5-Unit Apartment
220 Virginia Dr, Estes Park, CO 80517
For Sale
$1,190,000
Residential Income, Estes Park, CO
Property Size4,733 SF
Lot Size0.48 Acres
Price / SF$251.43
Days on Market46
Property Features for 220 Virginia Dr
General Information
Property type
Property subtype
Zoning
Bedrooms
Bathrooms
Full bathrooms
Rooms
Parking
Patio and Porch features
Basement
Appliances
Subdivision
Lot features
Elementary school
Middle school
High school
Elementary school district
Middle school district
High school district
Standard status
APN
Size
Lot size
Taxes and HOA fees
Tax Year
Tax Annual Amount
Utilities
Utilities
Sewer type
Heating system
Water source
Building Details
Year built
Floors in Building
Number of units
Building materials
Roof type
Additional Structures
Buildings
Listing Agency:
Ponderosa Realty & Management
(970) 586-6500
Listed By:
Chris Ricciardi
(970) 232-4330
Added: Sep 29
Changed: Oct 24
Last Checked: Nov 13 at 8:06PM
MLS# 1069634
Copyright © 2026 IRES MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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Investment Insights
Based on property information with market context.
Five apartments are distributed among four frame buildings on a 0.48-acre parcel. The unit mix comprises three two-bedroom apartments and two one-bedroom apartments, including a duplex. The duplex sits above a basement that has been used for office, storage, and laundry functions. The 4,733-square-foot property was built in 1907 and has RM zoning. Roofs were replaced in recent years, and the buildings were painted this year.
The property is within walking distance of downtown Estes Park shops, dining, the library, and services. Rocky Mountain National Park is a few miles away. The town has granted preliminary approval for condo development; any additional income use of the basement would require Town of Estes Park approval.
The property is within walking distance of downtown Estes Park shops, dining, the library, and services. Rocky Mountain National Park is a few miles away. The town has granted preliminary approval for condo development; any additional income use of the basement would require Town of Estes Park approval.
Key Highlights
- Five rental units in four buildings on 0.48 acres
- Unit mix includes three 2‑bedroom and two 1‑bedroom apartments
- One building is configured as a duplex
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$45,046
Cap Rate
3.79%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$900,920
$900.9K
Cap Rate 7%
$643,514
$643.5K
Cap Rate 9%
$500,511
$500.5K
Market Conditions
NOI Build-Up for 4,733 SF
Gross rent
$85.8K $18.12/SF
− Vacancy
−$3.9K −$0.82/SF
EGI
$81.9K $17.30/SF
− OpEx
−$36.9K −$7.79/SF
NOI
$45.0K $9.52/SF
Area
Larimer County, CO
Vacancy
4.50%
Lease Rate
$18.12 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$900,920
Cap Rate 7%
$643,514
Cap Rate 9%
$500,511
Alternative Uses
Best Use
Apartment 5plus
$643.5K
$563.1K – $750.8K
NOI $45,046 @ 7.0% cap · market cap 3.79%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.27M
$1.11M – $1.48M
NOI $88,929 @ 7.0% cap · market cap 7.47%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
5
Residential units
Location Intelligence
Trade Area within ½ mile
938
Businesses Nearby
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Business Placement
Demographics for 80517, CO
9,720
Population
7,043
Households
1.4
Avg Household Size
55
Median Age
55%
College-Educated
97%
High-School Grad
297.2 sq mi
ZIP Area
33
Density / Sq Mi
$89,659
Median Household Income
$40,919
Median Earnings
$1,451
Median Rent
$670,200
Median Home Value
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Market
Average Price Trend$/SF for Apartment buildings in Larimer County, CO
Properties on Market for Apartment buildings in Larimer County
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Apartment building - Four separate buildings include a duplex and a mix of one- and two-bedroom apartments.
Where is this apartment building located?
The property is located at 220 Virginia Dr Estes Park, CO.
What is the asking price?
The asking price for this property is $1,190,000.
What are key features of this property?
This property features: Five rental units in four buildings on 0.48 acres; Unit mix includes three 2‑bedroom and two 1‑bedroom apartments; One building is configured as a duplex
