Colorado Springs Multifamily Investment
2305 Split Rock Dr Colorado Springs, CO 80919
2305 Split Rock Dr, Colorado Springs, CO, 80919
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For Sale
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Four-unit property in growing Colorado Springs with stable rental demand.
Property Size4,772 SF
Price / SF$176.03
Days on Market121
Property Features for 2305 Split Rock Dr
General Information
- Standard status
- Active
- Size
- 4,772 SF
- Property subtype
- Multifamily
Building Details
- Year Built
- 1984
Listing Agency
Cushman & Wakefield - Denver, Colorado
(417) 459-2155
Listed by
Lee Wagner · License #CO 100084704
Source
Crexi
Added: Mar 19 Checked: Jul 16 at 9:27 am
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 Cushman & Wakefield - Denver, Colorado
Investment Insights
Based on property information with market context.
The property at 2305 Split Rock Drive is a four-unit multifamily property located in Colorado Springs, Colorado. Constructed in 1984, the building has approximately 4,772 square feet of space. The property is situated in a quiet residential neighborhood in southeastern Colorado Springs, providing convenient access to commuter routes, retail centers, grocery stores, and everyday services. Nearby parks, schools, and community amenities contribute to a comfortable living environment. The location appeals to workforce renters and long-term residents. Colorado Springs is experiencing economic and population growth, supported by a diverse employment base including defense, aerospace, healthcare, technology, and education sectors. Major nearby employers such as Fort Carson, Peterson Space Force Base, and several national defense contractors support steady housing demand throughout the region. This property offers investors a stable, small-scale residential asset with manageable operations and consistent rental demand and is positioned to benefit from Colorado Springs’ long-term economic growth.
Key Highlights
- Four‑unit multifamily property in rapidly growing Colorado Springs
- Stable investment with consistent rental demand
- Convenient location near major commuter routes, retail, and services
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 | $94.5k | $19.80 |
| − Vacancy | −$5.2k | −$1.09 |
| EGI | $89.3k | $18.71 |
| − OpEx | −$26.8k | −$5.61 |
| NOI | $62.5k | $13.10 |
4,772 SF · lease $19.80/SF/yr · vacancy 5.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$892.9K
$781.3K – $1.04M
NOI $62,502 @ 7.0% cap · market cap 7.44%
Second Best
Apartment 5plus
$827.5K
$724.0K – $965.4K
NOI $57,923 @ 7.0% cap · market cap 6.90%
Theoretical Best
Specialty Retail
$942.4K
$824.6K – $1.10M
NOI $65,968 @ 7.0% cap · market cap 7.85%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Quadplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Quadplex - Four-unit property in growing Colorado Springs with stable rental demand.
Where is this quadplex located?
The property is located at 2305 Split Rock Dr Colorado Springs, CO.
What is the asking price?
The asking price for this property is $840,000.
What are key features of this property?
This property features: Four‑unit multifamily property in rapidly growing Colorado Springs; Stable investment with consistent rental demand; Convenient location near major commuter routes, retail, and services
