Remodeled Duplex with Historic
For Sale
$574,900
2321 W Bijou Street, Colorado Springs, CO 80904
Updated two-unit property with stainless steel appliances, luxury vinyl plank flooring, and both residences leased.
Property Size1,664 SF
Price / SF$345.49
Days on Market90
Property Features for 2321 W Bijou Street
General Information
Standard status
Active
Size
1,664 SF
Property subtype
Multi Family
Occupancy
100%
Additional Details
Highway Access
Yes
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$1,392
Building Details
Year Built
1895
Listing Agency:
Buy Smart Colorado
(719) 310-8464
Listed By:
Caleb Skelton · License #FA100077073
(719) 216-4057
Source:
Exitrealty
Added: Jul 19
Changed: Oct 11
Last Checked: Oct 11 at 4:40AM
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 Buy Smart Colorado
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Investment Insights
Based on property information with market context.
Built in 1895, this duplex combines historic character with comprehensive interior updates. Both residences feature luxury vinyl plank flooring, matching stainless steel appliances, and contemporary finishes. The property is fully remodeled and both units are leased, providing an established income profile for an owner-user or investor.
Located at 2321 W Bijou St in Colorado Springs’ Old Colorado City, the property is minutes from shops, restaurants, breweries, and entertainment along historic Colorado Avenue. Downtown Colorado Springs, I-25, parks, and outdoor recreation are also conveniently accessible.
Located at 2321 W Bijou St in Colorado Springs’ Old Colorado City, the property is minutes from shops, restaurants, breweries, and entertainment along historic Colorado Avenue. Downtown Colorado Springs, I-25, parks, and outdoor recreation are also conveniently accessible.
Key Highlights
- Fully remodeled duplex built in 1895
- Both units are leased through 2027
- Luxury vinyl plank flooring in each unit
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$21,795
Cap Rate
3.79%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$435,900
$435.9K
Cap Rate 7%
$311,357
$311.4K
Cap Rate 9%
$242,167
$242.2K
Market Conditions
NOI Build-Up for 1,664 SF
Gross rent
$32.9K $19.80/SF
− Vacancy
−$1.8K −$1.09/SF
EGI
$31.1K $18.71/SF
− OpEx
−$9.3K −$5.61/SF
NOI
$21.8K $13.10/SF
Area
Colorado Springs, CO
Vacancy
5.50%
Lease Rate
$19.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$435,900
Cap Rate 7%
$311,357
Cap Rate 9%
$242,167
Alternative Uses
Best Use
Multifamily LT 5
$311.4K
$272.4K – $363.3K
NOI $21,795 @ 7.0% cap · market cap 3.79%
Second Best
Apartment 5plus
$288.5K
$252.5K – $336.6K
NOI $20,198 @ 7.0% cap · market cap 3.51%
Theoretical Best
Specialty Retail
$328.6K
$287.5K – $383.4K
NOI $23,003 @ 7.0% cap · market cap 4.00%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
2
Residential units
100%
Occupancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,467
Businesses Nearby
Explore this area
Business Placement
Demographics for 80904, CO
20,986
Population
11,578
Households
1.8
Avg Household Size
47
Median Age
45%
College-Educated
96%
High-School Grad
11.2 sq mi
ZIP Area
1,874
Density / Sq Mi
$69,566
Median Household Income
$44,494
Median Earnings
$1,417
Median Rent
$413,400
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
Frequently Asked Questions
What type of property is this?
Duplex - Updated two-unit property with stainless steel appliances, luxury vinyl plank flooring, and both residences leased.
Where is this duplex located?
The property is located at 2321 W Bijou Street Colorado Springs, CO.
What is the asking price?
The asking price for this property is $574,900.
What are key features of this property?
This property features: Fully remodeled duplex built in 1895; Both units are leased through 2027; Luxury vinyl plank flooring in each unit
