Four-Unit Duplex
For Sale
$649,000
3006 & 3014 N Institute St, Colorado Springs, CO 80907
Single-story rental property includes one vacant unit suitable for owner occupancy.
Property Size2,304 SF
Price / SF$281.68
Days on Market54
Property Features for 3006 & 3014 N Institute St
General Information
Standard status
Active
Size
2,304 SF
Property subtype
Multi-Family
Units
Unit Mix
4 x 2BR/1BA
Multifamily Units
4
Building Details
Year Built
1954
Buildings
2
Stories
1
Listing Agency:
Cushman & Wakefield
Listed By:
Lee Wagner · License #100084704
(417) 459-2155
Source:
Teamuniteddenver
Added: Aug 26
Changed: Oct 6
Last Checked: Oct 7 at 3:07PM
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
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Investment Insights
Based on property information with market context.
This Colorado Springs multifamily property consists of two duplex buildings with a combined 2,304 square feet of building area. Constructed in 1954, the single-story configuration contains four separate residences, each offering 2 bedrooms and 1 bathroom.
One unit is currently vacant and available for immediate occupancy, while the property’s four-unit layout supports rental operations across multiple residences. The buildings are located at 3006 and 3014 N Institute St in Colorado Springs, providing a compact residential income property at a manageable scale.
One unit is currently vacant and available for immediate occupancy, while the property’s four-unit layout supports rental operations across multiple residences. The buildings are located at 3006 and 3014 N Institute St in Colorado Springs, providing a compact residential income property at a manageable scale.
Key Highlights
- Two duplex buildings provide four individual residential units
- 2,304 square feet of total building area
- Each unit includes 2 bedrooms and 1 bathroom
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$30,177
Cap Rate
4.65%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$603,540
$603.5K
Cap Rate 7%
$431,100
$431.1K
Cap Rate 9%
$335,300
$335.3K
Market Conditions
NOI Build-Up for 2,304 SF
Gross rent
$45.6K $19.80/SF
− Vacancy
−$2.5K −$1.09/SF
EGI
$43.1K $18.71/SF
− OpEx
−$12.9K −$5.61/SF
NOI
$30.2K $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%
$603,540
Cap Rate 7%
$431,100
Cap Rate 9%
$335,300
Alternative Uses
Best Use
Multifamily LT 5
$431.1K
$377.2K – $503.0K
NOI $30,177 @ 7.0% cap · market cap 4.65%
Second Best
Apartment 5plus
$399.5K
$349.6K – $466.1K
NOI $27,966 @ 7.0% cap · market cap 4.31%
Theoretical Best
Specialty Retail
$455.0K
$398.1K – $530.8K
NOI $31,850 @ 7.0% cap · market cap 4.91%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
987
Businesses Nearby
Explore this area
Business Placement
Demographics for 80907, CO
28,806
Population
13,250
Households
2.2
Avg Household Size
40
Median Age
40%
College-Educated
93%
High-School Grad
9.8 sq mi
ZIP Area
2,939
Density / Sq Mi
$71,393
Median Household Income
$41,355
Median Earnings
$1,392
Median Rent
$371,200
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 - Single-story rental property includes one vacant unit suitable for owner occupancy.
Where is this duplex located?
The property is located at 3006 & 3014 N Institute St Colorado Springs, CO.
What is the asking price?
The asking price for this property is $649,000.
What are key features of this property?
This property features: Two duplex buildings provide four individual residential units; 2,304 square feet of total building area; Each unit includes 2 bedrooms and 1 bathroom
