Four-Unit Residential Income
For Sale
$799,900
209 N Arcadia Street, Colorado Springs, CO 80903
Four furnished units with dedicated patio, parking, and shared laundry support multiple rental arrangements under one roof.
Property Size2,176 SF
Price / SF$367.60
Days on Market140
Property Features for 209 N Arcadia Street
General Information
Standard status
Active
Size
2,176 SF
Total Parking Spaces
3
Property subtype
Multi Family
Additional Details
Business Included
Yes
Multifamily Units
4
Taxes and HOA fees
Annual Taxes
$1,173
Building Details
Year Built
1900
Tenancy
Multi
Listing Agency:
Live Dream Colorado LLC
(719) 272-1765
Listed By:
Lauren Collier · License #100035892
(719) 272-1765
Source:
Exitrealty
Added: Apr 13
Changed: Aug 25
Last Checked: Aug 30 at 1:00PM
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.
This four-unit residential income property includes Unit 1, a two-story space with a 1960s-style theme that walks out to the back parking lot. Unit 2 is a single-level studio apartment with a Murphy bed and a 1930s-inspired design. Unit 3 is also two stories, featuring drive-up parking at the front and no units above or below. Unit 4 is a mid-century style garden level unit with direct access to the laundry room.
Off-street parking totals three spaces in the parking lot, with additional street parking available. The property also features a large patio and sitting area in the back, along with Pikes Peak views and alley access. An on-site laundry room contains owned, coin-operated washer and dryer equipment. A central boiler serves the entire property, and each unit includes portable A/C. Plumbing has been upgraded to PEX, supporting the building’s overall utility infrastructure.
Operationally, three units are currently run as monthly furnished rentals, while the garden level unit is rented as an annual furnished rental. Rents include utilities and trash, and the owner provides one internet connection that the building shares. The units have been operated pet-free and smoke-free. This combination of unit mix, shared services, and covered laundry and utility systems can be appealing for an owner seeking a streamlined, self-contained residential rental setup.
Off-street parking totals three spaces in the parking lot, with additional street parking available. The property also features a large patio and sitting area in the back, along with Pikes Peak views and alley access. An on-site laundry room contains owned, coin-operated washer and dryer equipment. A central boiler serves the entire property, and each unit includes portable A/C. Plumbing has been upgraded to PEX, supporting the building’s overall utility infrastructure.
Operationally, three units are currently run as monthly furnished rentals, while the garden level unit is rented as an annual furnished rental. Rents include utilities and trash, and the owner provides one internet connection that the building shares. The units have been operated pet-free and smoke-free. This combination of unit mix, shared services, and covered laundry and utility systems can be appealing for an owner seeking a streamlined, self-contained residential rental setup.
Key Highlights
- Four furnished rental units in one property, including monthly furnished rentals plus one annual furnished rental
- On‑site laundry room with owned coin‑operated washer and dryer
- Central boiler serves the whole property; each unit includes portable A/C
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$28,501
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.56%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$570,020
$570.0K
Cap Rate 7%
$407,157
$407.2K
Cap Rate 9%
$316,678
$316.7K
Market Conditions
NOI Build-Up for 2,176 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$43.1K $19.80/SF
− Vacancy
−$2.4K −$1.09/SF
EGI
$40.7K $18.71/SF
− OpEx
−$12.2K −$5.61/SF
NOI
$28.5K $13.10/SF
Area
Colorado Springs, CO
Vacancy
5.50%
Lease Rate
$19.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$570,020
Cap Rate 7%
$407,157
Cap Rate 9%
$316,678
Alternative Uses
Best Use
Multifamily LT 5
$407.2K
$356.3K – $475.0K
NOI $28,501 @ 7.0% cap · market cap 3.56%
Second Best
Apartment 5plus
$377.3K
$330.2K – $440.2K
NOI $26,413 @ 7.0% cap · market cap 3.30%
Theoretical Best
Specialty Retail
$429.7K
$376.0K – $501.4K
NOI $30,081 @ 7.0% cap · market cap 3.76%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Multi-tenant
Tenancy
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
2,171
Businesses Nearby
Explore this area
Business Placement
Demographics for 80903, CO
15,944
Population
8,340
Households
1.9
Avg Household Size
34
Median Age
39%
College-Educated
95%
High-School Grad
5.4 sq mi
ZIP Area
2,953
Density / Sq Mi
$59,292
Median Household Income
$35,251
Median Earnings
$1,221
Median Rent
$420,000
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Quadplex - Four furnished units with dedicated patio, parking, and shared laundry support multiple rental arrangements under one roof.
Where is this quadplex located?
The property is located at 209 N Arcadia Street Colorado Springs, CO.
What is the asking price?
The asking price for this property is $799,900.
What are key features of this property?
This property features: Four furnished rental units in one property, including monthly furnished rentals plus one annual furnished rental; On‑site laundry room with owned coin‑operated washer and dryer; Central boiler serves the whole property; each unit includes portable A/C
