Four-Unit Townhome-Style
For Sale
Contact for pricing
2350 Split Rock Drive, Colorado Springs, CO 80919
Four residential units offer private entrances, laundry hookups, spacious bedrooms, and dedicated surface parking.
Property Size3,904 SF
Price / SF$211.32
Days on Market60
Property Features for 2350 Split Rock Drive
General Information
Standard status
Active
Size
3,904 SF
Total Parking Spaces
6
Property subtype
Multifamily
Site & Location
Neighborhood
Mountain Shadows
Units
Unit Mix
4 x 2BR/1.5BA
Multifamily Units
4
Amenities
in unit washer & dryer hookups
Building Details
Year Built
1984
Listing Agency:
Cushman & Wakefield - Denver, Colorado
Listed By:
Lee Wagner · License #CO 100084704
(417) 459-2155
Source:
Crexi
Added: Aug 27
Changed: Oct 21
Last Checked: Oct 24 at 3:06PM
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
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Investment Insights
Based on property information with market context.
This four-unit multifamily property at 2350 Split Rock Drive contains 3,904 square feet and was built in 1984. Configured in a townhome style, the property includes four residential units, each with two bedrooms and 1.5 bathrooms. Units provide front and rear entrances, in-unit washer and dryer hookups, spacious bedrooms, and large closets. Six surface parking spaces serve the property.
The property is located in Colorado Springs, Colorado, within the 80919 area. Its setting includes established residential neighborhoods, with access to major roadways, employment centers, retail, dining, recreation, and everyday services. The surrounding northwest Colorado Springs area is also near outdoor attractions. The compact four-unit configuration and dedicated parking provide a straightforward multifamily layout.
The property is located in Colorado Springs, Colorado, within the 80919 area. Its setting includes established residential neighborhoods, with access to major roadways, employment centers, retail, dining, recreation, and everyday services. The surrounding northwest Colorado Springs area is also near outdoor attractions. The compact four-unit configuration and dedicated parking provide a straightforward multifamily layout.
Key Highlights
- Four‑unit multifamily property totaling 3,904 square feet
- Each unit includes 2BD and 1.5BA
- Townhome‑style configuration with front and rear entrances
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$51,133
Cap Rate
6.20%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,022,660
$1.0M
Cap Rate 7%
$730,471
$730.5K
Cap Rate 9%
$568,144
$568.1K
Market Conditions
NOI Build-Up for 3,904 SF
Gross rent
$77.3K $19.80/SF
− Vacancy
−$4.3K −$1.09/SF
EGI
$73.0K $18.71/SF
− OpEx
−$21.9K −$5.61/SF
NOI
$51.1K $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%
$1,022,660
Cap Rate 7%
$730,471
Cap Rate 9%
$568,144
Alternative Uses
Best Use
Multifamily LT 5
$730.5K
$639.2K – $852.2K
NOI $51,133 @ 7.0% cap · market cap 6.20%
Second Best
Apartment 5plus
$677.0K
$592.4K – $789.8K
NOI $47,388 @ 7.0% cap · market cap 5.74%
Theoretical Best
Specialty Retail
$771.0K
$674.6K – $899.5K
NOI $53,969 @ 7.0% cap · market cap 6.54%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
167
Businesses Nearby
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Business Placement
Demographics for 80919, CO
28,909
Population
12,033
Households
2.4
Avg Household Size
43
Median Age
62%
College-Educated
98%
High-School Grad
27.4 sq mi
ZIP Area
1,055
Density / Sq Mi
$116,316
Median Household Income
$60,084
Median Earnings
$1,800
Median Rent
$570,200
Median Home Value
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Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Quadplex - Four residential units offer private entrances, laundry hookups, spacious bedrooms, and dedicated surface parking.
Where is this quadplex located?
The property is located at 2350 Split Rock Drive Colorado Springs, CO.
What is the asking price?
The asking price for this property is $825,000.
What are key features of this property?
This property features: Four‑unit multifamily property totaling 3,904 square feet; Each unit includes 2BD and 1.5BA; Townhome‑style configuration with front and rear entrances
