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    Multi-Unit Property in Knob Hill Title is generated by Realmo AI

    11 Bonfoy Avenue, Colorado Springs, CO 80909

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    Claim this Listing
    For Sale
    $600,000

    MULTI_FAMILY - Colorado Springs, CO

    Lot size:
    0.20 Acres
    Added:
    Apr 17, 2026
    Days on Market:
    47
    Last Refresh:
    Jun 2 at 4:06 am

    Property Features for 11 Bonfoy Avenue

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Basement
    Partial
    Standard status
    Active
    Lot size
    0.20 Acres

    Taxes and HOA fees

    Tax Year
    2024
    Tax Annual Amount
    1317

    Utilities

    Heating system
    Natural Gas, Forced Air
    Cooling system
    Central Air

    Building Details

    Year built
    1934
    Roof type
    Shingle

    We can help!

    Listing Contact
    Camellia Coray
    Camellia Coray

    Listing agent Camellia Coray License #40042316

    Listing office Coldwell Banker Realty 1755 Telstar Drive, Suite 250, Colorado Springs, CO

    Listing date Apr 17, 2026

    MLS# 4869255 Listing URL

    Copyright © 2026 elevateMLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Multi‑unit property with separate entrances for each unit, offering privacy and potential rental income.
    • Each unit has its own mini‑split system for AC and heat (permitted in 2022).
    • Excellent location within walking distance to Memorial Park and easy access to downtown Colorado Springs.
    • Lower residences and cottages feature their own fenced yards.
    • Updated electrical system (2022) and newer roof (permitted in 2021).
    • On‑site coin‑operated laundry provides additional utility and income.

    Overview

    Located in the Knob Hill area, this multi-unit property offers a versatile opportunity. The units feature separate entrances. All units have their own mini-splits for AC and heat, permitted in 2022. Each lower residence and cottages enjoy their own fenced yards, providing defined outdoor space. The 2 upper units have balconies. The electrical system was updated in 2022. A main level on-site coin-operated laundry setup offers additional utility and income. A newer roof was permitted in 2021. The property includes a security system, a deposit/rent dropbox in the main hall, and a big basement area for storage. A couple of units have their own storage shed. The layout supports both privacy and convenience across the units, while the overall configuration allows for a range of potential uses. Positioned within walking distance to Memorial Park and offering easy access to downtown Colorado Springs, as well as nearby thoroughfares, the location combines accessibility with proximity to everyday amenities. The lot size is 0.2009 acres.
    Property Profile Location Intelligence

    Current Use by Public Records

    Multifamily properties

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Dental Office Spa & Massage Center Big Box & Wholesale Store Hair Salon Auto Repair Shop Nail Salon

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Colorado Springs
    County
    El Paso
    State
    Colorado
    Longitude
    -104.792915
    Latitude
    38.833389

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    FAQs

    What type of property is this?
    Multifamily property - Multi-unit property with separate entrances, yards, and updated systems.
    Where is this multifamily property located?
    The property is located at 11 Bonfoy Avenue Colorado Springs, CO.
    What is the asking price?
    The asking price for this property is $600,000.
    What are key features of this property?
    This property features: Multi‑unit property with separate entrances for each unit, offering privacy and potential rental income.; Each unit has its own mini‑split system for AC and heat (permitted in 2022).; Excellent location within walking distance to Memorial Park and easy access to downtown Colorado Springs.
    (719) 550-2500
    We can help!
    Listing Contact
    Camellia Coray
    Camellia Coray
    Real Estate License ID: 40042316
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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