About 650-654 Inca Parkway

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, 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 - 5.5; GRM - 14.14; NOI - $139,582; Vacancy Rate - 0.

Property details

Property

Type: Triplex
MLS type: Residential Income
Status: Active
Year built: 1962
Stories: 1
Lot: 0.28 AC / 12,211 SF
MLS #: 1057694

Interior

Features: Full
Appliances: Dishwasher, Dryer, Oven, Refrigerator, Washer
Flooring: Wood
Heating: Forced Air
Windows: Window Coverings

Exterior & lot

Roof: Composition
Fence: Partial

Schools

District: Boulder Valley RE 2
Elementary: Eisenhower
Middle: Manhattan
High: Fairview

Utilities

Utilities: Cable Available, Electricity Available, Internet Access (Wired), Natural Gas Available
Water: Public
Sewer: Public Sewer

Financial

Annual tax: $10,098
Parcel: R0015155

Location

Subdivision: Frasier Meadows
County: Boulder

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650-654 Inca Parkway