Multifamily investing in Colorado Springs

Colorado Springs is where ZB3 owns its largest property, Southgate Commons, a 77-unit community in the Stratton Meadows neighborhood. We bought it at about $63,000 per door, well below what comparable buildings were trading for.

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We like the Springs for workforce housing. Military and defense employers keep demand steady, and when we bought Southgate in 2025, new apartment supply had fallen sharply from the year before. We think the Springs will recover before Denver does.

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What we look for in Colorado Springs:

• Older buildings in established neighborhoods close to jobs.

• Properties where rents and occupancy lag the market because of management, not location.

• Prices that leave room for a margin of safety.

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Read how we bought Southgate in How We Secured Meadows Pointe and Why It Was a Standout Deal, and our market view in Colorado Multifamily Market: Denver Metro, Colorado Springs and Northern Colorado, both on our blog.

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Common questions

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Is Colorado Springs a good market for apartments right now?

We think it is turning first on the Front Range, as new supply falls off.

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What does ZB3 own in Colorado Springs?

Southgate Commons, 77 units.

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How can I invest with ZB3?

Join the investor list.