Three-Bedroom Residential Income
For Sale
Contact for pricing
1248 Nichols Boulevard B, Colorado Springs, CO 80907
The residence includes a back patio, spacious kitchen, and large laundry room.
Property Size1,500 SF
Price / SF$1.07
Days on Market66
Property Features for 1248 Nichols Boulevard B
General Information
Standard status
Active
Size
1,500 SF
Total Parking Spaces
1
Property subtype
Multi-Family
Site & Location
Neighborhood
Cragmoor
Units
Unit Mix
1 x 3BR/3BA
Multifamily Units
1
Amenities
kitchen
dining room
patio
laundry room
walk-in closet
3/4 bath
Building Details
Year Built
2003
Listing Agency:
REMAX PROPERTIES
Listed By:
Kurtis Bunck ABR · License #FA40017940
(719) 590-4735
Source:
Hudsonstonegateteam
Added: Aug 19
Changed: Oct 9
Last Checked: Oct 7 at 2:42PM
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 REMAX PROPERTIES
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Investment Insights
Based on property information with market context.
This 2003 residential income property at 1248 Nichols Boulevard C includes a 1,500-square-foot interior unit with three bedrooms, three baths, and a one-car garage. The floor plan features a large kitchen, dining room access to a back patio, and a spacious laundry room. The primary bedroom includes a walk-in closet and adjoining three-quarter bath.
The property is near Portal Park, the Templeton Gap walking trail, and local D-11 schools. A 12 Month lease term is stated for the residence.
The property is near Portal Park, the Templeton Gap walking trail, and local D-11 schools. A 12 Month lease term is stated for the residence.
Key Highlights
- 1,500 sq. ft. interior unit
- Three bedrooms and three baths
- One‑car garage and back patio
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$18,207
Suggested Prices Based on Cap Rates
Cap Rate 5%
$364,140
$364.1K
Cap Rate 7%
$260,100
$260.1K
Cap Rate 9%
$202,300
$202.3K
Market Conditions
NOI Build-Up for 1,500 SF
Gross rent
$34.9K $23.28/SF
− Vacancy
−$1.8K −$1.21/SF
EGI
$33.1K $22.07/SF
− OpEx
−$14.9K −$9.93/SF
NOI
$18.2K $12.14/SF
Area
Colorado Springs, CO
Vacancy
5.20%
Lease Rate
$23.28 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$364,140
Cap Rate 7%
$260,100
Cap Rate 9%
$202,300
Alternative Uses
Best Use
Apartment 5plus
$260.1K
$227.6K – $303.5K
NOI $18,207 @ 7.0% cap · market cap 1,134.39%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$296.2K
$259.2K – $345.6K
NOI $20,736 @ 7.0% cap · market cap 1,291.96%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
876
Businesses Nearby
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Business Placement
Demographics for 80907, CO
28,806
Population
13,250
Households
2.2
Avg Household Size
40
Median Age
40%
College-Educated
93%
High-School Grad
9.8 sq mi
ZIP Area
2,939
Density / Sq Mi
$71,393
Median Household Income
$41,355
Median Earnings
$1,392
Median Rent
$371,200
Median Home Value
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Frequently Asked Questions
What type of property is this?
Residential income property - The residence includes a back patio, spacious kitchen, and large laundry room.
Where is this residential income property located?
The property is located at 1248 Nichols Boulevard B Colorado Springs, CO.
What are key features of this property?
This property features: 1,500 sq. ft. interior unit; Three bedrooms and three baths; One‑car garage and back patio
