5-Unit Apartment
For Sale
$1,190,000
220 Virginia Dr, Estes Park, CO 80517
Residential Income, Estes Park, CO
Property Size4,733 SF
Lot Size0.48 Acres
Price / SF$251.43
Days on Market8
Property Features for 220 Virginia Dr
General Information
Property type
Residential Multi Family
Property subtype
Single Family Residence
Zoning
RM
Bedrooms
8
Bathrooms
5
Full bathrooms
5
Rooms
Bedroom 2, Bathroom 3, Bedroom 5, Bathroom 4, Bathroom 5, Bedroom 1, Bedroom 4, Bedroom 7, Bathroom 2, Basement, Bedroom 3, Bedroom 8, Bathroom 1, Bedroom 6
Parking
10
Patio and Porch features
Deck
Basement
Partial
Appliances
No Units Furnished
Subdivision
Epco Sub Amd
Lot features
Paved, Curbs, Gutters
Elementary school
Estes Park
Middle school
Estes Park
High school
Estes Park
Elementary school district
Estes Park District
Middle school district
Estes Park District
High school district
Estes Park District
Standard status
Active
APN
R1615317
Size
4,733 SF
Lot size
0.48 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
3822
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Zoned
Water source
Public
Building Details
Year built
1907
Floors in Building
2
Number of units
5
Building materials
Frame
Roof type
Composition
Additional Structures
Storage
Listing Agency:
Ponderosa Realty & Management
(970) 586-6500
Listed By:
Chris Ricciardi
(970) 232-4330
Added: Sep 29
Last Checked: Oct 6 at 7:06PM
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.
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.
Property Analytics
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Current Use
Lease Details
5
Residential units
Location Intelligence
Trade Area within ½ mile
938
Businesses Nearby
Explore this area
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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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in West region
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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
