistent retail demand, and limited vacancy, ensuring stable returns for investors.
"We received several competitive offers through our direct to buyer marketing campaign and ultimatelydecided to go with this group due to their local presence, affinity for Canon City and ability to close all cash," said Adams.
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