One-Bedroom Income
For Sale
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2826 W Platte Ave Unit 1, Colorado Springs, CO 80904
Ground-level unit with a flexible bonus room, updated appliances, included utilities, and access to extensive front and rear parking.
Property Size550 SF
Price / SF$1.86
Days on Market52
Property Features for 2826 W Platte Ave Unit 1
General Information
Standard status
Active
Size
550 SF
Property subtype
Multi-Family
Site & Location
Neighborhood
Old Colorado City
Public Transit
Yes
Utilities to Site
Yes
Additional Details
Multifamily Units
1
Amenities
stainless steel appliances
parking
Building Details
Year Built
1936
Listing Agency:
Citadel Realty LLC
Listed By:
Melanie Weseman · License #230009423
Source:
Hudsonstonegateteam
Added: Sep 9
Changed: Oct 26
Last Checked: Oct 7 at 4:31PM
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 Citadel Realty LLC
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Investment Insights
Based on property information with market context.
This 550-square-foot residential income property, built in 1936, offers a one-bedroom, one-bathroom layout with a separate bonus room suitable for an office, sleeping area, or sitting room. The ground-level unit includes stainless steel appliances, carpeted living and sleeping areas, arched windows, and views toward Pikes Peak and the Front Range. Utilities including electric, gas, water, sewer, and trash are included with the rent.
The property is located in Old Colorado City at 2826 W Platte Ave Unit 1 in Colorado Springs. Old Town shopping and public transportation are approximately five blocks away, while Garden of the Gods is a short drive from the property. Parking is available at both the front and rear of the building. The lease term is eleven months with an option to renew.
The property is located in Old Colorado City at 2826 W Platte Ave Unit 1 in Colorado Springs. Old Town shopping and public transportation are approximately five blocks away, while Garden of the Gods is a short drive from the property. Parking is available at both the front and rear of the building. The lease term is eleven months with an option to renew.
Key Highlights
- 550 SF one‑bedroom, one‑bathroom unit with a separate bonus room
- Stainless steel appliances and arched windows with Pikes Peak and Front Range views
- Ground‑level entry with parking available at the front and rear
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$6,676
Suggested Prices Based on Cap Rates
Cap Rate 5%
$133,520
$133.5K
Cap Rate 7%
$95,371
$95.4K
Cap Rate 9%
$74,178
$74.2K
Market Conditions
NOI Build-Up for 550 SF
Gross rent
$12.8K $23.28/SF
− Vacancy
−$666 −$1.21/SF
EGI
$12.1K $22.07/SF
− OpEx
−$5.5K −$9.93/SF
NOI
$6.7K $12.14/SF
Area
Colorado Springs, CO
Vacancy
5.20%
Lease Rate
$23.28 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$133,520
Cap Rate 7%
$95,371
Cap Rate 9%
$74,178
Alternative Uses
Best Use
Apartment 5plus
$95.4K
$83.5K – $111.3K
NOI $6,676 @ 7.0% cap · market cap 651.32%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$108.6K
$95.0K – $126.7K
NOI $7,603 @ 7.0% cap · market cap 741.76%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
1
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,071
Businesses Nearby
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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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Frequently Asked Questions
What type of property is this?
Residential income property - Ground-level unit with a flexible bonus room, updated appliances, included utilities, and access to extensive front and rear parking.
Where is this residential income property located?
The property is located at 2826 W Platte Ave Unit 1 Colorado Springs, CO.
What are key features of this property?
This property features: 550 SF one‑bedroom, one‑bathroom unit with a separate bonus room; Stainless steel appliances and arched windows with Pikes Peak and Front Range views; Ground‑level entry with parking available at the front and rear
