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 Market170
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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
Listed By:
Lauren Collier · License #100035892
(719) 272-1765
Source:
Exitrealty
Added: Apr 29
Changed: Oct 1
Last Checked: Oct 1 at 10:21AM
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 / Yr
$28,501
Cap Rate
3.56%
Suggested Prices Based on Cap Rates
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
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 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.
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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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in West region
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
