Newly Built Duplex with
For Sale
$1,399,900
135 Terrace Dr, Colorado Springs, CO 80906
Two spacious units feature finished basements, private yards, and open-concept interiors.
Property Size5,116 SF
Price / SF$273.63
Days on Market60
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Property Features for 135 Terrace Dr
General Information
Standard status
Active
Size
5,116 SF
Total Parking Spaces
4
Property subtype
Multi-Family
Units
Multifamily Units
2
Parking per Unit
2
Additional Details
Highway Access
Yes
Building Details
Year Built
2024
Buildings
1
Listing Agency:
Live Dream Colorado LLC
Listed By:
Lauren Collier · License #100035892
(719) 272-1765
Source:
Hudsonstonegateteam
Added: Aug 17
Changed: Oct 6
Last Checked: Oct 7 at 1:10PM
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 Live Dream Colorado LLC
Investment Insights
Based on property information with market context.
Completed in 2024, this duplex offers two separately configured residences with contemporary interiors and fully finished basements. Each unit includes 9-foot ceilings on the main and upper levels, an open great room, a kitchen with a large island, luxury vinyl flooring, a gas fireplace, and dining access to a private backyard. Both residences also have insulated, fully finished two-car garages.
Unit 135 includes double primary suites, a basement bedroom, and 4 bathrooms. Unit 125 provides 4 bedrooms, 4 bathrooms, and a main-level office. Each basement includes a bedroom, full bathroom, recreation room, and plumbing for a wet bar. Primary bedrooms offer walk-in closets, attached bathrooms with double vanities, and mountain and city views.
The property is in the Creekwalk neighborhood, within walking distance of restaurants and shopping. I-25, Fort Carson, and downtown Colorado Springs are accessible from the property, and there is no HOA.
Unit 135 includes double primary suites, a basement bedroom, and 4 bathrooms. Unit 125 provides 4 bedrooms, 4 bathrooms, and a main-level office. Each basement includes a bedroom, full bathroom, recreation room, and plumbing for a wet bar. Primary bedrooms offer walk-in closets, attached bathrooms with double vanities, and mountain and city views.
The property is in the Creekwalk neighborhood, within walking distance of restaurants and shopping. I-25, Fort Carson, and downtown Colorado Springs are accessible from the property, and there is no HOA.
Key Highlights
- Built in 2024 with two residential units
- Each unit offers 2,594 square feet of finished living space
- Fully finished and insulated two‑car garage for each unit
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$67,717
Cap Rate
4.84%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,354,340
$1.4M
Cap Rate 7%
$967,386
$967.4K
Cap Rate 9%
$752,411
$752.4K
Market Conditions
NOI Build-Up for 5,116 SF
Gross rent
$101.3K $19.80/SF
− Vacancy
−$4.6K −$0.89/SF
EGI
$96.7K $18.91/SF
− OpEx
−$29.0K −$5.67/SF
NOI
$67.7K $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%
$1,354,340
Cap Rate 7%
$967,386
Cap Rate 9%
$752,411
Alternative Uses
Best Use
Multifamily LT 5
$967.4K
$846.5K – $1.13M
NOI $67,717 @ 7.0% cap · market cap 4.84%
Second Best
Apartment 5plus
$896.5K
$784.4K – $1.05M
NOI $62,754 @ 7.0% cap · market cap 4.48%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
729
Businesses Nearby
Explore this area
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
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Duplex - Two spacious units feature finished basements, private yards, and open-concept interiors.
Where is this duplex located?
The property is located at 135 Terrace Dr Colorado Springs, CO.
What is the asking price?
The asking price for this property is $1,399,900.
What are key features of this property?
This property features: Built in 2024 with two residential units; Each unit offers 2,594 square feet of finished living space; Fully finished and insulated two‑car garage for each unit
