Multifamily Investment Property in Victor,
For Sale
$550,000
133 3rd St, Victor, CO 80860
7-unit multifamily property in a historic mountain town.
Property Size6,232 SF
Price / SF$115.47
Days on Market198
Property Features for 133 3rd St
General Information
Standard status
Active
Size
6,232 SF
Property subtype
Investment
Taxes and HOA fees
Annual Taxes
$700
Building Details
Building Size
6,232 SF
Year Built
1899
Listing Agency:
Step Commercial
Listed By:
Manuel Martin Barbera · License #100100336
(303) 819-3681
Source:
Elliman
Added: Mar 27
Changed: Oct 9
Last Checked: Oct 7 at 2:12PM
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 Step Commercial
Investment Insights
Based on property information with market context.
This 7-unit multifamily investment property, originally built in 1899 and renovated in 2008, is located in Victor, Colorado. The property offers seven residential units. It is positioned along the scenic Highway 67 corridor between Cripple Creek and Woodland Park. The property is situated within walking distance to local restaurants, shops, and historic attractions. The area sees steady demand for rental housing, supported by limited inventory and consistent tenant occupancy. The property could benefit from TLC and offers immediate upside through operational improvements, unit additions, unit upgrades, and rental optimization. The property is 4,763 square feet. Victor has experienced renewed interest from investors and visitors due to its rich mining history and proximity to outdoor recreation. Victor's proximity to Cripple Creek provides access to employment opportunities in gaming, tourism, and hospitality.
Key Highlights
- Attractive 8.3% cap rate based on proforma performance and a projected NOI of $54,096, indicating strong cash flow potential.
- Value‑add opportunity with potential for increased returns through operational improvements, unit additions, unit upgrades, and rental optimization.
- Stabilized 7‑unit multifamily property in a supply‑constrained rental market.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$47,086
Cap Rate
8.56%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$941,720
$941.7K
Cap Rate 7%
$672,657
$672.7K
Cap Rate 9%
$523,178
$523.2K
Market Conditions
NOI Build-Up for 4,763 SF
Gross rent
$90.3K $18.96/SF
− Vacancy
−$4.7K −$0.99/SF
EGI
$85.6K $17.97/SF
− OpEx
−$38.5K −$8.09/SF
NOI
$47.1K $9.89/SF
Area
Teller County, CO
Vacancy
5.20%
Lease Rate
$18.96 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$941,720
Cap Rate 7%
$672,657
Cap Rate 9%
$523,178
Alternative Uses
Best Use
Apartment 5plus
$672.7K
$588.6K – $784.8K
NOI $47,086 @ 7.0% cap · market cap 8.56%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.22M
$1.07M – $1.42M
NOI $85,216 @ 7.0% cap · market cap 15.49%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
134
Businesses Nearby
Explore this area
Business Placement
Demographics for 80860, CO
547
Population
409
Households
1.3
Avg Household Size
53
Median Age
17%
College-Educated
93%
High-School Grad
69.8 sq mi
ZIP Area
8
Density / Sq Mi
$53,333
Median Household Income
$29,955
Median Earnings
$615
Median Rent
$184,000
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in West region
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Frequently Asked Questions
What type of property is this?
Apartment building - 7-unit multifamily property in a historic mountain town.
Where is this apartment building located?
The property is located at 133 3rd St Victor, 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: Attractive 8.3% cap rate based on proforma performance and a projected NOI of $54,096, indicating strong cash flow potential.; Value‑add opportunity with potential for increased returns through operational improvements, unit additions, unit upgrades, and rental optimization.; Stabilized 7‑unit multifamily property in a supply‑constrained rental market.
