Duplex with
124 W Cheyenne Road, Colorado Springs, CO 80906
For Sale
$569,000
Two residential units share a property with separate covered parking arrangements.
Property Size1,801 SF
Price / SF$315.94
Days on Market142
Property Features for 124 W Cheyenne Road
General Information
Standard status
Size
Total Parking Spaces
Property subtype
Site & Location
Neighborhood
Highway Access
Road Access
Additional Details
Multifamily Units
Taxes and HOA fees
Annual Taxes
Building Details
Building Size
Year Built
Listing Agency:
Cushman & Wakefield
Listed By:
Lee Wagner · License CO #100084704
(417) 459-2155
Source:
Pinkrentals
Added: Jun 23
Changed: Nov 7
Last Checked: Nov 10 at 12:54PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Cushman & Wakefield
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Investment Insights
Based on property information with market context.
This 1956 duplex contains two residential units totaling 1,801 square feet. One unit has two carport spaces, while the other includes a two-car garage. The source describes both as two-bedroom layouts; bathroom counts are not included because the details conflict.
The property is on W Cheyenne Road in Colorado Springs, along the South Nevada Avenue and Cheyenne Road corridor. Downtown Colorado Springs, Interstate 25, The Broadmoor, Cheyenne Mountain, and trail systems are identified as nearby destinations.
The property is on W Cheyenne Road in Colorado Springs, along the South Nevada Avenue and Cheyenne Road corridor. Downtown Colorado Springs, Interstate 25, The Broadmoor, Cheyenne Mountain, and trail systems are identified as nearby destinations.
Key Highlights
- Two residential units with 1,801 square feet combined
- Built in 1956
- One unit has two carport spaces; the other has a two‑car garage
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$23,839
Cap Rate
4.19%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$476,780
$476.8K
Cap Rate 7%
$340,557
$340.6K
Cap Rate 9%
$264,878
$264.9K
Market Conditions
NOI Build-Up for 1,801 SF
Gross rent
$35.7K $19.80/SF
− Vacancy
−$1.6K −$0.89/SF
EGI
$34.1K $18.91/SF
− OpEx
−$10.2K −$5.67/SF
NOI
$23.8K $13.24/SF
Area
ZIP 80906
Vacancy
4.50%
Lease Rate
$19.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$476,780
Cap Rate 7%
$340,557
Cap Rate 9%
$264,878
Alternative Uses
Best Use
Multifamily LT 5
$340.6K
$298.0K – $397.3K
NOI $23,839 @ 7.0% cap · market cap 4.19%
Second Best
Apartment 5plus
$315.6K
$276.1K – $368.2K
NOI $22,091 @ 7.0% cap · market cap 3.88%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
855
Businesses Nearby
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Business Placement
Demographics for 80906, CO
39,019
Population
16,771
Households
2.3
Avg Household Size
39
Median Age
49%
College-Educated
95%
High-School Grad
45.6 sq mi
ZIP Area
856
Density / Sq Mi
$88,047
Median Household Income
$47,314
Median Earnings
$1,634
Median Rent
$543,400
Median Home Value
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Market
Average Price Trend$/SF for Duplexes in Colorado Springs, CO
Properties on Market for Duplexes in Colorado Springs
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Duplex - Two residential units share a property with separate covered parking arrangements.
Where is this duplex located?
The property is located at 124 W Cheyenne Road Colorado Springs, CO.
What is the asking price?
The asking price for this property is $569,000.
What are key features of this property?
This property features: Two residential units with 1,801 square feet combined; Built in 1956; One unit has two carport spaces; the other has a two‑car garage
