650-654 Inca Parkway
Boulder, CO, 80303 $ 2,910,000
Baths0.0 Sq 5,589 Monthly Estimate*
$ 17,917
Listed by Stellar Properties, LLC
Studio for $2,910,000. This 5,589 square foot home was built in 1962 on a lot size of 0.28.
Well-maintained and high-performing triplex in a Williams Village neighborhood, offering a rare combination of high in-place income, long-term tenant stability, and future upside. Each of the three units features 5 bedrooms and 2 bathrooms, resulting in an income profile that outperforms that of typical small multifamily properties. The property has achieved 100% occupancy during ownership, with a consistent history of tenant retention and steady rent growth. Current leases are in place through August 2027, providing immediate income stability for a new owner. The tenant base has historically included academically focused renters, contributing to lower turnover and reliable performance. Extensive capital improvements have been completed over time, including roof replacement, updated windows, remodeled kitchens and bathrooms, furnace upgrades, sump pumps, radon mitigation, and appliance replacement. The result is a well-cared-for asset with minimal deferred maintenance. Located in an established residential setting with convenient access to transit along Baseline Road, bike routes, and nearby amenities, including parks, recreation, and neighborhood shopping. The property is also within close proximity to the University of Colorado, supporting consistent rental demand. Additional upside potential exists through interior updates to one unit and continued rent optimization over time. RM-2 zoning allows for flexibility in future use (subject to City of Boulder approval), adding long-term optionality. A compelling opportunity for investors seeking stable income, strong rental fundamentals, and a well-maintained asset in one of Boulder's most desirable rental markets. Financials: Cap Rate - 5.15; GRM - 16.42; NOI - $149,987; Vacancy Rate - 0.
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FeaturesGeneralSewer Public Sewer
Heating Forced Air
Utilities Cable Available Electricity Available Internet Access (Wired) Natural Gas Available
Possession Closing/DOD
Roof Composition
Appliances Dishwasher Dryer Oven Refrigerator Washer
Zoning HRE
Architectural Style Contemporary
Construction Materials Brick
Exclusions Tenants personal belongings
Year Built 1962
Tenant Pays Electricity Gas Trash Collection Water
Levels One
Property Subtype Triplex
Tax Year 2025
Ownership Individual
Gross Income 14520
County Boulder
Net Operating Income 149987
Operating Expense 27253
Property Type Residential Income
HOA N
Subdivision Name Frasier Meadows
Facing Direction West
Possible Use Multi-Family
Status Active
High School Fairview
City Boulder
High School District Boulder Valley RE 2
Number Of Units Total 3
Lot Size Square Feet 12211
Listing Terms 1031 Exchange Cash Conventional
Elementary School Eisenhower
Tax Annual Amount 10098
Middle/Junior High School Manhattan
Concessions No
Standard Status Active
Occupancy Type Tenant
Elementary School District Boulder Valley RE 2
Cap Rate 5.15
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InteriorBasement Full
Flooring Wood
Basement (Y/N) Y
Window Features Window Coverings
Main Level Bedrooms 0
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ExteriorVegetation Wooded
Fencing Partial
Water Source Public
Total Parking 3
Building Area Total 5589
Lot Size Acres 0.28
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* Excluded FeaturesList ByStellar Properties, LlcBroker
Affordability Calculator
- Monthly Principal & Interest
- $17,917
- Monthly Property Taxes
- $842
- Monthly Home Insurance
- --
Default based on a 30-year fixed rate of 6.25% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.
Learn more about how to save NearbyMulti-family listings in Boulder, CO
Average List Price $1,880,308
Percent of Sale Price 35%
About Boulder, CO 102,151 Population
6% Since 2002
$ 65,436 Median Income
31.88 Median Age
18% Households with Children
Trends Information provided by ATTOM Data Solutions.
3042934 Elementary School
1957357 Middle School
Fairview High School High School
Pricing History| Date | Price | Price Change | Description |
|---|
| 4/29/2026 | $2,910,000 | | Listed Price |