650-654 Inca Parkway, Boulder, CO 80303

• 5,589 sqft

Property Description

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.

Listing Status:

Active

Data Last Updated:

May 20, 2026 at 11:21PM

Listing Office:

Stellar Properties, LLC : 3034422448

Listing Agent:

Antonio Martinez : 303-886-4065

MLS ID:

IR1057694

Interior

• Appliances: DishwasherDryerOvenRefrigeratorWasher
• Basement: Full
• Flooring: Wood
• Heating: Forced Air

Exterior

• Style: Contemporary
• Parking: Parking spaces: 3

Construction

• Roofing: Composition
• Windows: Window Coverings
• General: One

Location

• Originating MLS: recolorado
• School District: Boulder Valley RE 2
• County: Boulder

Lot

• Zoning: HREN 20 FT LOT 28 & S 70 FT LOT 29 BLK 2 FRASIER MEADOWSR0015155
• Fencing: Partial

Utilities

• Utilities: Cable AvailableElectricity AvailableInternet Access (Wired)Natural Gas Available
• Water: Public
• Sewer: Public Sewer

Financial

• Source: recolorado
• Ownership: Individual
• Exclusions: Tenants personal belongings