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    712.5 Bennett Ave Unit 1 #2, Unit 3 Glenwood Springs, CO 81601

    Sponsored
    For Sale
    Under Contract
    $550,000

    MULTI_FAMILY - Glenwood Springs, CO

    Property size:
    1,586 SF
    Lot size:
    0.06 Acres
    Days on Market:
    10
    Last Refresh:
    Feb 5 at 5:06 pm

    Property Features for 712.5 Bennett Ave Unit 1 #2

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Standard status
    Active Under Contract
    Zoning
    Residential
    Rooms
    Bedroom 2, Bedroom 3, Bathroom 1, Bathroom 3, Bathroom 2, Bedroom 4, Bedroom 1
    Bedrooms
    4
    Bathrooms
    3
    APN
    218509102028
    Parking
    2
    Basement
    Crawl Space
    Size
    1,586 SF
    Lot size
    0.06 Acres

    Utilities

    Heating system
    Forced Air, Natural Gas
    Water source
    Public

    Building Details

    Year built
    1903
    Floors in Building
    2
    Building materials
    Vinyl Siding, Frame
    Roof type
    Composition

    We can help!

    Listing Contact
    Victoria Marrapodi Vance

    eXp Realty, LLC (303) 803-6663

    Listing agent Victoria Marrapodi Vance (970) 366-6651

    Listing date Jan 27, 2026

    MLS# 189291 Listing URL

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

    Learn more

    Property Insight Report

    Overview

    Glenwood Springs Multifamily Investment

    Located in the heart of Glenwood Springs, this multifamily property at 712.5 Bennett Ave offers an investment opportunity. Constructed in 1903 on a 2,500 square foot lot (0.06 acres), the property comprises three units within its 1,586 square feet. Unit 1, a studio apartment on the main floor, includes a separate kitchen area and a full bathroom, and features high vaulted ceilings and premium Pella dual-opening windows. Unit 2, also on the main floor, has a separate living area, a kitchen area, a private bedroom, and a full bathroom. The largest unit, Unit 3, is located on the second floor and features two bedrooms, a full-size bathroom, a separate kitchen and dining area, and a separate living room. The property is located a short distance from shops, restaurants, schools, the Glenwood Hot Springs, trails, Valley View Hospital, Ski Sunlight, and the Vaudeville Revue. It is less than an hour from Aspen and minutes from I-70. The property is zoned residential and has the potential to be restored to its historical charm or renovated.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Apartment buildings

    Map

    City
    Glenwood Springs
    County
    Garfield
    State
    Colorado
    Longitude
    -107.321279
    Latitude
    39.54786

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    FAQs

    What type of property is this?
    Apartment building - Multifamily property in the heart of Glenwood Springs.
    Where is this apartment building located?
    The property is located at 712.5 Bennett Ave Unit 1 #2, Unit 3 Glenwood Springs, CO.
    What is the asking price?
    The asking price for this property is $550,000.
    What are key features of this property?
    This property features: - High income potential: Previously yielded approximately $5,600 per month when fully rented.; - Prime location in the heart of Glenwood Springs, close to shops, restaurants, schools, Glenwood Hot Springs, trails, Valley View Hospital, Ski Sunlight, and the Vaudeville Revue.; - Three separate units offer flexibility for rental income or owner occupancy.
    (970) 366-6651
    Request Owner's contact information
    712.5 Bennett Ave Unit 1 #2, Unit 3 Glenwood Springs, CO 81601
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    Glenwood Springs, CO 81601
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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.

    More about this property
    712.5 Bennett Ave Unit 1 #2, Unit 3 Glenwood Springs, CO 81601
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    We can help!
    Listing Contact
    Victoria Marrapodi Vance
    (970) 366-6651
    Learn more
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