83-Bed Student Housing Development Opportunity Near CU Boulder

Student Housing Development Opportunity at 2260 Baseline Road, Boulder, CO
Located in the heart of Boulder, just minutes from the University of Colorado Boulder’s vibrant campus, 2260 Baseline Road presents a rare student housing redevelopment opportunity. This 22,538 SF site is approved for a 29,618 SF, 23-unit development featuring 83 beds, strategically positioned to meet the insatiable demand for high-quality student housing in one of the nation’s most competitive markets. With a projected 2027 net operating income (NOI) of $1,413,965 and a 6.05% stabilized cap rate, this project offers investors a unique chance to capitalize on CU Boulder’s growing student population, limited housing supply, and Boulder’s premium rental market. 2260 Baseline Road is poised to deliver strong returns in a high-barrier-to-entry location, backed by a world-class university and a dynamic, lifestyle-driven community.

INVESTMENT HIGHLIGHTS

• Prime Location Near CU Boulder: Situated at 2260 Baseline Road, the property is ideally situated accross Broadway from CU Boulder, offering unmatched proximity to campus, student amenities, and popular neighborhoods like The Hill. Easy access to public transit, including free bus services for students via the Buff OneCard, enhances its appeal to the university’s 37,000+ students.
• Design Phase: Seller has approved plans for a redevelopment with an underground parking structure. Boulder Planning Board is recommending removing all minimum parking requirements which should be approved by Q3 2025. This will allow the development of the proposed project with surface parking as depicted in the OM. Seller shall include design and schematic documents with the sale. Buyer will need to amend the TEC docs to show the underground parking structure removed.
• Conditional Historic Preservation Approval: The property has secured conditional approval for Historic Preservation Demolition, valid through May 1, 2026, clearing a critical regulatory hurdle and facilitating timely redevelopment of the existing two-story office building into a modern student housing complex.
• Strong Market Fundamentals: Boulder’s student housing market faces chronic undersupply, with limited on-campus options and strict zoning regulations constraining new development. Projected 2027 rents of $5.78/RSF/month and $1,892/bed/month reflect the area’s premium pricing, driven by high demand and low vacancy rates.
• Attractive Financial Metrics: The project offers a total investment price of $23,384,905, with a projected gross income of $1,884,680 and an NOI of $1,413,965 in 2027, yielding a 6.05% CAP rate (proforma). Acquisition costs of $102,410/bed and total costs of $281,746/bed are competitive for Boulder’s high-barrier market.
• Efficient Design and Amenities: With an average of 328 SF per bed and 23 surface parking spaces, the development is designed for modern student living, balancing space efficiency with market-driven features to maximize occupancy and rental income.
• Capitalizing on CU Boulder’s Growth: CU Boulder’s consistent enrollment, academic prestige, and vibrant campus culture ensure stable demand for off-campus housing. The university’s limited on-campus housing capacity pushes upperclassmen and graduate students to seek private options, creating a captive market for this development.
• High-Barrier-to-Entry Market: Boulder’s stringent development regulations and limited land availability create a favorable environment for existing entitled projects, positioning 2260 Baseline Road as a scarce opportunity in a supply-constrained market.