4-Unit Multifamily
3014 Mallard Dr, Colorado Springs, CO 80910
For Sale
$622,000
A vacant two-bedroom apartment is ready for occupancy, alongside recent boiler and flooring upgrades.
Property Size3,360 SF
Days on Market10
Property Features for 3014 Mallard Dr
General Information
Standard status
Size
Property subtype
Site & Location
Neighborhood
Additional Details
Asking Price
Multifamily Units
Tenant in Place
Taxes and HOA fees
Annual Taxes
Building Details
Building Size
Year Built
Listing Agency:
Marcus & Millichap Real Estate Investment Services of Atlanta, Inc.
Listed By:
Charles Burkhart · License CO #100103787
(214) 336-6064
Source:
Elliman
Added: Nov 1
Changed: Nov 2
Last Checked: Nov 8 at 7:14AM
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 Marcus & Millichap Real Estate Investment Services of Atlanta, Inc.
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Investment Insights
Based on property information with market context.
This four-unit multifamily property at 3014 Mallard Drive in Colorado Springs was built in 1969. A central boiler has been replaced, and three apartments have new flooring. One two-bedroom unit is vacant and ready for occupancy. Rents are below market, and the property has professional management and utility reimbursements in place.
The available apartment, recent updates, and existing management and reimbursement arrangements are established features of the property.
The available apartment, recent updates, and existing management and reimbursement arrangements are established features of the property.
Key Highlights
- Four‑unit multifamily property in Colorado Springs
- One vacant two‑bedroom apartment is ready for occupancy
- Central boiler replaced
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$44,008
Cap Rate
7.08%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$880,160
$880.2K
Cap Rate 7%
$628,686
$628.7K
Cap Rate 9%
$488,978
$489.0K
Market Conditions
NOI Build-Up for 3,360 SF
Gross rent
$66.5K $19.80/SF
− Vacancy
−$3.7K −$1.09/SF
EGI
$62.9K $18.71/SF
− OpEx
−$18.9K −$5.61/SF
NOI
$44.0K $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%
$880,160
Cap Rate 7%
$628,686
Cap Rate 9%
$488,978
Alternative Uses
Best Use
Multifamily LT 5
$628.7K
$550.1K – $733.5K
NOI $44,008 @ 7.0% cap · market cap 7.08%
Second Best
Apartment 5plus
$582.6K
$509.8K – $679.7K
NOI $40,784 @ 7.0% cap · market cap 6.56%
Theoretical Best
Specialty Retail
$663.6K
$580.6K – $774.2K
NOI $46,449 @ 7.0% cap · market cap 7.47%
Zoning and permitted uses should be independently verified with authorities.
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Open Analytics
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
473
Businesses Nearby
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Business Placement
Demographics for 80910, CO
30,991
Population
13,940
Households
2.2
Avg Household Size
32
Median Age
25%
College-Educated
89%
High-School Grad
6.1 sq mi
ZIP Area
5,080
Density / Sq Mi
$56,681
Median Household Income
$37,110
Median Earnings
$1,299
Median Rent
$276,900
Median Home Value
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Market
Average Price Trend$/SF for Quadplexes in Colorado Springs, CO
Properties on Market for Quadplexes in Colorado Springs
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Quadplex - A vacant two-bedroom apartment is ready for occupancy, alongside recent boiler and flooring upgrades.
Where is this quadplex located?
The property is located at 3014 Mallard Dr Colorado Springs, CO.
What is the asking price?
The asking price for this property is $622,000.
What are key features of this property?
This property features: Four‑unit multifamily property in Colorado Springs; One vacant two‑bedroom apartment is ready for occupancy; Central boiler replaced
