Townhouse Apartments property trades for $8.7 million

Located at 3125 E. Fountain Blvd. and 1215 Shasta Drive, close to Highway 24, The Townhouse Apartments was constructed in 1965.

A 54-unit apartment property in Colorado Springs sold in an $8.7 million transaction.

According to public records, BHC Associates purchased The Townhouse Apartments from Akhtar Mohammad Khalid.

Patrick Knowlton of Nexus Commercial Realty LLC represented both the buyer and seller.

Located at 3125 E. Fountain Blvd. and 1215 Shasta Drive, close to Highway 24, The Townhouse Apartments was constructed in 1965.

The property features a mix of two- and three-bedroom units.

Each unit also includes private yards with some featuring second-floor balconies.

The buyer is expected to renovate the property and complete the unfinished basements to potentially add an additional unit to each townhome, noted Knowlton. The selling partnership group plans to pursue other investments in different markets/investment segments.

Featured in the November 18-December 1, 2020, issue of CREJ

Jennifer Hayes has been an editor with the CREJ since 2000. Jennifer covers multifamily and industrial news in the Denver metro area plus all property types in Colorado Springs, Southern Colorado, mountain towns and the Western Slope. She also handles High Fives news for the paper and is editor of the Health Care & Senior…