One-Bedroom Multifamily
For Sale
Contact for pricing
1507 N Nevada Ave Unit 1, Colorado Springs, CO 80907
Unit in a 1904 Victorian home with updated kitchen appliances, shared outdoor space, and on-site laundry.
Property Size650 SF
Price / SF$2.15
Days on Market82
Property Features for 1507 N Nevada Ave Unit 1
General Information
Standard status
Active
Size
650 SF
Property subtype
Multi-Family
Site & Location
Neighborhood
Old North End
Units
Unit Mix
1 x 1BR/1BA
Multifamily Units
1
Amenities
on-site laundry
storage space
shared patio area
Building Details
Year Built
1904
Construction
Victorian
Listing Agency:
Colorado Peak Real Estate
Listed By:
Andrea Warner ABR C2EX CMLXV MRP
(719) 648-9345
Source:
Hudsonstonegateteam
Added: Aug 3
Changed: Oct 8
Last Checked: Oct 7 at 12:55PM
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 Colorado Peak Real Estate
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Investment Insights
Based on property information with market context.
This one-bedroom, one-bath unit is located within a Victorian home constructed in 1904. The residence combines historic architectural character with a practical kitchen equipped with a refrigerator, oven, dishwasher, and garbage disposal. Residents also have access to shared laundry facilities, storage space, a communal patio, and street parking.
Located at 1507 N Nevada Ave Unit 1 in Colorado Springs, the property is near downtown restaurants, retail, coffee shops, and entertainment venues. The layout and amenity package provide a compact residential offering within an established historic home.
Located at 1507 N Nevada Ave Unit 1 in Colorado Springs, the property is near downtown restaurants, retail, coffee shops, and entertainment venues. The layout and amenity package provide a compact residential offering within an established historic home.
Key Highlights
- 1‑bedroom, 1‑bath unit
- Located in a Victorian home built in 1904
- Kitchen includes refrigerator, oven, dishwasher, and garbage disposal
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$7,890
Suggested Prices Based on Cap Rates
Cap Rate 5%
$157,800
$157.8K
Cap Rate 7%
$112,714
$112.7K
Cap Rate 9%
$87,667
$87.7K
Market Conditions
NOI Build-Up for 650 SF
Gross rent
$15.1K $23.28/SF
− Vacancy
−$787 −$1.21/SF
EGI
$14.3K $22.07/SF
− OpEx
−$6.5K −$9.93/SF
NOI
$7.9K $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%
$157,800
Cap Rate 7%
$112,714
Cap Rate 9%
$87,667
Alternative Uses
Best Use
Apartment 5plus
$112.7K
$98.6K – $131.5K
NOI $7,890 @ 7.0% cap · market cap 563.97%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$128.4K
$112.3K – $149.8K
NOI $8,986 @ 7.0% cap · market cap 642.32%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
664
Businesses Nearby
Explore this area
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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Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Multifamily property - Unit in a 1904 Victorian home with updated kitchen appliances, shared outdoor space, and on-site laundry.
Where is this multifamily property located?
The property is located at 1507 N Nevada Ave Unit 1 Colorado Springs, CO.
What are key features of this property?
This property features: 1‑bedroom, 1‑bath unit; Located in a Victorian home built in 1904; Kitchen includes refrigerator, oven, dishwasher, and garbage disposal
