Four-Unit Multifamily
2245 Split Rock Dr Colorado Springs, CO 80919
2245 Split Rock Dr, Colorado Springs, CO, 80919
$875,000
For Sale
$875,000
Well-maintained 1983-built quadplex with four 2-bedroom, 2-bath units, fireplaces, private outdoor space, and washer/dryer hookups.
Property Size4,113 SF
Price / SF$212.74
Days on Market97
Property Features for 2245 Split Rock Dr
General Information
- Standard status
- Active
- Size
- 4,113 SF
- Property subtype
- Multifamily
Listing agency
Hoff & Leigh
(719) 433-1102
Listed by
Brian Canady
(719) 433-1102
Source
Hoffleigh
Added: Apr 16 Updated: Jul 20 at 6:07PM Checked: Jul 21 at 2:57AM
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 Hoff & Leigh
Investment Insights
Based on property information with market context.
Well-maintained four-unit multifamily property built in 1983. The building offers four spacious units, each configured with 2 bedrooms and 2 bathrooms. Unit features include a fireplace, private outdoor space (balcony or fenced yard), washer and dryer hookups, and dedicated storage.
Recent capital improvements include updates to major systems and exterior components, which are intended to reduce near-term maintenance. The property is located in the Mountain Shadows/Oak Valley Ranch area, with proximity to Ute Valley Park and Garden of the Gods, along with nearby retail and dining amenities.
From a practical tenant-housing standpoint, this quadplex provides in-unit convenience through laundry hookups and outdoor private space, paired with functional layouts across all four units.
Recent capital improvements include updates to major systems and exterior components, which are intended to reduce near-term maintenance. The property is located in the Mountain Shadows/Oak Valley Ranch area, with proximity to Ute Valley Park and Garden of the Gods, along with nearby retail and dining amenities.
From a practical tenant-housing standpoint, this quadplex provides in-unit convenience through laundry hookups and outdoor private space, paired with functional layouts across all four units.
Key Highlights
- 1983‑built four‑unit multifamily (quadplex) with four spacious 2‑bedroom, 2‑bath units
- Each unit features a fireplace and functional layout designed for broad tenant appeal
- Private outdoor space per unit: balcony or fenced yard
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $81.4k | $19.80 |
| − Vacancy | −$4.5k | −$1.09 |
| EGI | $77.0k | $18.71 |
| − OpEx | −$23.1k | −$5.61 |
| NOI | $53.9k | $13.10 |
4,113 SF · lease $19.80/SF/yr · vacancy 5.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$769.6K
$673.4K – $897.9K
NOI $53,871 @ 7.0% cap · market cap 6.16%
Second Best
Apartment 5plus
$713.2K
$624.1K – $832.1K
NOI $49,924 @ 7.0% cap · market cap 5.71%
Theoretical Best
Specialty Retail
$812.3K
$710.7K – $947.6K
NOI $56,858 @ 7.0% cap · market cap 6.50%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Quadplexes
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FAQs
What type of property is this?
Quadplex - Well-maintained 1983-built quadplex with four 2-bedroom, 2-bath units, fireplaces, private outdoor space, and washer/dryer hookups.
Where is this quadplex located?
The property is located at 2245 Split Rock Dr Colorado Springs, CO.
What is the asking price?
The asking price for this property is $875,000.
What are key features of this property?
This property features: 1983‑built four‑unit multifamily (quadplex) with four spacious 2‑bedroom, 2‑bath units; Each unit features a fireplace and functional layout designed for broad tenant appeal; Private outdoor space per unit: balcony or fenced yard
