Triplex with Separate Apartment
For Sale
$559,999
225 N Cedar Street, Colorado Springs, CO 80903
Updated triplex-style home featuring a garden-level apartment with private entrance, RV parking, and extensive upgrades.
Property Size2,250 SF
Price / SF$248.89
Days on Market22
Property Features for 225 N Cedar Street
General Information
Standard status
Active
Size
2,250 SF
Property subtype
Multi Family
Building Details
Year Built
1901
Listing Agency:
RE/MAX Real Estate Group Inc
(719) 459-9955
Listed By:
Brian Boals · License #040016128
(719) 459-9955
Source:
Exitrealty
Added: Jul 10
Changed: Jul 31
Last Checked: Jul 31 at 5:29AM
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 RE/MAX Real Estate Group Inc
Investment Insights
Based on property information with market context.
Triplex with a separate apartment configuration designed for flexible living or rental use, including a garden-level basement unit with private entrance. The main level includes newer LVP flooring, a bright kitchen with granite countertops, updated cabinetry and newer appliances, plus main-floor laundry. A bedroom on this level opens to a private backyard deck. The upper level suite offers two closets, built-ins, a seating area, LVP flooring, and a new skylight.
The garden-level apartment includes brand-new carpet, new flooring in the bath area, abundant natural light through new windows, and a large storage room. Extensive upgrades throughout include a new electrical service panel with several new circuits added to bring the home up to code, new receptacles and switches, updated light fixtures, a newly lined sewer line, and a new lift pump in the basement. Additional improvements include new windows throughout, a new front door and storm door, a new sliding door with in-glass blinds, rebuilt front stairs, rebuilt front stairs, and new interior barn doors and kitchen/pantry storage features.
Located at 225 N Cedar Street in Colorado Springs, this home was built in 1901 and includes low-maintenance xeriscaping, RV parking, and alley access to the garage.
The garden-level apartment includes brand-new carpet, new flooring in the bath area, abundant natural light through new windows, and a large storage room. Extensive upgrades throughout include a new electrical service panel with several new circuits added to bring the home up to code, new receptacles and switches, updated light fixtures, a newly lined sewer line, and a new lift pump in the basement. Additional improvements include new windows throughout, a new front door and storm door, a new sliding door with in-glass blinds, rebuilt front stairs, rebuilt front stairs, and new interior barn doors and kitchen/pantry storage features.
Located at 225 N Cedar Street in Colorado Springs, this home was built in 1901 and includes low-maintenance xeriscaping, RV parking, and alley access to the garage.
Key Highlights
- Garden‑level apartment with private entrance and new windows
- Updated main level with granite countertops and main‑floor laundry
- New electrical service panel and new circuits brought to code
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 | $44.6k | $19.80 |
| − Vacancy | −$2.5k | −$1.09 |
| EGI | $42.1k | $18.71 |
| − OpEx | −$12.6k | −$5.61 |
| NOI | $29.5k | $13.10 |
2,250 SF · lease $19.80/SF/yr · vacancy 5.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$421.0K
$368.4K – $491.2K
NOI $29,470 @ 7.0% cap · market cap 5.26%
Second Best
Apartment 5plus
$390.2K
$341.4K – $455.2K
NOI $27,311 @ 7.0% cap · market cap 4.88%
Theoretical Best
Specialty Retail
$444.3K
$388.8K – $518.4K
NOI $31,104 @ 7.0% cap · market cap 5.55%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,797
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?
Triplex - Updated triplex-style home featuring a garden-level apartment with private entrance, RV parking, and extensive upgrades.
Where is this triplex located?
The property is located at 225 N Cedar Street Colorado Springs, CO.
What is the asking price?
The asking price for this property is $559,999.
What are key features of this property?
This property features: Garden‑level apartment with private entrance and new windows; Updated main level with granite countertops and main‑floor laundry; New electrical service panel and new circuits brought to code
